Common use of Interest on credit balances Clause in Contracts

Interest on credit balances. 2.9.1. In respect of interest on Fixed Term Deposit Accounts or Notice Accounts please see terms 2.13 and 2.14 which apply in addition and take precedence over this term 2.9. 2.9.2. Interest (if any) on cleared credit balances on your Accounts will be payable in accordance with our Interest Rate Schedule, or otherwise as agreed in writing, provided such credit balances are above the minimum balance required to earn interest. 2.9.3. Interest rates may be applied in bands, and in such cases the rate offered will be dependent on the size of cleared funds in your Accounts. In addition, we may agree certain special or fixed deposit arrangements with you for which individually negotiated interest rates will apply. Details of the standard interest rates and bands, including how and when such interest is applied, are included in the Interest Rate Schedule which is available on the Website, from your Private Banker, at any of our branches or on request. 2.9.4. Interest is normally calculated daily and credited to your Account on the last day of each calendar month. Interest is normally paid gross, unless there are circumstances in which we are required to pay net interest. We are obliged to notify HMRC annually of all interest paid, unless specifically exempted from doing so. 2.9.5. Any additional terms and conditions which may apply to a particular Account, including as to interest are detailed in the Interest Rate Schedule, or otherwise will be notified to you by us before you open the interest-bearing Account.

Interest on credit balances. 2.9.1. In respect of interest on Fixed Term Deposit Accounts or Notice Accounts please see terms 2.13 and 2.14 which apply in addition and take precedence over this term 2.9. 2.9.2. Interest (if any) on cleared credit balances on your Accounts will be payable in accordance with our Interest Rate Schedule, or otherwise as agreed in writing, provided such credit balances are above the minimum balance required to earn interest. 2.9.3. Interest rates may be applied in bands, and in such cases the rate offered will be dependent on the size of cleared funds in your Accounts. In addition, we may agree certain special or fixed deposit arrangements with you for which individually negotiated interest rates will apply. Details of the standard interest rates and bands, including how and when such interest is applied, are included in the Interest Rate Schedule which is available on the Website, from your Private Banker, at any of our branches or on request. 2.9.4. Interest is normally calculated daily and credited to your Account on the last day of each calendar month. Interest is normally paid gross, unless there are circumstances in which we are required to pay net interest. We are obliged to notify HMRC annually of all interest paid, unless specifically exempted from doing so. 2.9.5. If the applicable interest rate on your Account goes below zero, we may charge you interest on the credit balance on your Account. Should we decide to charge such interest on your Account, we will notify you in accordance with these Terms. 2.9.6. Any additional terms and conditions which may apply to a particular Account, including as to interest are detailed in the Interest Rate Schedule, or otherwise will be notified to you by us before you open the interest-bearing Account.