Trust Fixed Term Deposits

This account is aimed at the following types of UK based Trust, Bare/Simple/Will Trust, Life Interest Trust, Family Discretionary Trust Accumulation & Maintenance Trust and Charitable Trust

Summary Box - Key Product Information

What is the interest rate?

  • A fixed rate can be agreed for either a 6 or 12 month term from the date of opening the account.

  • The interest rate will be agreed for each individual deposit, and is only confirmed on the day that funds are received and an account opened.

  • Interest is calculated on a daily basis and will be capitalised either 6 or 12 months from date of opening, depending on which option is taken.

Can Bath Building Society change the interest rate?

  • The interest rate is fixed throughout the term of the investment and cannot be varied during that period.

What would the estimated balance be after 12 months based on a £10,000 deposit?

  • As the interest rate is only finalised once funds have been received and the account opened, it is only possible to provide an example using an indicative rate.This example is based on a rate of 0.50%.

  • Based on this rate, if you deposited £10,000 in this account, after 6 months you would have £10,025 and after 12 months you would have £10,050.

  • These figures are only an estimate, and for illustrative purposes only.

How do I open and manage my account?

  • Accounts are opened by completing a Trust application form, available from any Branch, Agency Office, or by contacting our Customer Support Department. Alternatively, this can be downloaded from our website.

  • Personal details are required for all trustee signatories as well as for named beneficiaries. Please note that all Trustees and beneficiaries must be resident for tax purposes only in the UK and be UK citizens.

  • Identification will be required for all Trustees and beneficiaries. This is usually obtained through our usual electronic Equifax search facility. However, in the event that this proves inconclusive then two original or certified forms of identification are needed to prove name and verification of address. Ideally, these will be a passport, driving licence and recent utility bill. All signatories must be over 18 years old.

  • A copy of the Trust Deed must also be provided.

  • Minimum opening balance £10,000.

  • Maximum balance £250,000.

  • Once placed, funds may not be added to the initial investment.

  • The opening deposit must be by cheque or electronic transfer drawn on a UK bank account in the name of the Trust, one of the Trustees or from a solicitor acting on behalf of the Trust.

  • It is possible to view all the accounts you hold with Bath Building Society by registering through our website

Can I withdraw money?

  • No access before maturity.

  • Account holders should contact the Investment Managers at least 3 days prior to the maturity date of their investment to advise their repayment or re-investment instructions. In the absence of any contact from the customer, we will try to establish contact. However, if this has not been possible for any reason before 9am on the maturity date, the investment and interest will remain in the account, which will revert to a Trust Instant Account.

Additional Information

  • An opening statement of deposit will be produced.

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This account is a limited issue and can be withdrawn without notice. Applications which have not been received at the time of withdrawal will not be processed.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.

Version: December 2017

Further Information