Quarterly Interest Deposit Account

If you would like a return on your business savings and are looking for regular interest payments then the Quarterly Interest Deposit Account may suit you.

The Quarterly Interest Deposit Account offers either no notice access or 1 month access to your funds, depending upon your needs.

You can add further funds, as long as they come from the same bank account as the original deposit.

Up to 0.10%

on deposits of £50,000+ for no notice.

Up to 0.25%

on deposits of £50,000+ for 1 month notice.

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Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Quarterly Interest Deposit Account Summary

Account Name
Quarterly Interest Deposit Account.
What is the interest rate?
Up to 0.25% Gross Rate* - interest paid annually and compounded§ on deposits of £50,000+ for 1 month notice.
Up to 0.10% Gross Rate* – interest paid monthly and paid away§ on deposits of £50,000+ for no notice.
Can Hodge Bank change the interest rate?
Yes, subject to us giving you at least 8 days notice prior to the date of the interest rate change.
What would the estimated balance be after 12 months based on a range of deposits?
Below £1,000 No Interest
£1,000+ £1,001.00
£5,000+ £5,005.00
£10,000+ £10,010.00
£50,000+ £50,050.00
Assumes interest is compounded and paid annually on a 1 month notice account.
How do I open and manage my account?
You can open your account by post. You can manage your account by post, telephone or email. The minimum deposit for a Fixed Rate Account is £1,000.
Can I withdraw the money?
Depending upon the account you choose - either 1 month notice or instant access.
Additional information
If you're looking for any other type of account such as a business account, joint account or charity account, you can apply using our application form, which you can download or request from our Customer Services Team.

How to apply

You can choose to receive your interest monthly, or annually from your account. The interest rate on your account is flexible in line with the balance you hold.

No Notice
1 Month Notice
Amount
Gross Rate*
AER†
Gross Rate*
AER†
Amount £50,000+
Gross Rate* - interest paid annually 0.10%
AER† 0.10%
Gross Rate* - interest paid monthly 0.25%
AER† 0.25%
Amount £10,000+
Gross Rate* - interest paid annually 0.10%
AER† 0.10%
Gross Rate* - interest paid monthly 0.25%
AER† 0.25%
Amount £5,000+
Gross Rate* - interest paid annually 0.10%
AER† 0.10%
Gross Rate* - interest paid monthly 0.25%
AER† 0.25%
Amount £1,000+
Gross Rate* - interest paid annually 0.10%
AER† 0.10%
Gross Rate* - interest paid monthly 0.15%
AER† 0.15%
Amount Below £1,000
Gross Rate* - interest paid annually 0.00%
AER† 0.00%
Gross Rate* - interest paid monthly 0.10%
AER† 0.10%

Applying offline

You can apply for this account by post by downloading the application form below

By Post

Hodge Bank, One Central Square, Cardiff, CF10 1FS.

FAQs

AER stands for Annual Equivalent Rate. It shows the rate of interest a saver will receive over a year, on the assumption that the cash is left in the account for the full year without any withdrawals.
Compound interest is interest paid on the initial principle as well as the accumulated interest on money you have invested. You earn interest on the money you deposit, and on the interest you have already earned.

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deducation of income tax at the rate specified by law. The payment can be made annually or monthly.

†AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

Not the product for you?

Why not browse our range of other accounts to see which may suit you best