Deposit Rates
Product | Term | GBP Gross(1)/ AER (2) | EUR Gross(1)/ AER (2) | USD Gross(1)/ AER (2) |
Instant Access Accounts are available for a wide range of currencies and offer flexibility for transacting through KH Online or your private banker. | Banking or Execution Only Mandate | Nil | Nil | Nil |
Advisory or Discretionary Managed Mandate(3) | 3.50% | 1.25% | 3.00% | |
Notice Accounts provide a rate of interest (4) but require savers to give notice of any withdrawals. | 7 Days | 3.50% | 1.75% | 3.25% |
35 Days | 4.00% | 2.25% | 3.75% | |
95 Days | 4.50%C | 3.00%B/D | 4.50%A | |
Standard Term Deposit | 3 Month | 3.80% | 2.05% | 3.55% |
6 Month | 3.80% | 1.90% | 3.50% | |
9 Month | 3.80% | 1.70% | 3.30% | |
1 Year | 3.75% | 1.35% | 3.10% | |
Advantage Term Deposit | 3 Month | 4.00% | 2.25% | 3.75% |
6 Month | 4.05% | 2.15% | 3.75% | |
9 Month | 4.10% | 2.00% | 3.60% | |
1 Year | 4.15% | 1.75% | 3.50% |
(1) Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (the ‘specified rate’).
(2) AER is the Annual Equivalent Rate and shows what the interest rate would be if interest were paid and compounded for one year.
(3) The rate of interest shown is linked to the respective central bank base rate and calculated as follows:
| Currency | Current rate |
| Sterling | Bank of England Base Rate less 1.25% |
| US Dollar | Federal Funds Target Rate Upper Bound less 1.75% |
| Euro | European Central Bank (ECB) Deposit Facility Rate less 1.75% |
Changes in the Bank of England base rate will apply from the business day following the central bank announcement. Changes in the European Central Bank reference rate will apply on the effective date of the change announced by the European Central Bank. Changes and the US Federal Reserve Target Rate will take affect 3 business days after the announcement from the US Federal Reserve.
(4) Interest rates on Notice Accounts are variable at the Bank’s discretion, however savers will be given advanced notice of any rate reductions.
(5) Interest rates for Term Deposits are fixed on the day of deposit for the entire term of the deposit. Interest is typically credited on maturity (other frequencies available upon request at the time of fixing).
A With effect from 27/01/25 USD 95 Day Notice rate will reduce to 4.00%.
B With effect from 27/01/25 EUR 95 Day Notice rate will reduce to 2.75%.
C With effect from 27/01/25 GBP 95 Day Notice rate will reduce to 4.25%.
D With effect from 31/03/24 EUR 95 Day Notice rate will reduce to 2.25%.
Standard rates are shown. Rates may vary. Product terms and conditions apply.
What would my estimated balance be after 12 months based on a £1,000,000 deposit?
A deposit of £1,000,000 at an annual gross rate of 4.00% would generate an estimated balance of £1,040,000 in one year. Please note this example is for illustrative purposes only.
