Key Features
Trust savings accounts are specialised accounts holding funds managed by trustees for beneficiaries (often children or incapacitated adults), offering legal protection for assets. These accounts, which can be fixed-rate or variable, allow trustees to control assets, requiring documentation like a trust deed to open.
They are suitable if you are a trustee (individual or legal professional) needing to manage, protect, and grow assets on behalf of a beneficiary -such as children, incapacitated adults, or charity. They are designed to manage, protect, or grow assets for future use.
- Created to manage assets on behalf of a third party, such as in Will Trusts, Personal Injury Trusts, or Discretionary Trusts
- Account options include easy-access accounts for liquidity, or fixed-rate accounts that offer higher interest in exchange for locking away funds
- Trustees control the account, but beneficiaries are the intended recipients of the funds
- Some accounts may have minimum deposit requirements or notice periods for withdrawals
- Documentation may be required – such as a trust deed, proof of identity, and details of trustees/beneficiaries
Trust Accounts
35 Days' Notice Trust Account (Issue 1)
Instant Access (Issue 1)
Notes: This interest rate information should be read in conjunction with our General Savings Account Terms and Conditions for Business Deposit Savings Accounts.
* The gross rate (PA) is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates what the gross interest rate would be if the interest was paid and added to the account annually.
Some help & guidance
Savings FAQs
Find clear answers to our most frequently asked questions, designed to help you make your savings journey as simple as possible.
Jargon Buster
Financial jargon can be confusing sometimes. Our jargon buster breaks down some of the common savings terms and abbreviations.
Forms & Documents
Here you will find some useful savings forms and further information documents to help you manage your savings accounts.
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