Key features of Instant Access Savings Account

This document explains the account:

Key features.
Provides other important information about our Instant Access Savings Account.

Please read this document carefully to ensure you understand this product and we recommend keeping it safe for future reference.

This document is supplementary to both the General Terms & Conditions and the Product Terms and Conditions.

Important Information:

The credit interest rate can change at anytime subject to our Terms & Conditions.
There is no debit card available for this product.
We do not provide financial advice to our customers and you are not entitled to rely on us for advice or recommendations.
All account opening requests are subject to eligibility criteria.

Summary:

There are no fees and you have instant access to your money.

FSCS Compensation Scheme

It’s good to know that your savings may be protected. If eligible, your savings with Unity Trust Bank may be protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.

For more information and to find out if you’re eligible please visit www.unity.co.uk/fscs/

How it works

	Instant Access Savings Account	30 Day Term Deposit	90 Day Term Deposit (Deposit of £100k -£10m)	90 Day Term Deposit (Deposit of £10m+)	6 Month Fixed Term Deposit	12 Month Fixed Term Deposit	24 Month Fixed Term Deposit
Interest Rate as of 11/12/2023	2.75%	2.96%	3.06%	3.16%	4.00%	5.00%	5.20%
Term	–	30 days	90 days	90 days	6 months	12 months	24 months
Minimum Deposit	None	£100k	£100k	£10m	£100k	£100k	£100k
Maximum Deposit	None	None	None	None	£5m	£5m	£5m
Access	Instant	No Access	No Access	No Access	No Access	No Access	No Access
Fixed or Variable	Variable	Fixed for the term	Fixed for the term	Fixed for the term	Fixed for the term	Fixed for the term	Fixed for the term
Fee	Free	Free	Free	Free	Free	Free	Free

Summary Box

Account Name Instant Access Savings Account

What is the Interest Rate?* (Effective 11/12/2023)

Net Rate**	Gross Rate***	AER****
2.20%	2.75%	2.77%

*Interest rate is the fixed or variable rate of interest earnt per year expressed as a percentage and which is subject to terms and conditions, may be varied or withdrawn by the Bank at any time and without notice.
** Net Rate is the amount of interest you will receive if your organisation pays tax at source.
*** Gross Rate is the contractual rate of interest payable before the deduction of income tax at the ratespecified by law.
**** AER stands for Annual Equivalent Rate and illustrates the interest rate if interest was paid and compounded each year.
Interest is credited at the end of the fixed term.

Summary Box

Can Unity Trust Bank change the interest rate?	The interest rate is variable and may be altered in accordance with our Terms and Conditions for Business Savings Accounts.
The interest rate is variable and may be altered in accordance with our Terms and Conditions for Business Savings Accounts.	A deposit of £10,000 at an annual gross rate of 2.75% (variable) would generate an estimated balance of £10,275 in one year.. This is for illustrative purposes only. (This example assumes no withdrawals, no changes to the variable interest rate over the period and interest paid annually on a cleared deposit).
How do I open and manage the account?	To open an account, you must be a UK-based organisation. All applications are subject to standard screening and eligibility criteria. There is no minimum or maximum account opening balance. You can open an account by visiting https://apply.unity.co.uk and completing and signing a submission form (or application form for existing customers). This will need to be printed and signed by all signatories and sent with any relevant supporting documentation (those required will be specified on the submission form) to the address below.
How do I manage the account?	You’ll be able to access your account 24 hours a day and you won’t incur an account fee. You can close your account at any time. This account is not designed for transactional banking, it cannot be used to make payments. To withdraw available funds you will need to make a transfer to another account.
When can I access my funds?	Unlimited withdrawals, you can access your funds at anytime with no notice of withdrawal required. Withdrawals and deposits can be made at any time to and from your nominated account only.
Additional Information	This is a variable rate product. If rates change we will provide 60 days notice of any changes in writing. If you change your mind after you have opened the account and decide you don’t want it, you can close your account and have your money returned, as well as any interest you have earned. You can close your account at any time. To close your account please email us@unity.co.uk attaching a scanned instruction signed in accordance with the account mandate or write to us at: Unity Trust Bank PO Box 7193 Planetary Road Willenhall WV1 9DG. See General Terms and Conditions for more information.

Key Features Using your account

Online Banking

Term deposits can be viewed and accessed through Online Banking.

Customer Service Centre

All customers can access our UK-based contact centre.

Please call us on 0345 140 1000.

Further Information

All Business Savings Accounts are subject to status and Terms and Conditions apply.

Get in touch to find out more about applying for a Business Savings Account.

Go Paperless!

You can choose to receive online statements and we’ll notify you by email or SMS when they’re available. Contact us to switch to paperless statements.

Our Commitments to our business customers

As a lender we have committed to follow the Standards of Lending Practice for business customers. By adhering to the Standards, we are demonstrating a commitment to ensuring that our customers are treated fairly.

We will lend responsibly and treat your business fairly and reasonably at all times.
We will ensure that all information we provide about our products and how they work is clear and understandable so that you can decide what is best for your business’ needs.
We will provide clear, upfront information on the documents required to support an application. Taking account of this will help to ensure that we can deal with your application efficiently.
If we are unable to approve your application, we will explain why and provide a referral, where appropriate, to alternative sources of finance.
If your application is declined you have the right to appeal the decision.
We will set out any requirements/conditions we may have to support any borrowing in a clear, understandable way.
We will confirm the conditions of your business borrowing in writing and highlight any covenants or material conditions attached to it.
We will clearly set out the type and frequency of information we will require to monitor the business’ performance.
If your business experiences difficulties, we will seek to understand the overall circumstances to try and identify suitable and pragmatic solutions. Where appropriate, we will provide details of free debt advice.

What we ask of you...
- That, prior to making an application you double check what information we will need to process an application. If you are unsure or have any questions, please contact us.
- That all information you provide to us during our relationship is accurate and timely.
- We ask you to think carefully about whether the business can afford the product applied for and to be open in your dealings with us.
- To make sure that you understand the terms and conditions associated with your product.
- That you seek professional advice, where this is appropriate for the needs of your business and the type of product you are applying for.
- That the business maintains any commitments it has to us, for example providing information which we may reasonably request to monitor performance.
- Take care of any security information to help prevent fraud and protect your account(s).
- Tell us as soon as possible if someone is misusing confidential information.
- Carefully check your business’ account statements/records to make sure they are accurate. If anything isn’t right, please get in touch with us.
Please let us know if...
- Your contact details change or there is a change in how your business is run for example, ownership/directorships etc, so we can keep our records up to date;
- Your business may be about to experience, or is experiencing difficulties. The sooner you do this, the more likely it is we’ll be able to find a way to help you.

Unity Trust Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Unity Trust Bank is entered in the Financial Services Register under number 204570. Registered Office: Four Brindleyplace, Birmingham, B1 2JB. Registered in England and Wales no. 1713124. Calls are recorded and may be monitored for security, training and quality purposes.