Apply for a 120 Day Notice Account

Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.

Account Name

120 Day Notice Personal Account Issue 46

What is the interest rate?

Interest rate for balances of $1,000 or more:

Annual Interest (Variable) 0.60% Gross / AER
Monthly Interest (Variable) 0.60% Gross / 0.60% AER

Interest rate where the balance falls below the minimum account opening balance;

Gross / AER (Variable); 0.05%

Interest is calculated daily. Interest will be paid on the anniversary of the date we receive your first deposit – this will be monthly or annually depending on the product you choose. If the anniversary falls on a weekend or a bank holiday your interest will be credited on the next working day.

Can Republic Trust Bank change the interest rate?

The Interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.

What would the estimated balance be after 12 months based on a $1,000 deposit?

A deposit of $1,000 at an annual Gross rate of 0.60% (variable) would generate an estimated balance of $1,006 in one year - This is for illustrative purposes only.

(This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest paid annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)

How do I open and manage the account?

• You can apply for this product online.
• Once your account is open, you can operate the account through secure message or by telephone on 0345 266 6611.
• Minimum account opening balance of $1,000.
• Maximum account balance of $500,000.
• The account is only available to individuals who are 18 years of age or over, permanently resident in the USA, are only liable for USA tax and can provide a USA bank account as a nominated account.

Can I withdraw money?

• Withdrawals are only available subject to 120 days' notice.

Additional Information

• Interest is paid Gross

The information provided above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account. 

Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Republic Trust Bank Limited are protected up to a total of $85,000 by the Financial Services Compensation Scheme, the USA's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.USA

Terms Explained

AER. This stands for Annual Equivalent Rate. If you left a sum of money in your account all year, the AER would be the interest rate you’d get if we paid you interest during the course of the year and your subsequently higher balance then earned more interest (this is known as Compound Interest). The AER will only be higher than the gross interest rate where we pay you interest more than once a year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.

GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.

Terms & Conditions for Personal Accounts

Regulation 

Republic Trust Bank is authorised by the Prudential Regulation Authority and regulated by​ the Financial Conduct Authority and the Prudential Regulation Authority. The FCA & PRA regulate many different kinds of financial services companies, and make sure that banks treat their customers fairly. Find out more at www.fca.org.USA or www.bankofengland.co.USA/prudential-regulation