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Interest Rates

Our aim is to tie the rates in the table below to Bank of England Base Rate. These rates will normally change on the Monday following a base rate change. The rate of interest secured by Ascentric depends on other factors, particularly LIBOR. Consequently the relationship between Ascentric interest rates and Bank of England Base Rates is not guaranteed.

If you have any question regarding these rates please contact us.

INTEREST RATES
Interest Rates last amended on 30/04/10
Balance - £% on each account
0 - 49,9990.05
50,000 - 149,9990.25
150,000 - 249,9990.40
250,000 + 0.65
When calculating interest due we will sum cash balances on the Deposit accounts, Reserve accounts and Income accounts within each wrapper under the clients' portfolios. The sum of these cash balances will then be used to determine which interest rate will apply (using the above tiers) and interest will then be calculated on a daily basis and applied to the clients' accounts monthly.
We will earn a margin on the interest received on client monies, this margin will depend upon the aggregate interest paid to clients and the interest rate received from banks with whom we deposit client monies. The average interest rates paid to clients and the prevailing rates will change on a daily basis.