US Dollar Currency Deposit Account

Mortgage offset:

No

Interest rate:

Rates are variable. Interest is paid quarterly in March, June, September and December.

Gross:

The rate of interest payable without tax taken off.

Tax:

Interest is paid gross. If you’re a UK taxpayer, you may have to pay tax on interest earned in excess of your Personal Savings Allowance.

For information and guidance please refer to the HMRC website.

Please note, it’s your responsibility to ensure that any tax due on interest payments received is paid to the appropriate tax authority.

AER:

Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded once each year.