Time Deposits & Certificates of Deposit
Who can invest?
Below are the types of counterparties from whom deposits will be accepted by Treasury:
- Local Authority
- Housing Association
- Financial Institution
- Fund Manager
- Corporate Body (Limited Company, Plc, LLP)
- Registered Charity
Housing Associations, Corporates and Registered Charities must be either:
(a) a large company or other body corporate (e.g. LLP, charity established by Royal Charter). To qualify as a large company or other body corporate, the organisation must satisfy two or more of the following criteria in respect of the last two financial years:
(i) turnover balance exceeds £6.5 million
(ii) balance sheet total exceeds £3.26 million
(iii) more than 50 employees.
(b) a large mutual association or unincorporated association with net assets of more than £1.4 million.
Deposits accepted by Treasury fall outside of Financial Services Compensation Scheme (FSCS) cover. It follows that Treasury does not accept deposits from individuals or small (see above for definition) businesses, charities or associations, which might be eligible under these arrangements.
If you are an individual or involved in a small business, charity or association and would like to find out about the savings facilities available from National Counties other than via Treasury, please contact our Customer Centre on 01372 747771 or click here to view our current savings product range.
How much can be invested?
The minimum deposit that Treasury will accept is £500,000 and the maximum amount is £25 million.
How long can l deposit for?
Deposits can be made for between one month and five years. Specific maturity dates will be negotiated with Treasury.
Rates
Competitive interest rates are quoted by our Treasury department to reflect market conditions. Fixed or Variable (linked to LIBOR or Bank of England bank rate) rates are available and are negotiated with depositors depending on the amount and the deposit term.
Indicative rates are shown below:
| Term | Fixed Rate | Floating Rate |
| 1 month | 0.60% | |
| 3 months | 1.00% | |
| 6 months | 1.35% | |
| 1 year | 2.10% | 3 month LIBOR + 1.00% |
| 2 years | 3.10% | 3 month LIBOR + 2.05% |
| 3 years | 3.50% | 3 month LIBOR + 2.40% |
Special conditions
No withdrawals, partial or full are allowed before the maturity date. Each deposit is treated as a separate transaction.
Transfer of funds must be made by electronic funds transfer.
Contact us
If you require any further information about depositing funds with Treasury please email Treasury
You will not receive any advice or recommendation from us. Treasury deposits accepted by us are not covered by the Financial Services Compensation Scheme.
Time Deposits & Certificates of Deposit
Authorised and Regulated by the Financial Services Authority. FSA Register Number: 206080
National Counties introduces its customers to Legal and General for advising on and arranging life assurances, pensions and investment products bearing Legal and General's name.