17. Interest Rates

The interest rate on Accounts depends on the type of Account, the amount invested, the term chosen, if any, and date and time deposited. Interest rates are at all times subject to change due to market fluctuations, including Base Rate changes and any quotation which the Bank may give can only be considered as indicative.

Fixed term deposits carry interest rates which are fixed at the outset of the fixed period for the duration of the deposit period. At maturity dates, such rates will be re-negotiated taking into account interest rates ruling in the money markets at the time.

Non-fixed deposits are subject to variation of interest rate at any time. Any changes of interest rate for non-fixed deposits are notified in the monthly statements sent to Account Holders in respect of non-fixed deposits.

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