Select Access Demand Account
We’d like to tell you a bit about ourselves and the exciting new product we are bringing to savers in Northern Ireland.
KBC is a Belgian Bank which has been meeting the needs of Business and Personal customers throughout Ireland for nearly 40 years. Our parent, KBC Bank NV is one of Europe’s largest Banks, with an A- credit rating from Fitch and Standard & Poors.
Select Access Demand Account
The Select Access Demand Account has a number of attractive features, from its 3% Gross interest rate (AER) to allowing you to access your savings whenever you need to.
- Rate 2.25% Gross/AER (Variable)
- Minimum Account Opening Balance £2,000
- Maximum Account Balance £1,000,000 (excluding interest added)
- Funds available on demand
- Variable interest rate
- Interest added annually in December
- Rate will reduce to 1.75% Gross/AER effective 1st July 2013.
Want to know more?
If you have any queries, a member of our dedicated deposits team would be delighted to help you. Please phone the deposits team on 0800 389 5384. Please note your call will be re-directed to our Dublin office.
If you would like to open a Select Access Demand Account, simply download the Select Access Demand Account application form here and post it to KBC Bank Ireland, Sandwith Street, Dublin 2. All forms will be processed in our headquaters in Dublin. Please note that applications cannot be accepted online for this account.
Interest may be subject to Deposit Interest Retention Tax currently charged at 33%, exemptions may apply for persons not resident in the Republic of Ireland. Terms & Conditions apply. AER means annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rates quoted are correct as at 2nd April 2013 and subject to availability. All application forms and/or money transferred should be directed to KBC Bank Ireland plc in the Republic of Ireland and not its branch in Northern Ireland. KBC Bank Ireland plc is authorised and regulated by the Central Bank of Ireland. Registered in the Republic of Ireland Number 40537. Registered Office: Sandwith Street, Dublin 2, Ireland.
Q. Who is KBC Bank Ireland?
A. KBC Bank Ireland plc is a bank, which has been operating in Ireland for over 35 years and has been a member of the KBC group since 1978. Our parent KBC Bank NV is one of Europe’s largest banks, with an A- credit rating from Fitch and Standard & Poors. KBC Bank NV is a member of the KBC group. For more information please refer to the ‘About Us’ section of web site.
Q. Can I open an account online?
A. At this stage you cannot open an account fully online, however you may download an Application Form (PDF) complete and send to us in the post at our address at; KBC Bank Ireland, Sandwith Street, Dublin 2, Republic of Ireland.
Q. Do you have any offices in Northern Ireland?
A. Yes we have an office in Belfast.
Q. What type of services do they provide?
A. This office provides business banking and lending products and is committed to providing competitive financial solutions ensuring our clients receive best in class solutions to match their needs. However please note that this office does not and cannot accept any deposits from customers.
Q. Can I open an account via this office?
A. No, our Belfast office can only refer you to our Deposits Team who are based in our Dublin office. The telephone number is 0800 3895384
Q. Where is my account based?
A. Your account is with KBC Bank Ireland and is based in Dublin. Your funds are with KBC Bank Ireland denominated in Sterling.
Q. Do I pay Deposit Interest Retention Tax (DIRT) on my interest?
A. Interest is subject to Deposit Interest Retention Tax, currently charged at 33%. Exemptions from DIRT may be available for persons who are not resident for tax purposes in the Republic of Ireland, subject to the provision of certain documentation (Non Resident Declaration Form).
Q. What is the Select Access Demand Account?
A. This is a new Sterling Demand Deposit account.
Q. What is the interest rate on the account?
A. The Gross Interest Rate is 3%, refer to below:
|Tier||Gross Interest Rate||AER|
|£2,000 - £1,000,000||2.25%||2.25%|
Q. What are the minimum and maximum account balances?
A. The minimum account opening balance is £2,000 and the maximum account balance £1,000,000 (excluding interest added).
Q. After my account is opened can I lodge more funds to my account?
A. Yes, once the account is opened additional funds may be added to the account. There is a maximum account limit of £1,000,000 (excluding interest added).
Q. What happens if the account balance falls below £2,000?
A. There is no change to the rate on the customer's account, the rate remains at the same rate (currently 3.00% Gross/AER).
Q Do I have unlimited access to withdrawals on my account?
A. Yes you may withdraw any amount at any time when you make the request in writing.
Q. When is interest paid?
A. Interest is paid annually on 31st December each year.
Q. What is the maximum limit for a joint application?
A. The maximum account balance is £1,000,000 (excluding interest added) per account application whether single or joint. However two separate accounts must be opened and additional funds, subject to the maximum account balance of £1,000,000 can be lodged subsequently.