Business Deposits - Terms and Conditions FAQ

  • A negative interest rate is an interest rate that is less than zero. This means that where a negative interest rate applies to your account you pay KBC Bank Ireland interest.
  • If a decision is made to apply negative interest rates, we will give 10 days’ notice in advance of any change by placing an advertisement in two National Newspapers and post this notice to our website. We will also issue customer letters or emails in advance of applying negative rates.

    Check out the latest Deposit Account Rates.
  • For Business Demand Deposit Accounts, any negative interest due to us will be automatically deducted from your account balance each month. This will reduce the balance in your account.

    For Fixed Term Business Deposit Accounts, any negative interest due to us will be deducted from the balance at the end of your fixed term. The amount of negative interest applied will be noted on your Fixed Term Confirmation Letter.
  • If you make a withdrawal request before the end of the month, we will check your account before releasing the money to you to make sure you’ll have sufficient funds to pay for any negative interest calculated up to the date of the withdrawal.

    If we find you’ll have insufficient funds to pay for this negative interest, we may deduct it from the withdrawal amount requested or not process your withdrawal request until the amount you have requested to withdraw is reduced so that there will be a sufficient balance remaining in your account to pay any negative interest due. This will ensure that your account balance will not fall below zero when the negative interest is charged.

Other changes that may impact Business Deposit Account customers:

The Terms & Conditions have been updated to note that Business Deposit Accounts are no longer available to open, effective 18th December 2020.