Information for savers and investors

Notice Deposit Accounts

A flexible account that offers you easy access to your funds, with deposit periods of 14 days, 3 months and 6 months with no maximum limit to funds deposited.

Fixed Deposit Accounts

The ideal deposit accounts for those wishing to invest in the longer term with deposit periods ranging from 1 to 5 years. Interest is fixed and guaranteed not to charge during the deposit selected.

Cheque Savings Accounts

A special kind of deposit account which is particularly suitable for those customers who want their savings readily available whilst earning a good rate of interest. A cheque book is supplied and provides the benefits of instant access to your funds. Whatever your choice can be assured that a Lombard deposit account will be a secure and confidential home for your money.

Useful language:

Asking for general information

Could you tell me more about…

I’d like some further information on…

Asking for more detailed information

How much interest would I earn if I opened a 3-month notice deposit account?

Would I be able to withdraw funds at short notice from a fixed deposit account?

How often would I be paid interest with a cheque savings account?

3. When you have finished preparing your questions, you should meet up with Student b. Make notes on the answers you receive and decide how you are going to invest your money. Student b

You work for the Lombard Bank and have an appointment with a prospective client (Student A) who would like to deposit some money with your bank. The bank offers three different types of account, details of which are given below. Study this information and be prepared to answer Student A’s questions and to give advice about which account(s) would best suit his or her saving requirements. It is essential that you study your documents in detail, making sure you fully understand how each of the accounts differ and what conditions each can offer for a given investment. Try to anticipate the types of questions that a potential customer (student A) might ask you. In particular you should be ready to answer questions about the following:

• Minimum/Maximum opening deposits

• Interest rates

• Dates of interest payments

• Restrictions on withdrawing money

Remember that, as a representative of the bank, you are trying to make a sale and you should therefore be as persuasive and helpful as they can during the role play.

Notice Deposit Account

This account exists in three forms (3 months, 6 months and 14 days) depending on the period of notice. The rates of interest vary according to the notice period and interest payments can be made directly to the client or added to the sum in his or her notice deposit account to earn further interest. Additional deposits can be made without restriction.

Type of account	Deposit Mm. Max.	Interest rates per annum	Interest payments
Notice Deposit 3 months 6 months 14 days	1000 — 1000 — 5000 —	8.75 (5.75*) 9.0 (6.0*) 9.25 (6.375*)	every 6 months every 6 months every 3 months
Note: *indicates interest rates payable when the balance is less than the minimum deposit.

Fixed Deposit Account

With this type of account funds are deposited for a fixed period of 1 to 5 years and earn interest at a fixed rate which is guaranteed not to change. The client can choose whether the interest is paid monthly, every three months, every six months or yearly. Interest can be paid directly to the client or added to the sum in the fixed term account. The client is not allowed to make withdrawals before the end of the fixed period of deposit. The minimum opening deposit is £1000 with a maximum limit of £250,000.

Type of account	Gross Rate % p.a. — interest paid annually
	Amount of deposit
	£1,000 - £24,999	£25,000 - £49,999	£50,000 - £250,000
Fixed Deposits 1 year fixed period 2 year fixed period 3 year fixed period 4 year fixed period 5 year fixed period	9.00 9.00 9.25 9.25 9.25	9.125 9.125 9.375 9.375 9.375	9.25 9.25 9.50 9.50 9.50

Cheque Savings Account

This is an account for customers who want easy and instant access to their money while continuing to earn interest. Interest is paid every three months and customers are supplied with a chequebook which can be used without restriction. Customers may withdraw up to £1000 in cash per day but are not allowed to become overdrawn. Statements are sent every 6 months.

Type of account
Cheque Savings Account When the balance is £1,000 to £4,999 When the balance is £5,000 and above	Interest paid
	3.75 6.00