Trustee Savings Plans
If you have been made the Trustee of a Trust savings plan account, you have the responsibility of making sure the financial assets of the Settlor are safe and secure, and that the right amount of money goes to the Beneficiary upon maturity.
There are a variety of options to consider when setting up a Trustee savings account. At Fair Investment, we work with a number of companies to offer a range of Trustee savings accounts that are suitable for a range of different Trust types.
For the latest trustee savings plans, have a look at the product comparison tables on this page.
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If you're looking for potentially higher returns than those available from traiditional savings accounts or fixed rate bonds, you might want to consider an alternative. Structured deposit plans for trusts are capital protected deposits, with potential returns that are dependent on the performance of an Index, such as the FTSE 100.
See below for a range of structured deposits that are available to trustees.
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Provider | Plan Name | Maximum Potential Return* | Term | More Info |
---|---|---|---|---|
FTSE 100 Kick Out Deposit Plan | 6% per annum | Up to 6 years | More Info > | |
Capital protected deposit plan with the potential to mature after years 3, 4, 5 and 6. If the plan matures early it will return 6% times the number of years the plan has been in force. Also available for Cash ISA and ISA transfer. |
If you have been made the Trustee of a close one’s assets it is your responsibility to take care of the capital assets of the deceased person until their chosen beneficiary is mature enough to deal with their own finances. The Settlor (the person who has the assets) gives another person (called a Trustee) the responsibility of setting up a Trustee savings account which they should manage on behalf of the Beneficiary (the person who is due to inherit the assets of the Settlor upon maturity).
If you want to set up a trustee savings account it is important to compare financial products. The internet is a great resource to do this and you may wish to take a look at our comparison tables to compare a range of Trustee savings plans and accounts with varying rates of interest and length of terms:
You should keep your tax responsibilities in mind with regards to your Trustee savings plan. If the Trust savings plan generates income in the form of interest it is important that you notify HMRC before taking your share.
Your entitlement to the interest accumulated in the Trust account depends on which type of Trustee savings account deal you have signed up to, so make sure you have studied the detail of each product properly.
Savings Accounts Provider Reviews
- AA Savings
- Abbey Savings Accounts
- Access Bank Savings Accounts
- Alliance and Leicester Savings Accounts
- Bank of Scotland Savings Accounts
- Barclays Savings Accounts
- Barnsley Building Society Savings Accounts
- Bath Building Society Savings Accounts
- Birmingham Midshires Savings Accounts
- Bradford and Bingley Savings Accounts
- Britannia Building Society Savings Accounts
- Cahoot Savings Account
- Cambridge Building Society Savings Accounts
- Chelsea Building Society Savings Accounts
- Cheltenham and Gloucester Building Society Savings Accounts
- Cheshire Building Society Savings Accounts
- Clydesdale Bank Savings Accounts
- Co-operative Bank Savings Accounts
- Coventry Building Society Savings Accounts
- Darlington Building Society Savings Accounts
- Dunfermline Building Society Savings Accounts
- First Direct Savings Accounts
- FirstSave Savings Accounts
- Ford Money Savings Accounts
- Halifax Savings Account
- HBOS Savings Accounts
- HSBC Savings Accounts
- ICICI Savings Accounts
- Intelligent Finance Savings Accounts
- Investec Bank Savings Accounts
- Ipswich Building Society Savings Accounts
- Julian Hodge Bank Savings Accounts
- Kent Reliance Building Society Savings Accounts
- Leeds Building Society Savings Accounts
- Lloyds Savings Accounts
- Manchester Building Society Savings Accounts
- Marsden Building Society Savings Accounts
- Melton Mowbray Building Society Savings Accounts
- Metro Bank Savings Accounts
- Monmouthshire Building Society Savings Accounts
- National Counties Building Society Savings Accounts
- Nationwide Savings Accounts
- Natwest Savings Accounts
- Newbury Building Society Savings Accounts
- Newcastle Building Society Savings Accounts
- Northern Bank Savings Accounts
- Northern Rock Savings Accounts
- Norwich and Peterborough Building Society Savings Accounts
- Nottingham Building Society Savings Accounts
- Post Office Savings Accounts
- Principality Building Society Savings Accounts
- Progressive Building Society Savings Accounts
- RBS Savings Accounts
- RCI Bank Savings Accounts
- Royal Bank of Scotland Savings Accounts
- Saffron Building Society Savings Accounts
- Sainsbury's Bank Savings Account
- Santander Savings Accounts
- Scarborough Building Society Savings Accounts
- Scottish Building Society Savings Accounts
- Scottish Widows Bank Savings Accounts
- Skipton Building Society Savings Accounts
- Smile Savings Account
- Standard Life Bank Savings Accounts
- Stroud and Swindon Savings Accounts
- Teachers Building Society Savings Accounts
- Tesco Savings Accounts
- Vanquis Bank Savings Accounts
- Vernon Building Society Savings Accounts
- Wesleyan Bank Savings Accounts
- West Bromwich Building Society Savings
- Yorkshire Building Society Savings Accounts