Interest rate change
6 September 2016
Change of rate of interest paid on bank balances held by schools in the KCC schools corporate scheme
As you may be aware KCC has for some time been paying interest at 1% on credit balances held by schools in the corporate scheme with NatWest, and this rate will be cut to 0.75% from 1 October 2016.
The decision to reduce the KCC rate has been made in the context of falling interest rates payable by the banks etc. which is impacting the return KCC can earn on its invested cash.
Contact Details
Schools Financial Services
Telephone: 03000 41 54 15
Email: schoolsfinancialservices@kent.gov.uk