Credit balances in clients’ portfolios will be held in a deposit account paying a rate of interest as shown below:
Credit interest is calculated from the date on which we receive the funds up to the date of withdrawal or the settlement of purchases. Interest payable is distributed gross, twice yearly in April and October.
Debit balances are charged with reference to our custodian’s client overdraft rate. Our primary custodian client overdraft rates per currency are:
Credo currently charges 7% above our custodian’s client overdraft rate.
Applicable rates on other major currencies are available on request.
(*) Rates updated as at 2nd November 2017