Where
P = Amount withdrawn
R = Replacement Interbank Market Rate
D = Deposit Interbank Market Rate
T = Remainder of fixed term in days

Example
You wish to withdraw $100,000; the deposit Market Rate was 3.5%; the Replacement Market Rate is 5.255 on the date of withdrawal; the remaining term is 62 days.

Minimum 1% = $1,000
therefore the fee = $1,000

* for sterling deposits divide by 36500
for currency deposits divide by 36000

For further information please email us at BOIMarketing@boiuk.com or call 020 7236 2000

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