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Savings & Investments
RegularSaver
When something's worth saving for.
Save any monthly amount from £20 to £500 and you can bank on a competitive variable interest rate plus an annual RegularSaver Bonus.
It’s a great way to save for something special because you can make one annual withdrawal without loss of bonus.
You can vary the amount you save each month, too, so long as you save between £20 and £500 every month, to qualify for the annual Bonus. Only one deposit per month can be made.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | RegularSaver (Issue 2) |
| Interest Rates (AERs) | 0.05% Gross§ p.a./AER† (variable) excluding 3% (variable)
conditional Bonus. 3.05% Gross§ p.a./AER† (variable) including 3% (variable) conditional Bonus. |
| Tax Status | The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross. |
| Conditions for bonus payment | 3% (variable) Bonus payable annually on 1 March (provided you maintain your monthly payments and make no more than one withdrawal per Bonus period. Each Bonus period is from 1 March to 28 February (29 February in a leap year)). |
| Withdrawal arrangements | One withdrawal is permitted each Bonus period. If a second withdrawal is required you will not qualify for a Bonus in respect of that period. |
| Access | Account can be opened and operated through any of our branches or by post. |
Rates correct at 13 August 2010
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum monthly payment is £20 and the maximum monthly payment is £500.
When is interest paid?
Interest is paid annually on 1 March.
How is interest paid?
Interest can either be credited to the account ot transferred either to another building society/bank account or to another account held with the Society.
Example of how much interest you could earn
Based on the interest rates quoted above, if you open your account on 1 March and you save £500 per month for 12 consecutive months, you will receive gross interest of £98.60 on 1 March the following year, providing you do not make more than one withdrawal during the bonus period (1 March to 28 February (29 February in a leap year)).
