An easy access account
paying a higher rate of interest without
all the restrictions some other banks
and building societies impose
"earn 4.35% gross" (variable)
With
effect from 1 March 2008
Important
: This account can only be opened and operated
through our branch and agency
network
For an application form you can simply pop in
to our branch or one of our agencies
Main features of the account
Minimum
opening deposit £25. Minimum balance
£1.
A minimum
monthly payment of £25 is required by
standing order. If you apply directly
to our Head Office a standing order
form will be sent to you with your welcome
letter. However if you apply via a branch
or agent you will be handed a standing
order form to complete.
Note: If regular payments are not maintained (minimum £25 per month) the account will revert to our easy access account which pays a lower rate of interest.
Proof of identity and address verified electronically in the first instance.
Take money
out of your account when you need it
- up to £500 cash, £50,000 by cheque
from any branch (lower limits may apply
at our agencies).
Interest
is added to the account annually on
5 April.
Minimum Opening Deposit
£25
Gross
Rate % p.a./AER
Net
Rate % p.a.
£1 and over
4.35
3.48
With
effect from 1 March 2008 the above rates
will apply
Annual
Equivalent Rate or AER illustrates
what the interest rate would be if the interest
was paid and added each year. Please note
that every advertisement for a savings product
which quotes an interest rate will contain
an AER allowing you to compare at a glance
what return you can expect from your savings
over time.
AER - interest which is paid annually
on 5 April is the same as the appropriate
gross rate or tax free rate. For accounts
where the interest is paid monthly the AER
is shown.
Gross rate is the rate of interest
before deduction of income tax.
Net rate is the rate after deduction
of income tax which is currently 20%. Subject
to the required certification non tax payers
will be able to receive any interest at
a gross rate.
