What is the interest rate?
|Interest is variable and paid annually on 31 March for branch based accounts or 30 April for direct accounts.
|£20 - £2,000 per month
|If more than two monthly payments are missed
Can the West Brom change the interest rate?
We may change the interest rate we pay on the Access Regular Saver at any time.
If the interest rate on your account falls, and the balance in your account is £100 or more, we will personally notify you of the change.
All our interest rates are available in our branches and on our website.
If you would like to find out more please read Sections 5d) and 5e) of your General Terms and Conditions.
What would the estimated balance be after 12 months based on a £20 per month deposit?
If you saved £20 per month in the Access Regular Saver the estimated balance after 12 months would be £240.97. This example assumes the initial deposit of £20 is made on 3 July 2017, which is the date from which the new rate of 0.75% Gross p.a./AER will apply, and all 11 subsequent deposits of £20 are made on the first day of each month and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.
If you saved £20 per month and you were to miss more than two monthly payments per account year, the estimated balance would change depending on when your third payment was missed. If you saved £20 per month for six months and then missed six subsequent deposits the estimated balance after 12 months would be £120.51. This example assumes the initial deposit of £20 is made on 3 July 2017, that five subsequent deposits of £20 are made on the first day of each month and that six subsequent deposits have been missed and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.
How do I open and manage my account?
This account can be opened and used at a branch, over the telephone or through the post. You cannot use this account online.
You can open the Access Regular Saver with a minimum deposit of £20. The minimum monthly deposit is £20 and the maximum monthly deposit is £2,000.
You can make additional deposits up to the maximum allowed each calendar month. Monthly payments made by standing order should be received by us by the 25th of each month to ensure they are processed and paid to your account by the end of the relevant calendar month.
If you miss more than two monthly payments during the account year (1 April to 31 March for branch accounts or 1 May to 30 April for direct accounts), a lower rate of interest will be paid for the remainder of the account year. At the start of the next account year the account will revert back to the higher variable rate available at that time.
Can I withdraw money?
You can make unlimited withdrawals with no notice period (subject to cash withdrawal limits).
Interest on this account is paid Gross, without the deduction of tax.