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Put money aside each month and watch your savings grow with our Fixed Rate Regular Saver. You can save as little as £10 per month and because it's a fixed rate, you will know how much your savings will grow by in a year.
| 6.00% Gross p.a./AER fixed | |
| Interest Tier | Annual |
| £10 - £250 per month | AER 6.00% Gross 6.00% |
Fixed Rate Regular Saver (Issue 7)
| Interest Tier | Annual | Monthly | ||
|---|---|---|---|---|
| AER | Gross | AER | Gross | |
| Interest is fixed and paid on the anniversary of the account opening. Monthly interest is not available on this account. | ||||
| £10 - £250 per month | 6.00% | 6.00% | N/A | N/A |
The interest rate is fixed, so it will not change during the 12 month term of the account.
|
Deposited amount |
Estimated value after 12 months |
|
£250 per month |
£3,097.46 |
This example assumes:
This example is provided to help you compare savings accounts and does not take into account any individual circumstances.
You can open and manage this account in branch or online. To open an account online you must be an existing customer or live in one of our branch postcode areas (B, DY, WV, WS and SY). You cannot open this account over the phone or by post.
The minimum opening deposit is £10. The minimum monthly deposit is £10 and the maximum monthly deposit is £250. The maximum total investment over the 12 month term is £3,000.
Once open, you will manage this account in any of our branches.
Our savings portal is available for all accounts which have been opened in a branch, by post/telephone or via our website. For more information about how to register for our savings portal and the access our savings portal provides, please visit www.westbrom.co.uk/savingsportal
You can make any number of monthly payments up to the maximum of £250. If you pay in more than the maximum monthly deposit of £250 in any calendar month, we reserve the right to return the overpayment to you. You can:
You don’t have to make a deposit every month.
You cannot make any withdrawals from your Fixed Rate Regular Saver until the end of the fixed term. This includes closing the account or moving your money to another savings account with the West Brom.
At the end of the 12 month term, your savings (including interest earned) will be reinvested in a variable rate easy access account.
If you change your mind after you’ve opened your account, don’t worry. If you tell us within 14 calendar days, we’ll give you your money back with interest straightaway.
We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
We will write to you, within 14 calendar days before your account matures, to let you know that your Fixed Rate Regular Saver (Issue 7) is coming to an end and remind you that we will automatically reinvest your funds into a variable rate easy access account.
Gross – is the rate of interest payable before the deduction of tax.
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. All rates quoted are correct as at 05/10/2023.
Identification – when you open an account with the West Brom we may need to confirm your identity. For full details on why this is required and the types of identification accepted please refer to the Society’s ‘Important information on identification’ leaflet.
Personal Savings Allowance – the Personal Savings Allowance was introduced on 6 April 2016 and means that the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers are free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we stopped deducting any tax from the interest paid to you (ISAs are tax-free). You are responsible for paying any tax due to HM Revenue & Customs (HMRC). For further information about the Personal Savings Allowance, please contact your local HMRC office.
Protection for savers – your eligible deposits with the West Brom are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits held above the limit are unlikely to be covered. You can visit www.fscs.org.uk for more information.
Here you will find both Product Specific and General Terms and Conditions.
The information provided in the Summary Box is a summary of the key features of the Fixed Rate Regular Saver (Issue 7). You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Use our branch finder to find your nearest branch.
You can apply for this account online as a sole applicant. Once your account has been opened you can register for our Savings Portal to see your account online.
Whether you are saving up for something special or just building up some cash for that 'rainy day', setting yourself a savings goal can really help you reach your target faster.
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Your eligible deposits with West Bromwich Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
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