Features of the 'Branch Bonus Account 2 (Withdrawn)'
This product is no longer available to new applicants.
This product is no longer available to new applicants.
New funds only
Limited issue
2.65% AER Variable (which includes a 0.6% Bonus up to 31st October 2010) 3.00% Gross p.a. Variable
2 withdrawals per account year (1 April - 31 March) - Further withdrawals will result in a lower account interest rate of 0.30% AER Gross p.a. Variable (including 0.6% bonus paid up to 31st October 2010)
Minimum opening/operating balance £100
Minimum Investment
£100
Product Type
Withdrawn Accounts
Interest paid
Interest is paid annually on 1st April (calculated to 31 March), or if required, paid monthly, on the last working day.
Summary Box Key Product Information for our Savings Account(s)
Account Name
Branch Bonus Account 2 (Withdrawn)
Interest rates (AER's)
Tier
Period or Bonus
Annually
Monthly
AER
Gross
Net
AER
Gross
Net
£100 - £100,000
With 0.6% bonus up to 31 October 2010*
2.65%
3.00%
2.40%
2.65%
2.96%
2.37%
£100 - £100,000
From 1 November 2010*
2.40%
2.40%
1.92%
2.40%
2.37%
1.90%
Effective Date
01/06/2010
Tax Status
Gross/Net
Conditions for bonus payment
N/A
Withdrawal arrangements
*There is no notice period or charge for withdrawal (subject to branch cash and cheque limits) for up to two withdrawals. For the third and subsequent withdrawals in the same account year (1 April – 31 March) will see the remaining balance receive a rate of 0.30% Gross p.a. / AER variable (which includes a 0.6% bonus paid up to 31st October 2010). At the start of the next account year, providing your balance is above the minimum £100, your account will revert back to the higher variable rate available at that time. Please note: transfers to another account are deemed as withdrawals.
Access
Branch. Additional investments can be made at any time up to the maximum allowed.
Gross means without UK income tax deducted
Net means the rate of interest which would be payable after allowing for deduction of income tax at the specified rate i.e. assuming rate of income tax at 20%. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rates are illustrative only and have been rounded to two decimal places. Tax-Free is the contractual rate of interest payable where interest is exempt from income tax.
