This product is no longer available to new applicants.
This product is no longer available to new applicants.
Variable rate account operated by post or in a branch. If balance falls below £1,000 a reduced rate of 0.05% gross p.a./AER is payable.
6 withdrawals are permitted each account year without notice or charge (subject to normal withdrawal limits). On the 7th withdrawal your account will be closed and your funds returned to you.
Withdrawals can be made on demand at a branch but for direct accounts all withdrawals are paid by BACS to nominated bank account.
Please ensure that you read the Society's General Terms & Conditions available within our Frequently Asked Questions.
Minimum Investment
£1000
Product Type
Withdrawn Accounts
Interest paid
Annually on 30th April and monthly on last working day of month.
Historical Rates
Summary Box Key Product Information for our Savings Account(s)
Account Name
Stratus (Withdrawn)
Interest rates (AER's)
Tier
Annually
Monthly
AER
Gross
Net
AER
Gross
Net
£1 - £999
0.05%
0.05%
0.04%
0.05%
0.05%
0.04%
£1,000 - £1,000,000
2.00%
2.00%
1.60%
2.00%
1.98%
1.58%
Effective Date
30/03/2009
Variable Rate
Tax Status
Gross / Net
Conditions for bonus payment
N/A
Withdrawal arrangements
There is no notice period for withdrawal (subject to branch cash withdrawal limits) There is no charge for up to six withdrawals in an account year (1 May to 30 April) paid by BACS direct to your nominated bank/building society account. Withdrawals via any other method will incur a charge. Please refer to Tariff of Charges leaflet for more details. A seventh withdrawal will result in closure of the account.
Access
At a branch / by post / by telephone
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.
