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Savings Products

	Branch Easy Access
	Branch Notice Accounts
	Children's Accounts
	Company Accounts
	Direct Accounts
	Fixed Rate Bonds
	ISAs
	Privileged Membership Accounts
	Withdrawn Accounts

Frequently Asked Questions

Our Savings Rates At A Glance

No Notice Saver - Direct


		Features of the 'No Notice Saver - Direct'



		Direct Savings Account with three withdrawals allowed each account year (1st May – 30th April) without notice Where more than 3 withdrawals are made in an account year or the account falls below £1,000, it will attract a rate of 0.05% Gross p.a./AER variable only The minimum opening balance is £1,000. The maximum investment is £1,000,000 (single and joint) Variable rate account guaranteed not to fall below Bank of England base rate until 30/04/2010 Investors can make additional investments at any time

		Minimum Investment			£1000

		Product Type			Direct Accounts

		Interest paid			Interest is paid annually on 30th April or monthly on the last working day of each month

Summary Box
Key Product Information for our Savings Account(s)

Account Name

No Notice Saver - Direct

Interest rates (AER's)

Tier

Annually

Monthly

AER

Gross

Net

AER

Gross

Net

£1 - £999

0.05%

0.04%

0.05%

0.04%

£1,000 - £1,000,000

2.60%

2.08%

2.60%

2.57%

2.06%

Effective Date

31/12/2009

Tax Status

Gross / Net

Conditions for bonus payment

N/A

Withdrawal arrangements

There is no notice period or charge for withdrawal for up to three withdrawals. Minimum withdrawal is £250. For a fourth, or any subsequent withdrawals in an account year (1st May to 30th April), will see the remaining balance receive a rate of 0.05% Gross p.a. / AER variable only. At the start of the next account year, providing your balance is above the minimum £1,000, your account will revert back to the higher variable rate available at that time. Please note: transfers to another account are deemed as withdrawals (except where you have arranged to have monthly interest paid to another account).

Access

By post or 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.


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