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)
Investors can make additional investments at any time
To apply for this product, please click the 'Apply by post' button. The first part of the application is completed online, following which you will need to send us the completed form by post. Please note you will need a printer to complete the application.
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
Historical Rates
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%
0.05%
0.04%
0.05%
0.05%
0.04%
£1,000 - £1,000,000
2.60%
2.60%
2.08%
2.60%
2.57%
2.06%
Effective Date
31/12/2009
Variable Rate
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.
