Interest is paid annually on 1 April (calculated to 31 March).
Summary Box Key Product Information for our Savings Account(s)
Account Name
Branch Easy Access Saver
Interest rates (AER's)
Tier
Annually
Monthly
AER
Gross
Net
AER
Gross
Net
£1 - £999
0.05%
0.05%
0.04%
N/A
N/A
N/A
£1,000 - £1,000,000
2.30%
2.30%
1.84%
N/A
N/A
N/A
Effective Date
09/08/2010
Variable Rate
Tax Status
Gross / Net
Conditions for bonus payment
N/A
Withdrawal arrangements
There is no notice period or charge (subject to branch cash and cheque limits) for up to two withdrawals. For a third, or any subsequent withdrawals in an account year (1st April to 31st March), the remaining balance will 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.
Access
At a branch
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.
