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Looking for tax-free savings?

Earn 5.10% Tax-free p.a./AER with our WeBSave 60 Day Notice Account

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Notice Accounts

Notice Savings Accounts allow you to obtain a higher interest rate without having to lock your money away for a fixed term.

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60 Day Notice Account

If you don't require instant access to your savings, our 60 Day Notice Account may be for you.

Key features

  • A variable rate of interest of 5.25% gross p.a./AER
  • Minimum opening and operating balance of £1; maximum balance of £1,000,000
  • Make withdrawals by giving us 60 days’ notice to withdraw money
  • Make additional deposits at any time up to the maximum allowed
  • Interest is paid annually or monthly. Monthly interest must be paid to another bank or building society account
  • You can only open this account online. You cannot open this account over the phone, by post or in branch.
5.25% Gross p.a./AER Variable
Interest Tier Annual
£1 - £1,000,000 AER 5.25% Gross 5.25%
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Summary Box

Account Name

60 Day Notice Account

What is the interest rate?

Interest Tier Annual Monthly
AER Gross AER Gross
Interest is variable and paid annually or monthly. Annual interest can be added to the account or paid into another bank/building society account. Monthly interest must be paid into another bank/building society account. Annual interest is paid on 30 April. Monthly interest is paid on the last day of the month.
£1 - £1,000,000 5.25% 5.25% 5.25% 5.13%

Can the West Brom change the interest rate?

The interest rate is variable, so it can go up or down at any time.

If the interest rate on your account falls, and the balance in your account is £100 or more, we will personally notify you of the change.

For details about why we may change the interest rate, as well as how and when we’ll let you know, please refer to sections 5d) and 5e) of our General Terms and Conditions (which are available in our branches and on our website).

All our interest rates are available in our branches and on our website.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Deposit amount

Estimated value after 12 months

£1,000

£1,052.50


This example assumes:

  • You make the deposit on the day you open the account.
  • You don’t pay more money into the account or make any withdrawals.
  • The interest rate stays the same.

This example is provided to help you compare savings accounts and does not take into account any individual circumstances.

How do I open and manage my account?

You can only open this account online. You cannot open this account over the phone, by post or in branch.

The minimum opening deposit is £1 and the maximum balance is £1,000,000. The minimum operating balance once the account is open is £1.

Once open, you will be able to access your account using our savings portal. For more information about how to register for our savings portal and the access our savings portal provides, please visit www.westbrom.co.uk/savingsportal.

You can pay any amount into your account, up to the maximum account balance.

Can I withdraw money?

You can make as many withdrawals as you like from this account. Whenever you want to withdraw money, or close the account, simply give us 60 days’ notice to access your savings. You cannot make an immediate withdrawal outside of the notice period.

The 60 day notice period starts on the day that you give us the instruction that you would like to make a withdrawal or close the account. You can only have one notice period active at any time. If you want to apply another notice period, you need to wait until the current notice period has ended.

Additional information

If you change your mind after you’ve opened your account, don’t worry. If you tell us within 14 calendar days, we’ll give you your money back with interest straightaway.

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.

You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.

Did you know?

Gross interest – is the rate of interest payable before the deduction of tax.

AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. All rates quoted are correct as at 22/01/2024.

Identification – when you open an account with the West Brom we may need to confirm your identity. For full details on why this is required, and the types of identification accepted, please refer to the Society’s 'Important information on identification' leaflet.

Personal Savings Allowance – the Personal Savings Allowance was introduced on 6 April 2016 and means that the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers are free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we stopped deducting any tax from the interest paid to you (ISAs are tax-free). You are responsible for paying any tax due to HM Revenue & Customs (HMRC). For further information about the Personal Savings Allowance, please contact your local HMRC office.

Protection for savers – your eligible deposits with the West Brom are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits held above the limit are unlikely to be covered. You can visit www.fscs.org.uk for more information.

Terms and conditions

Here you will find both Product Specific and General Terms and Conditions.

The information provided in the Summary Box is a summary of the key features of the 60 Day Notice Account. You should also read the Product Specific Terms and Conditions and the General Terms and Conditions which relate to this account.

You can apply for this account online as a sole applicant. Once your account has been opened, you will then be able to add an additional account holder by completing our Add/Delete account holder form and register for our Savings Portal to see your account online.

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