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If you are looking to manage your savings online and you are happy to provide advanced notice if you require access to your money, our WeBSave 60 Day Notice ISA (Issue 2) may be for you.
| 5.10% Tax-free p.a./AER Variable | |
| Interest Tier | Annual |
| £1 - £1,000,000 | AER 5.10% Tax-Free 5.10% |
WeBSave 60 Day Notice ISA (Issue 2)
| Interest Tier | Annual | Monthly | ||
|---|---|---|---|---|
| AER | Gross | AER | Gross | |
| Interest is variable and paid annually or monthly. Interest can be added to the account or paid into another account. Annual interest is calculated to 5 April and paid on 6 April each year. Monthly interest is paid on the first working day of the following month. | ||||
| £1 - £1,000,000 | 5.10% | 5.10% | 5.10% | 4.98% |
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.
|
Deposit amount |
Estimated value after 12 months |
|
£1,000 |
£1,051.00 |
This example assumes:
This example is provided to help you compare savings accounts and does not take into account any individual circumstances.
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 up to your annual Cash ISA limit of £20,000 for the tax year 6 April 2024 - 5 April 2025. The maximum balance is £1,000,000 (including transfers from other Cash ISAs) and the minimum operating balance is £1.
Once open, you will manage this account online.
You can pay any amount into your account, up to the annual Cash ISA limit. Transfers from other Cash ISAs can also be made at any time providing the total amount in the account does not exceed the maximum balance of £1,000,000.
If you want to make a withdrawal (including transfers or account closure) you will need to give us 60 days notice or you can withdraw earlier at a charge equivalent to 60 days loss of interest.
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.
This charge will be deducted from any interest you have earned. If you have not earned enough interest on your account to cover the charge, the amount will be taken from your account balance.
Please remember, if you withdraw from your account you cannot reinvest that amount back into that account in the same tax year if your total deposits will exceed the annual Cash ISA limit. For example, if you invest the full Cash ISA allowance for the tax year 6 April 2024 - 5 April 2025 of £20,000 into a WeBSave 60 Day Notice ISA (Issue 2) and later withdraw £1,000 from the account, you will not be able to reinvest this amount back into the account.
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 tax-free. This means you will not pay income tax on the interest you earn.
You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Tax-free – means you will not pay income tax on the interest you earn.
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 06/04/2024.
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.
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 WeBSave 60 Day Notice ISA (Issue 2). You should also read the Product Specific Terms and Conditions, WeBSave Service Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Once your account is open, you will receive a Welcome email confirming your account log in information. Once you have logged into your online account you will be able to access a secure message which will provide you with full details on how to operate your account.
Your Authentication Code will be sent via post. This normally arrives within 3-5 working days from the date your account is opened.
For further help and frequently asked questions visit our West Brom WeBSave help section.
Your eligible deposits with West Bromwich Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
