If you are looking to save each month, but still want to have unlimited access to your money, our Access Regular Saver could be the account for you.
|1.15% Gross p.a./AER Variable|
|£20 - £2,000 per month||AER 1.15% Gross 1.15%|
|If more than two monthly payments are missed the account will pay a lower rate of interest until the end of the account year||AER 0.25% Gross 0.25%|
Access Regular Saver
|Interest is variable and paid annually on 31 March for branch based accounts or 30 April for direct accounts.|
|£20 - £2,000 per month||1.15%||1.15%||N/A||N/A|
|If more than two monthly payments are missed the account will pay a lower rate of interest until the end of the account year||0.25%||0.25%||N/A||N/A|
We may change the interest rate we pay on the Access Regular Saver 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.
All our interest rates are available in our branches and on our website.
If you would like to find out more please read Sections 5d) and 5e) of your General Terms and Conditions.
If you saved £20 per month in the Access Regular Saver the estimated balance after 12 months would be £240.83. This example assumes the initial deposit of £20 is made on 28 April 2020 and all 11 subsequent deposits of £20 are made on the first day of each month and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.
If you saved £20 per month and you were to miss more than two monthly payments per account year, the estimated balance would change depending on when your third payment was missed. If you saved £20 per month for six months and then missed six subsequent deposits the estimated balance after 12 months would be £120.61. This example assumes the initial deposit of £20 is made on 28 April 2020, that five subsequent deposits of £20 are made on the first day of each month and that six subsequent deposits have been missed and there are no changes to the interest rate paid on the account over the 12 months. It is provided for illustrative purposes only and does not take into account your individual circumstances.
This account can be opened and used at a branch, over the telephone or through the post. You cannot use this account online.
You can open the Access Regular Saver with a minimum deposit of £20. The minimum monthly deposit is £20 and the maximum monthly deposit is £2,000. The minimum operating balance once the account is open is £1.
You can make additional deposits up to the maximum allowed each calendar month. Monthly payments made by standing order should leave your bank account by the 23rd of each month to ensure they are processed and paid to your account by the end of the relevant calendar month.
If you miss more than two monthly payments during the account year (1 April to 31 March for branch accounts or 1 May to 30 April for direct accounts), a lower rate of interest will be paid for the remainder of the account year. At the start of the next account year the account will revert back to the higher variable rate available at that time.
You can make unlimited withdrawals with no notice period (subject to cash withdrawal limits).
Interest on this account is paid Gross, without the deduction of tax.
Gross interest – Gross is the rate of interest without the deduction of tax.
AER – stands for Annual Equivalent Rate and this illustrates the amount of interest paid on your account if it were to be paid and compounded once a year. All rates quoted are correct as at 06/04/2020.
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.
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 Access Regular Saver. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
Download and complete your application form, then send it to us to apply.
Whether you are saving up for something special or just building up some cash for that 'rainy day', setting yourself a savings goal can really help you reach your target faster.View guide
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.