Archives: FAQ - Savings

Key Features

• Variable interest rate of 1.60% gross* p.a./AER**
• Minimum interest rate guarantee of 1.00% gross* p.a./AER**
• No notice withdrawals
• View your account and send secure messages via our online service (restrictions apply)
• Operation also available via free First Class Business Reply post
• Minimum balance required to keep the account open is £5
• The maximum investment is £500,000
• Interest payable on 31 December
• Statements issued annually in January
• This Deposit account has no voting rights

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

Key Features

• Variable interest rate of 1.75% gross* p.a./AER**
• No notice withdrawals
• £5 minimum balance required to keep account open
• Interest payable on 31 December
• Statements issued annually in January
• Voting rights available (1)

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

Key Features

• Variable interest rate of 3.60% gross* p.a./AER**
• No notice withdrawal
• Minimum balance required to keep the account open is £5.
• Interest payable on 31 December
• Statements issued annually in January
• Voting right available (1)

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.

Key Features

• Variable interest rate of 1.60% gross* p.a./AER**
• Minimum interest rate guarantee of 1.00% gross* p.a./AER**
• No notice withdrawals
• View your account and send secure messages via our online service (restrictions apply)
• Operation also available via free First Class Business Reply post
• £5 minimum balance required to keep account open
• The maximum investment is £500,000
• Interest payable on 31 December
• Statements issued annually in January
• This Deposit account has no voting rights

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

No additional deposits can be made on this account.

Key Features

• Variable interest rate of 1.60% gross* p.a./AER**
• Minimum interest rate guarantee of 1.00% gross* p.a./AER**
• No notice withdrawals
• View your account, request withdrawals and send secure messages via our online service (restrictions apply)
• Operation also available via free First Class Business Reply post
• £5 minimum balance required to keep account open
• Interest payable on 31 December
• Statements issued annually in January
• Voting rights available ⁽¹⁾

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.

Key Features

• Notice period is currently waived
• Tiered variable interest rates depending on your account balance as follows:
  • £500 - £24,999         1.75% gross* p.a./AER**
  • £25,000 and over     1.75% gross* p.a./AER**
• Minimum interest rate guarantee of 1.00% gross* p.a./AER**
• Please note after 8 July 2021 no additional deposits can be made on this account
• View your account, request withdrawals and send secure messages via our online service (restrictions apply)
• Operation also available via free First Class Business Reply post
• £5 minimum balance required to keep account open
• Interest payable on 31 December
• Statements issued annually in January
• Voting rights available⁽¹⁾

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.

No additional deposits can be made on this account.

Key Features

• Variable interest rate of 1.60% gross* p.a./AER**
• Minimum interest rate guarantee of 1.00% gross* p.a./AER**
• No notice withdrawals
• View your account, request withdrawals and send secure messages via our online service (restrictions apply)
• Operation also available via free First Class Business Reply post
• £5 minimum balance required to keep account open
• Interest payable on 31 December
• Statements issued annually in January
• Voting rights available⁽¹⁾

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.

Key Features

• Variable interest rate of 1.60% gross* p.a./AER**
• No notice withdrawals
• £5 minimum balance required to keep account open
• Interest payable on 31 December
• Statements issued annually in January
• Voting rights available ⁽¹⁾

*We pay all savings interest gross, which means that no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

**AER stands for Annual Equivalent Rate and provides a means of comparing interest rates by showing what the rate would be if interest was paid and added once a year.

1) Voting rights are available to those individuals aged 18 or over whose account balance was not less than £100 between the Society’s previous financial year end (or other date as specified in the rules) and the date of voting.