If the balance falls below £1, a variable rate of 0.10% Gross / AER will be paid.
Interest is calculated daily and paid annually at 31 December into this account or a nominated account as stated on your application form. You can also choose to have your interest paid monthly into a nominated account.
Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 7 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.
The estimated balance after 12 months based on an initial deposit of £1,000 would be £1,001.50. This estimation assumes that £1,000 is deposited on 1 January with no deposit or withdrawal transactions made and interest subsequently paid gross at 31 December.
This projection is provided for illustrative purposes only and does not take into account the individual circumstances.
Upon opening one of these accounts you will automatically become a member and be bound by the Society’s Rules, a copy of which is available on request.
The Society operates a 14 day cancellation period, so if you change your mind about opening an account you will receive back all your original capital plus any interest accrued.
Accounts cannot be operated by a third party unless a Power of Attorney is in place.
Forms to download
Download and complete the application form and return it to us by post or to the branch.
You must read the Information Sheet which gives all the details of the FSCS and how you are covered.
The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).
In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account with the Society. Click here to see the list of required ID documents.
For important information, including Savers General Terms and Conditions and identification, please click below for full details.
We’ve tried to provide all the information you need, but sometimes it helps to ask in person and we’re here to help…