Interest is calculated daily and paid annually at 31 December into this 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 £1,017.50. 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.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year, and has been rounded to 2 decimal places.3.
We have no current plans to withdraw this product although it can be withdrawn without notice.
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.
For important information, including Savers General Terms and Conditions and identification, please click below for full details.
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