7 Day Saver Account - Issue 1
|
7 Day Saver Account - Issue 1 |
|
Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5,000 to £500,000 |
With Bonus (until 31 December 2008) |
4.15 |
3.60 |
3.32 |
|
|
Without Bonus (Variable account rate) |
3.55 |
|
|
|
|
|
|
|
Rates effective from 1st December 2008
A great save
If you are looking for a savings account where you only need to provide 7 days notice for a withdrawal then the 7 Day Saver Issue 1 could be for you.
Features
- Benefit from a 0.60% gross variable bonus until 31 December 2008
- Underlying variable rate of 5.05% gross/AER
- The rate is also guaranteed to be no lower than the Bank of England Base Rate until 31 May 2009
- £5,000 minimum initial investment
- £500,000 maximum investment
- £100 required to operate the account
- Available from your local branch, agency, or via our Contact Centre on 08457 25 24 23
- Interest is variable on this account, calculated daily and paid annually at midnight on 1 April each year
Age restriction:
Restrictions on deposits:
- Coins not accepted
- No transfers allowed from other Stroud & Swindon accounts.
Withdrawals:
- 7 days notice required for withdrawals or loss of 7 days gross interest for withdrawals made without
- Withdrawals will be transferred direct to your bank or building society account via BACS (Bank Automated Clearing System) if you operate the account by phone
Interest:
- Interest rates on this account are variable
Tax:
- Interest will be paid or credited after deduction of income tax at the appropriate rate
- Non-taxpayers must first complete the appropriate HM Revenue and Customs declaration (R85) (Please contact your local Tax Office if you are unsure about your eligibility for tax-free interest)
How do I open a 7 Day Saver - Issue 1 Savings Account?
Note: No transfers are allowed from other Stroud & Swindon accounts.
This account is specifically for personal savers and is not available for business use.
Summary of account:
|
Summary Box
Key Product Information for our 7 Day Saver - Issue 1 |
|
Account name |
7 Day Saver - Issue 1 |
|
Interest rates (AERs) |
Current rates are listed above.
From 1 January 2009, the rate will revert to the variable account rate which is currently 5.05% AER. |
|
Tax status |
Gross or net of income tax |
|
Conditions for bonus payment |
0.60% gross bonus paid until 31 December 2008 |
| Withdrawal arrangements |
7 days notice required or loss of 7 days interest for withdrawals made without notice |
| Access |
Branch or agency |
Net rates assume the lower rate of income tax of 20%. These figures are rounded and are for illustrative purposes only.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded each year.
GROSS: The gross rate is the contractual rate of interest before the deduction of tax at the appropriate rate specified by law. Interest will be paid gross to non-taxpayers subject to the required HM Revenue and Customs certification (R85).