Bath Rugby Moneybox Savings Account
|
Bath Rugby Moneybox Savings Account |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5 |
£5 plus |
2.50 |
2.50 |
2.00 |
|
|
|
|
|
Rates effective from 1st December 2008
Children's Account
Stroud & Swindon Building Society is proud to be associated with Bath Rugby. The Bath Rugby Moneybox Account has been exclusively designed for young supporters of Bath Rugby. By opening a Bath Rugby Moneybox account you will not only receive a great rate of interest but also benefit the rugby club at the same time. At the end of each season Bath Rugby Community Foundation will receive a cash donation from Stroud & Swindon equivalent to 1% of the average total balance held on the account type throughout the year.
Features
- Instant access to your savings with no penalties for withdrawals
- Gross interest payable for eligible non-taxpayers
- Free piggy bank
- £5 Minimum initial investment required to open and operate the account
- No notice required for withdrawals
- £1 minimum, £500,000 maximum can be paid in by cash or cheque
Age restriction:
- Open only to younger savers under 18 (or adults on behalf of children). For young savers under 7, the account must be opened by one or more adults known as trustees
Restrictions on deposits:
- Coins totalling less than £25 will be accepted if sorted and bagged
Withdrawals:
- Up to £500 cash and £5,000 cheque
- Cheque withdrawals over £5,000 can be arranged at any branch
- No loss of interest
- Any cheques deposited must be cleared before a withdrawal can be made on them.
Interest:
- Interest rates on this account are variable
- Interest can be transferred to another account that you may have with us, or directly into your bank account
- Interest calculated on daily basis and credited annually to the account at midnight on 1st April
Tax:
- Account holders can usually have interest paid without the deduction of tax
- To qualify, Inland Revenue form R85 (available from any of our branches) should be completed by the young saver’s parent
How do I open a Bath Rugby Moneybox Savings Account?
Summary of account:
|
Summary Box
Key Product Information for our Bath Rugby Account |
|
Account name |
Bath Rugby Account |
|
Interest rates (AERs) |
Current rates are listed above. |
|
Tax status |
Gross or net of income tax |
|
Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
Instant Access |
| Access |
Branch |
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).