Direct Easy Access Savings Account
|
Direct Easy Access Savings Account |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£2,000 |
£50,000 plus |
1.75 |
1.75 |
1.40 |
|
|
£25,000 to £49,999 |
1.30 |
1.30 |
1.04 |
|
|
£10,000 to £24,999 |
1.05 |
1.05 |
0.84 |
|
|
£5,000 to £9,999 |
0.80 |
0.80 |
0.64 |
|
|
£2,000 to £4,999 |
0.65 |
0.65 |
0.52 |
|
|
|
|
Previous Rate - Direct Easy Access Savings Account |
|
Rates effective from 1st December 2008 |
No notice easy access account
If you are looking for a convenient way to manage your savings via post or telephone and benefit from attractive interest rates, then the Easy Access Account is perfect for you.
Features
- Instant access for withdrawals of £100 or more without notice or penalty
- Attractive interest rates
- Available as a telephone or postal account
- You will need a minimum balance of £250 to keep your account open
- £500,000 maximum cash or cheque
Age restriction:
Restrictions on deposits:
Withdrawals:
- Minimum withdrawal is £100
- Withdrawals will be transferred direct to your bank or building society account via BACS (Bank Automated Clearing System)
- Withdrawals can be arranged by telephoning us with your request or using our Freepost service
Interest:
- Interest rates on this account are variable
- Interest calculated on a daily basis and credited annually to the account at midnight on 1st April
Tax:
- Interest will be paid or credited after deduction of income tax at the appropriate rate
- Non-taxpayers must first complete the appropriate Inland Revenue declaration (R85) to qualify to have interest paid without deduction of tax (Please contact your local Tax Office if you are unsure about your eligibility for tax-free interest)
How do I open a Branch Instant Account?
This account is specifically for personal savers and is not available for business use.
Summary of account:
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Summary Box
Key Product Information for our Direct Easy Access Savings Account |
|
Account name |
Direct Easy Access |
|
Interest rates (AERs) |
Current rates are listed above. Interest rates are variable. |
|
Tax status |
Gross or net of income tax |
|
Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
Easy access |
| Access |
Telephone or post |
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).