Postal Savings Account
|
Postal Savings Account |
|
Min Investment Amount |
Investment Amount
(annual interest) |
Gross (%) |
AER (%) |
Net (%) |
|
£1,000 |
£1,000 to £500,000 |
4.40 |
4.40 |
3.52 |
|
Investment Amount
(monthly interest) |
|
|
|
|
£1,000 |
£1,000 to £500,000 |
|
|
3.45 |
|
|
|
Previous Rates - Postal Savings Accounts |
Rates effective from 1st December 2008
A new postal account
A postal savings account that gives access to your money when you need it.
Features
- £1,000 minimum investment to open and maintain the account
- Subsequent investments £100 or more
- Guarantee that the rate will be at least 0.25% gross above the Bank of England base rate until 30th September 2010
- Access to your account by post only
- No notice required for withdrawals
- Maximum investment £500,000
Age restriction:
Withdrawals:
- Easy access to your account, no notice required for withdrawals
- Minimum withdrawal amount £1,000 and requests for withdrawals can be made by post only
- Withdrawals will be sent by cheque only
Interest:
- Interest rates on this account are variable and either paid annually or monthly
How do I open a Stroud & Swindon Postal account?
Send your completed application and investment cheque to:
Stroud & Swindon Direct
PO Box 148
Stroud
Gloucestershire
GL5 3YL
Summary of account:
|
Summary Box
Key Product Information for our Stroud & Swindon Postal account |
|
Account name |
Stroud & Swindon Postal account |
|
Interest rates (AERs) |
Current rates are listed above. Rates on this account are variable. |
|
Tax status |
Gross or net of income tax |
|
Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
Withdrawal requests can be made by post only without notice |
| Access |
Post only |
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).