Premium Reward Issue 2 Savings Account
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Premium Reward Issue 2 Savings Account |
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Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5,000 |
£200,000 to £500,000 |
3.25 |
3.25 |
2.60 |
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|
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£25,000 to £49,999 |
3.05 |
3.05 |
2.44 |
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2.40 |
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Rates effective from 1st December 2008
Enhanced interest rates
If you are planning to save for a major purchase and need to benefit from enhanced interest rates then why not take out our Premium Reward Issue 2 Savings Account.
Features
- Enhanced rates of interest
- Make up to three penalty-free withdrawals a year, then 30 days’gross loss of interest for further withdrawals
- £5,000 minimum initial investment
- £100 required to operate the account
- Available from your local branch, agency or via our Direct channel (08457) 252423
- Invest £200,000 up to a maximum of £500,000 and you’ll receive the highest rate
- £500,000 maximum deposit
Age restriction:
Restrictions on deposits:
Withdrawals:
- Minimum withdrawal is £10 via your local branch or agency or £100 if you choose to operate your account direct by phone
- 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
- Maximum 3 withdrawals a year
Interest:
- Interest rates on this account are variable
- Interest calculated on 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 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 Premium Reward Issue 2 Savings 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 Premium Reward Issue 2 |
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Account name |
Premium Reward Issue 2 |
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Interest rates (AERs) |
Current rates are listed above. Rates on this account are variable. |
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Tax status |
Gross or net of income tax |
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Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
Make up to three penalty-free withdrawals a year |
| Access |
Branch, agency, 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).