Tie your savings up for a higher return
Interest is paid monthly on the last working day of the month and can be added to your 120 Day Account or paid to your bank account. Once added to the account, interest becomes subject to the same withdrawal conditions as the capital.
If the balance on the account falls below the minimum of £5,000, the lowest rate on our easy access account, at that time, will apply until the minimum balance is reached again.
*Interest is paid without tax deducted. Some savers will be required to pay tax on savings interest; this should be arranged directly with HMRC through your tax return.
**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
This projection is for illustrative purposes only.
If £5,000 was deposited on 1 July 2019, assuming no further deposits or withdrawals are made and the interest earned is added to the account, on 30 June 2020 the account balance would be £5,080.59.
You can open and manage this account online or in branch.
You must fund the account within seven days of opening.
You must be a permanent UK resident and aged 18 or over.
For under 18s the account must be opened by an adult in the capacity of Trustee, and can only be opened and managed in branch or by post.
You can pay into your account by electronic payment, or by cash or cheque.
The minimum balance is £5,000 and the maximum balance is £500,000 per person (£1m joint).
Customers may hold more than one of these accounts, but the maximum holding across all accounts with the Society is £500,000 per person.
This product may be withdrawn from sale at any time without notice.
We reserve the right to close your account and return the funds to you.
We reserve the right to prohibit any further deposits into the product.