Direct Premium Saver Account
|
Direct Premium Saver Account |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5,000 |
£50,000 plus |
4.50 |
4.50 |
3.60 |
|
|
£25,000 to £49,999 |
4.40 |
4.40 |
3.52 |
|
|
£5,000 to £24,999 |
4.20 |
4.20 |
3.36 |
|
|
|
|
|
Rates effective from 1st May 2008
High interest limited access account
Perfect if you are looking for an account that offers high interest rates, the flexibility of up to three withdrawals each calendar year with the convenience of managing your savings as a telephone or postal account.
Features
- Attractive interest rates
- Up to three withdrawals each calendar year
- £5,000 Minimum initial investment required to open and operate the account
- Subsequent investments must total at least £1000
- £500,000 Maximum deposit
- Interest calculated on daily basis
- Interest credited annually to the account at midnight on 1st July
- Operate account as a postal account or telephone account
Age restriction:
Restrictions on deposits:
Withdrawals:
- Minimum withdrawal is £1,000
- 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. Please remember that you are only permitted three withdrawals per calendar year from your account
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) (Please contact your local Tax Office if you are unsure about your eligibility for tax-free interest)
How do I open a Direct Premium Saver Account?
This account is specifically for personal savers and is not available for business use.
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).