Stroud & Swindon 50 Plus Loyalty Account
Stroud & Swindon 50 Plus Loyalty Account* |
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Investment Amount
(annual interest) |
Gross (%) |
AER (%) |
Net (%) |
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With Bonus |
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3.25 |
3.25 |
2.60 |
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Without Bonus |
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2.05 |
2.05 |
1.64 |
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Min Investment Amount |
Investment Amount
(monthly interest) |
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£1,000 plus |
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With Bonus |
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3.20 |
3.25 |
2.56 |
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Without Bonus |
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2.03 |
2.05 |
1.62 |
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Previous Rates - Stroud & Swindon 50 Plus Loyalty Account |
| Rates effective from 1st October 2009 |
| *You must be an existing Stroud & Swindon Building Society savings customer to be eligible to open this account. |
Investment
- You must be at least 50 years old and an existing Society savings customer to be eligible to open this account
- On account opening choose to operate your account by Branch or Agency, or by telephone and post. Customers who open their account(s) in Branch and Agency will be issued with a passbook.
- £1,000 minimum investment for monthly and annual interest.
- The investment must be new funds to the Society.
- The maximum investment is £500,000.
- Minimum additional deposit £10 for branches and agencies, £100 for telephone/post.
- Cash and coins not accepted by post.
Age restriction:
- Available to existing Society savings customers aged 50 and over
Restrictions on deposits:
Withdrawals:
- 90 days notice or interest charge for any withdrawals.
- Minimum withdrawal amount is £10 for Branches and Agencies, £100 for telephone/post.
- A withdrawal can be arranged by visiting your local Branch or Agency or, if you choose to operate your account by post and telephone, by writing to us.
- Any cheques deposited must be cleared before a withdrawal can be made on them.
- Should the balance be reduced to less than £1,000 then the Society reserves the right either to close the acount and return the funds or to pay an interest rate equivalent to the lowest tier on our Classic Gold account.
Interest:
- Interest rates on this account are variable and interest is calculated on a daily basis.
- Credited annually to the account on 1st April or paid monthly at midnight on the first day of each month commencing 1st of the month after you open the account.
- Monthly interest can be transferred to another account that you may have with us, paid directly into your bank or building society account or credited to your account, provided that your balance does not fall below £1,000.
- Bonus rate applies until 31st March 2011. Please see full terms and conditions for more details.
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).
Additional Information:
How do I open a Stroud & Swindon 50 Plus Loyalty Account?
Summary of account:
This account is specifically for personal savers and is not available for business use.
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Summary Box
Key Product Information for our Stroud & Swindon 50 Plus Loyalty Account |
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Account name |
Stroud & Swindon 50 Plus Loyalty Account |
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Interest rates (AERs) |
Current rates are listed above |
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Tax status |
Gross or net of income tax |
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Conditions for bonus payment |
Not applicable |
| Withdrawal arrangements |
90 Days notice or immediate access with 90 days loss of gross interest |
| Access |
Branch, agency, telephone and 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).