Premium Reward Savings Account (previous rates)
|
Premium Reward Savings Account |
|
Min Investment Amount |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
|
£5,000 |
|
|
|
|
|
|
£50,000 to £199,999 |
5.45 |
5.45 |
4.36 |
|
|
|
|
|
4.28 |
|
£5,000 to £24,999 |
5.25 |
5.25 |
4.20 |
|
|
|
|
|
Rates effective from 1st March 2008 to 30th April 2008
Enhanced interest rates
If you are planning to save for a major purchase, need to benefit from enhanced interest rates, the flexibility of an instant access ** account then why not with our Premium Reward Savings Account.
Features
- Enhanced rates of interest
- Make up to three instant access ** penalty-free withdrawals a year
- Three penalty-free instant access withdrawals a year, then 30 days’
loss of interest for further withdrawals
- £5,000 Minimum initial investment
- £100 required to operate the account
- Available from your local branch
- Invest £25,000 up to a maximum of £500,000
and you’ll receive the highest rate
- £500,000 maximum deposit
- Interest calculated on daily basis and credited annually to the account at midnight on 1st April
Age restriction:
Restrictions on deposits:
Withdrawals:
- Minimum withdrawal is £10
- Withdrawals will be transferred direct to your bank or building society account via BACS (Bank Automated Clearing System)
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 Premium Reward Savings Account?
This account is specifically for personal savers and is not available for business use.
** Three penalty-free instant access withdrawals a year, then 30 days’ loss of interest for further withdrawals.
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).