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Monthly Regular Saver

The Monthly Regular Saver can be opened in branch or by post.

It's a straightforward way to save through our branch and agency network, allowing access to your money with one withdrawal day each account year, based on the anniversary of the account opening date.

Key features

  • Save up to £500 per month for 2 years
  • Pays a variable** rate of interest
  • Interest paid annually
  • One withdrawal per year based on the anniversary of account opening, plus closure if required
  • Only one account per person
  • Register to view your account online

1.75%

gross† p.a./AER* variable**

Summary Box

Account Name Monthly Regular Saver
What is the interest rate?

Current rates - Effective 02 Sept 2016

This product pays a variable** rate of interest of:

Annual

Gross† p.a. AER*
1.75% 1.75%

Whether you need to pay tax is dependent on your own personal circumstances and so may be subject to change in the future.

† Interest is paid gross i.e. without tax being taken off on all our savings accounts – ISA accounts pay interest tax-free.

* AER stands for the Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

** Variable rate of interest means that the interest rate payable on your account can change and can move both up and down.

 

Payment of interest

  • Interest is calculated daily on cleared balances
  • Interest is paid into the Monthly Regular Saver account, on the anniversary of account opening, so if you opened your account on 14th March, interest would be paid on 13th March the following year.

Can Yorkshire Building Society change the interest rate?

We can make changes to the interest rate on this account for particular reasons. General Terms and Conditions (424 KB) 7 and 8 set out those reasons. Term 11 tells you how we will notify you of the changes.

What would be the estimated balance after 12 months based on a £1,000 deposit?

£500 per month saved at 1.75% gross† p.a./AER* would lead to a balance of £12,220.20 at the end of 24 months.

This is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

Eligibility
You have to be at least 16 years old (for under 11s accounts to be opened in trust) and a UK resident to open the account. This account can be held on your own or jointly with someone else. Accounts can be held in trust.

You can only hold one account in your name, unless you are acting as a trustee .

If you open two or more Monthly Regular Saver accounts, unless as a trustee, these accounts will be transferred to the maturity product.

Account opening and management
Accounts can be opened with a minimum of £10 in the following ways:

  • In a branch or at an agency
  • By calling 0345 1200 200 to request an application pack to be sent to you.

The account can be managed in branch or at an agency or by post.

The maximum balance (excluding interest) is £12,000 at the end of the 2 year term.

Account switching
It is not possible to transfer an existing Yorkshire Building Society account to this product.

Deposits
The maximum deposit is £500 per calendar month. If you deposit more than £500 in any calendar month, whether by cash, cheque or electronic payment, we will return the overpayment to you by cheque i.e. £565 is paid into your account in one calendar month by standing order and cash payment, you will receive a cheque in the post for £65. 

If payments are made by standing order, please ensure your bank sets up your standing order to allow sufficient time for payments to reach your account within each calendar month.

Can I withdraw money?

Withdrawals
The Monthly Regular Saver account allows you to withdraw from your account, without losing any interest, on one day per account year based on the anniversary of the account opening date. Withdrawals are instant and  subject to daily withdrawal limits . If required you can close your account even if you have made a withdrawal in that year.

Please be aware if a withdrawal is made from the account by CHAPS a charge of £23.50 will be incurred. Proof of name ID will be required.

Maturity
On the second anniversary of your account opening, your savings will be transferred to the latest issue of the Triple Access Saver  account and you will have easy access to your funds.

Additional Information

The account is passbook based. You should try and have your passbook updated at least once a year.

 

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How to apply

A Monthly Regular Saver can be opened in one of our branches or agencies or by post. Once your account is open, you can register to view your transactions or you can manage your account in any of our branches or agencies.

When you apply for an account with us, we’ll need to verify your identity and address .

Book an appointment

To visit us in branch or request a phone call, enter a town, city or postcode and select a branch of your choice.


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Call us

Speak to one of our friendly advisers and we will send you an application pack in the post.

8am - 8pm: Mon to Fri

9am - 1pm: Sat

0345 1200 100*

By post

We will send you what you need in the post to get you started.

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Not ready to apply yet?

Save for later

If you would like to look at this page again later, enter your email address and we will email you a link to this page.

Book a savings review

To ensure that you have the right account for whatever you're saving for, why not visit us in branch for a savings review? Book an appointment at one of our branches.


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