Regular Saver, Issue 2 - more detail

Opening an account

Regular Saver is simple to open and operate.  When your account is open, all you need to do is make sure you pay money in on a regular basis.

You can choose to make your regular payments by cheque or cash at any of our branches or agencies, or via the internet. Alternatively you might want to set up a standing order or bill payment, for which you will need our banking details. (If payments are to be 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 to be entitled to the bonus rate of interest)

A bonus rate of interest

Interest is paid on the first day of the calendar month in which the account was opened. There are two elements to the interest rate, a variable basic rate and a fixed bonus rate payable if the following conditions are met:

• You save between minimum £10 and maximum £250 cumulatively in each calendar month. Please note if you pay in more than £250 cumulatively in any calendar month you will not receive the bonus on the entire balance in your account. So you must also ensure that your opening balance and the deposit in the first month do not exceed £250 in total
• You save in 11 out of the 12 calendar months starting with the month you open your account (“account year”)
• You make no more than 1 withdrawal in an account year
• You do not exceed a total balance in the account of £20,000. Please note if you do, you will not receive the bonus on the entire balance in your account
• The account is not closed before the end of the account year

Please see summary box for the full conditions for the bonus rate of interest.

Online services

You have the option to manage your account online. For example, you can check your balance, transfer money to another account or view your tax and interest rate details. To take advantage of this facility, you will need to register for online services once you have opened the account. Find out more about what you can do online.

Withdrawing money

You can have one part withdrawal in each account year without affecting your bonus. If you make more than one withdrawal you will not receive your bonus, but you will still receive the basic rate of interest for that account year. An account year starts from the date of opening your account.

Choose from the following:

• Key features
• Interest rates
• Please send me a leaflet
• How to apply

Call us on 0845 1 200 100*

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