Business Saver Take 2

2.55% Gross PA/AER

If the balance falls below £5,000, the interest payable will be equivalent to the Society’s Company No Notice rate. Interest is calculated daily and paid annually at 31st December into this account or a nominated account as stated on your application form.

Yes, interest rates are variable and we can change them at any time. Any changes will be made in accordance with Section 8 of our General Terms and Conditions which sets out when we can vary the interest rate and how and when we will notify you.

The estimated balance after 12 months based on a deposit of £5,000 would be £5,127.50.

This estimation assumes that:
 - £5,000 is deposited on opening the account.
 - No additional deposits or withdrawals are made.
 - Interest is paid annually and added to the account.

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

• This account can be opened online, in branch or by post.
• The account is only available to UK businesses.
• You can open the account with a minimum investment of £5,000 and you can save up to a maximum of £750,000.
• The initial deposit must be by cheque in the business’s name or by transfer from the business’s nominated bank account stated on the application form.
• The account may not be opened with cash.
• The nominated bank account must be in a UK bank. We do not accept transfers from overseas.
• You can manage your account by post or in branch.

• You can withdraw up to £20,000 per calendar year by making a maximum of two withdrawals without notice or penalty. Once you have withdrawn £20,000 or made two withdrawals, no further withdrawals are permitted until 1st January the following year. A third withdrawal will result in automatic closure of the account.
• You can withdraw by cheque or bank transfer to the company by writing to us and sending in your passbook.
• Cash withdrawals are not permitted on this account.
• We do not permit bank transfers to third parties.
• Cheque withdrawals to third parties may require management approval.
• All withdrawals are subject to our daily limits which are outlined in our General Savings Terms and Conditions.

• Gross rate is the rate of interest payable before the deduction of tax. We will pay interest at the gross rate.
• You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information please contact HMRC.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
• We have no current plans to withdraw this product although it can be withdrawn without notice.