| Summary Box - Key Product Information for our
Savings Account(s) |
| Account Name |
Regular Saver Bond Issue 10 |
| Interest Rates (AER) |
Gross*/ AER** |
Net |
| 4.00% p.a. |
3.20% |
| Tax Status |
Tax will be deducted from your interest before it’s
paid to you. If you are not a UK taxpayer and wish to receive your
interest without tax being deducted you will need to provide us
with a completed R85 form. |
| Conditions for bonus payments |
Not applicable. |
| Withdrawal Arrangements |
Withdrawals not permitted. Closure permitted but
you will receive interest calculated at a rate equivalent to the
bottom tier of the instant access account. |
| Access |
In Branch/Post. |
Product features and benefits
|
- A great and easy way to save your money
- Competitive fixed rate of interest on your regular savings
- Invest up to £6,000 over a 12 month period.
|
What does the bond offer?
We will pay your gross* interest of
4.00% after 12 months, providing you don't miss a payment, or make
a monthly payment of under £20 or in excess of £500, or make a
withdrawal following Bond opening.
The Bond can be held in single or joint
names with a maximum of 2 holders per Bond. Interest is calculated
daily and added to the Bond on maturity which will occur on the
first anniversary of the date on which your Bond was opened.
Only one Bond per customer.
Customers who miss a payment or make a monthly payment of under
£20 or in excess of £500, or close the bond prior to maturity, will
receive interest calculated at a rate equivalent to the rate
applying to the bottom tier of the Instant Access Account (refer to
our Savings Rate Guide for rate) or if that account isn't
available, our nearest equivalent account for the full 12 month
period.
On maturity of your Bond, the balance in it will be
transferred to our Instant Access Account and will then be subject
to the Terms & Conditions and the rate appliable to that
Account. We will write to you with details of the Instant Access
Account prior to maturity.
* Gross is the contractual rate of
interest payable before the deduction of income tax at the rate
specified by law.
** AER stands for Annual
Equivalent Rate and illustrates what the interest rate would be if
interest was paid and compounded once each year. As every
advertisement for a savings product which quotes an interest rate
will contain an AER, you will be able to compare more easily what
return you can expect from your savings over time.
# Net is the rate of interest
payable after the deduction of income tax at the rate specified by
law.