Notice Account

The interest rate is a bank managed rate of 0.25%

Interest accrues on the daily balance at the rate notified to you from time to time.

Your balance Annual interest:

Balance     Gross     AER

£1+            0.25%    0.25%

Interest is added to or deducted from the account on the 31st December each year.

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Yes.

As this account pays a variable rate of interest it can change over time. We will always let you know of any planned changes to the rate. Our account conditions explain when and how we do this. For example, we might review the interest rate if the Bank of England base rate changes.

If you deposit £1,000.00 when you open the account, the balance after 12 months will be £1,002.50.

This assumes:

• You don’t withdraw any money and interest is paid into this account.
• The interest rate stays the same.
• You don’t add any more money.

Opening:

You must open the account with at least £1.  

No account can be opened until a correctly completed, signed and dated application form is received in the post together with our other standard account opening forms and our performing all preliminary identification and other checks to our satisfaction. We will also require a completed singed mandate form.

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Managing:

Deposits can be added at any time, by post, standing order or your own internet banking.  

Information can be requested on the telephone, but all transactions should be sent to us in the post.  

As with all accounts for organisations, there are some rules:

• All instructions should be authorised by the correct number of signatures in accordance with the latest mandate.
• If you change your mind, you can advise us in writing and we will cancel the account free of charge within 14 days of opening.

Yes.

You can make withdrawals from this account by giving 32 days notice and there is no charges for doing so.

You should instruct us in writing about any changes and / or to request a withdrawal.

All withdrawals must be made to an account in the same name. We will not permit a withdrawal to a third party by any method.

No charges or penalties (except those referred to in out terms and conditions where we permit early withdrawal at our discretion and any charges on transfer before maturity or notice period served) apply to these accounts.