Savings

Current Savings Rates from 17th June 2020. All savings accounts are under regular review by the Society to ensure that we remain competitive. We recognise that during these unusual times, it may not have been possible to ensure that your single monthly subscriptions of between £10 and £1000 per month have been made on time. The society is pleased to confirm that all Monthly Savings Account customers will receive the 2020 Conditional Bonus, regardless of the number of monthly subscriptions being deposited during 2020, payable at close of business on 31 December 2020, providing the account remains open at this date. Important note – we currently have some restrictions in place for new customers applying for a savings account. The accounts available for new customers are our: Instant Access Business Online, Business Postal, Monthly Saver, Postal, Junior ISA (JISA) and Young Saver accounts. If you are an existing customer (as of no later than March 2020), these restrictions are not applicable and you can open additional accounts across our range. Please also note that the interest rates on our Cash ISA and 30 Day Notice accounts are due to decrease with effect from 30 September 2020. From that date, the annual rates on our Cash ISA will be 0.30% on balances below £35,000 and 0.40% over £35,000. Our 30 Day Notice account annual interest rate will change to 0.50%.

 For more information please ring the Savings Team on 01482 881510.

Junior Cash ISA Subscription Limit 2020/21 £9,000**** Gross Rate / AER Find out more ►
£1+ 1.75%
Monthly Savings Account Gross Rate / AER Find out more►
£10+ Excluding 0.60% 2020 conditional bonus 0.10%
  Including  0.60% 2020 conditional bonus** 0.70%**
Young Savers Account *Gross Rate / *AER Find out more►
£1 - £25,000*** 1.00%  
Cash ISA | Subscription Limit 2020/21 £20,000**** Gross Rate / AER Find out more►
£35,000+ 0.60%*
£1+ 0.50%*
Postal Account Gross Rate / AER Find out more►
£75,000+ 0.50%*
£1,000+ 0.35%*
30 Day Notice Account Gross Rate / AER Find out more►
£1,000+ 0.70%*  
Postal Business Account  Gross Rate / AER Find out more►
£1,000+ 0.25%  
Business On Line Account Gross Rate / AER Find out more►
£1,000+ 0.25%  
Instant Access Account
Gross Rate / AER
£1+ 0.25%*  
Gross Rate / AER
£5,000+ 0.75%*  

Gross Rate - the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability.

AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

The tax treatment or the rate of interest payable depends on individual circumstances and may be subject to change in the future.

*Monthly Interest is available on balances over £5000 on certain accounts as indicated above at a reduced rate

** Monthly Savings Account Monthly Savings Account includes a 0.60% bonus if all monthly subscriptions are received by December each year and the account remains open at 31 December.

***Young Savers Account Any balance that exceeds £25000 will attract the lowest rate from the Instant Access Account

****Cash ISA/Junior Cash ISA Interest credited or paid annually at close of business on 5 April.

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