Instant Access Account
|Summary Box - Key Product Information|
|Account Name||Instant Access|
|What is the interest rate?||
0.50% Gross* / AER** for balances over £1
Interest is calculated daily and added annually on 31st December at close of business.
Monthly Interest option is available for balances in excess of £5000. The rate is reduced by 0.05%. Monthly Interest is credited on the last working day of the month.
|Can Beverley Building Society change the interest rate?||
Yes, all of our interest rates are variable.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
This figure is for illustation purposes only, and assumes annual interest and no further deposits, withdrawals or interest rate changes.
|How do I open and manage my account?||
Available to UK Residents and UK Tax Residents.
Complete the application form, relevant declaration(s) and provide necessary identification then forward together with the initial deposit (payable to the account holder) to the Society's office.
The minimum opening deposit is £1
This account can be managed via post and branch.
Please contact the Society for more information regarding 3rd party assistance.
|Can I withdraw money?||
Yes, notice and penalty free withdrawals are permitted.
You can normally make a withdrawal on demand of cash up to £500 and any amount by cheque or Faster Payment, subject to adequate cleared balance and written instruction signed by the relevant signatory(ies).Refer to our General Savings Terms and Conditions and the Framework Contract for Payment Services for more information on withdrawals.
|Additional Information||*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income 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.|