|Summary Box - Key Product Information|
|What is the interest rate?||
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 each month.
Balances under £1,000 will attract the lowest rate from the Instant Access Account.
|Can Beverley Building Society change the interest rate?||
Yes, all of our rates are variable.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
|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 £1000.
This account can be managed via the post. Transactions at the counter are not permitted.
Please contact the Society for more information regarding 3rd party assistance.
|Can I withdraw money?||
Yes, notice and penalty free withdrawals are permitted and must be made payable to the account holder for a minimum of £500.
You can normally make a withdrawal on demand by cheque or Faster Payment, subject to adequate cleared balance and written instruction signed by the relevant signatory(ies).
|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|