It might suit you if you are happy to wait for a specified amount of time to access your cash, in return for a higher rate of interest. It specifies exactly how long that period of time would be. A monthly interest option may be available for income purposes.
The Society is required by the Financial Conduct Authority to provide you with certain key information about this account in the form of a Summary Box. You should read this to enable you to make an informed decision and compare our product with those of other providers. Below, you have the option to download and print or save the full summary box, view elements of it one-by-one, or expand the accordion further down this page and view the full product details in one go.
Variable / 4.25% Gross*/ 4.25% AER** - Annually Variable / 4.20% Gross*/ 4.28% AER** - Monthly
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*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in 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.
45 Day Notice.
Balances under £5,000 will attract the lowest rate from the Instant Access Account.
4.25% Gross* / AER**for balances over £5,000.
Interest is calculated daily and added annually on 31st December at close of business.
4.20% Gross* / 4.28% AER**
Monthly Interest is calculated daily and is credited on the last working day of the month. Monthly Interest can either be paid back into the account or paid away to a different nominated account.
These figures are for illustration purposes only, and assume no further deposits, withdrawals or interest rate changes.
The Annual Interest figure assumes that interest is paid back into the account.
*** The total amount of Monthly Interest paid in 12 instalments over 12 months would be £210.00. The monthly interest figure assumes a balance of £5,000 which is necessary to be eligible for monthly interest, and also that the interest payments are paid to a nominated account other than the 45 Day Notice 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 £5,000. This account can be managed via post and branch.
Please contact the Society for more information regarding Third Party Assistance.
You can withdraw money or close the account by giving a 45 calendar day notice period.
You cannot make an immediate withdrawal.
There is a 7 calendar day window during which you can withdraw your funds. This window starts on the first day of the notice periods expiry. If your request falls on a non business day then it will begin on the next business day.
You can only have one notice period running at any one time.
The account can be closed without notice in the event of a death being registered with the society for any party to the account.
Refer to our General Savings Terms & Conditions for more information on withdrawals.
*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in 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.
Income Tax – Tax treatment depends on the individual circumstances of each customer and may be subject to change in the future by HM Revenue & Customs.
The Society is required to supply HM Revenue & Customs with particulars of certain interest paid or credited to savers.
Please contact the Society for details of current taxation arrangements or direct enquiries to www.gov.uk/apply-tax-free-interest-on-savings/
To apply, please complete the application form below and either call in to our branch or send the completed form with your opening deposit to the Beverley Building Society at 57 Market Place, Beverley, East Yorkshire, HU17 8AA