|Interest rate without bonus (where one or more conditions are not met***)
|3.75% Gross* /AER**
|Interest rate with bonus (includes a bonus of 0.50% where all conditions are met***)
|4.25% Gross* / AER**
Interest is calculated daily and added annually on 31st December at close of business.
***Every subscription must be received during the relevant calendar month and the account must remain open at 31st December in order to receive the bonus payment.
This figure is for illustration purposes and assumes a further 10 payments of £1,000 with the last payment missed, no withdrawals and no interest rate changes.
|3.75% Gross* / AER**
This figure is for illustration purposes and assumes a further 11 payments of £1,000 and therefore includes the bonus rate, no withdrawals and no interest rate changes.
|4.25% Gross* / AER**
This account can be opened if:
You are resident and tax resident in the UK.
You pay in at least £10.
The maximum you can open the account with in January is £10,000. The maximum you can open the account from February to December is £2,000.
One account per member.
How to open the account
Fill out and sign the application form which can be obtained in branch, on our website or by calling us.
Provide identification (examples in our “Verifying your Identity” list)
Send us at least £10 by bank transfer, cheque payable to yourself or cash.
Managing your account
Each month the account must receive one payment of £10-£2,000 to be eligible for the Conditional Bonus. For the month of January only, the maximum subscription allowance is £10,000.
This account can be managed in branch or by post.
Please contact us if you need assistance from us or someone else.
Yes, one notice and penalty free withdrawal per calendar year (1st January to 31st December) is permitted. All other withdrawals are subject to a penalty of 30 days loss of interest on the amount withdrawn.
All interest penalties are deducted from accrued interest on the account. Should there be insufficient accrued interest to deal with the above (i.e. at the beginning of each year) the penalty will be deducted from the capital balance.
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).
*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.
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