Bonus 60 Terms and Conditions

Specific Terms & Conditions for Bonus 60 Account

1 – Investment Limits

The minimum investment is £1,000. The maximum investment is £500,000.

2 - Further Investment
You may add to your savings at any time, just call into your local branch or agency with your passbook and deposit. If it is more convenient you can post it or save through a standing order from your bank account. You can also make regular credits by direct debit.

3 - Withdrawals

3.1. First 12 months from account opening

All withdrawals are subject to either 60 days written notice without loss of interest, or on demand subject to 60 days loss of interest on the amount withdrawn.

You may make an unlimited number of withdrawals within the first 12 months from the opening of the account without loss of the unconditional bonus.

3.2. Month 13 onwards from account opening

All withdrawals are subject to either 60 days written notice without loss of interest, or on demand subject to 60 days loss of interest on the amount withdrawn

From month 13 onwards from the date on which your account was opened, two withdrawals are permitted during the year (ending 31 March) without loss of bonus. However, if you make more than two withdrawals during the year or period (ending 31 March), you will lose the bonus.

Please note that if the interest and bonus have been added to the account and you subsequently withdraw them, this will be classed as a normal withdrawal.

3.3. General Withdrawal Information

You can close your account on demand with 60 days loss of interest, or by giving 60 days written notice without loss of interest, but you will lose the bonus.

Withdrawals of up to £350 in cash per day and larger amounts by cheque may be made from any of our branches or agents on demand, subject to withdrawal limits.

You can also make withdrawals by electronic transfer using the 'My Accounts' system. Online withdrawals using the 'My Accounts' system are subject to further terms and conditions.

4 - Interest and Bonus
The interest rate is variable and calculated on a daily basis. Bonus rates are fixed and calculated on a daily basis.

4.1. First 12 months from account opening

 Interest can be credited to your account or paid annually into a bank account (or suitable Society account) following the close of business on the 31 March. Towards the end of the first 12 months of your account being opened, we will write to you detailing your bonus information. At the end of the first 12 months you will receive an unconditional bonus of 1.00% AER/Gross in addition to the variable interest rate, and this will be paid to you on the first anniversary of the date of opening (i.e. 12 months from account opening).

4.2. Month 13 onwards from account opening

 From month 13 onwards from the date on which your account was opened, if you make no more than two withdrawals during the year or period (ending 31 March), an annual bonus of 0.75% AER/Gross will be paid in addition to the variable interest rate. If you make more than two withdrawals during the year or period (ending 31 March), no bonus will be paid.

Interest, including any bonus earned, will be credited to your account or paid annually into a bank account (or suitable Society account) following the close of business on the 31 March each year. Please note that if the interest and bonus have been added to the account and you subsequently withdraw them, this will be classed as a normal withdrawal.

5 -Terms and Conditions
These Specific Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the Specific Terms and Conditions, the Specific Terms and Conditions will apply.