Christmas Saver (Issue 2) Terms and Conditions

Specific Terms and Conditions for Christmas Saver - Issue 2 Account

1 - Investment Limits

The minimum investment is £1. The maximum investment is £1,000 per month.

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 the deposit.

You must make at least the minimum payment of £1 each month from February each year (or the month of opening for new accounts) up to and including October, in order to qualify for the bonus.

You can make any number of payments, up to an overall total of £1,000, during each month.

3 - Withdrawals

You can make any number of withdrawals without giving notice during November, December and January each year, subject to withdrawal limits. A withdrawal at any other time of year must be to close the account and no bonus will be payable for that year ending 31 October.

A minimum balance of £1 must be maintained; If a withdrawal reduces the balance to less than the minimum balance required you will have 30 days from the date we issue you with a notice to bring the balance up to the minimum. If after the notice period has lapsed the balance remains below the minimum, we may close your account without further notice.

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

Interest is variable and calculated on a daily basis on the balance in the account. Interest will be credited to the account following the close of business on 31 October each year.

You will qualify for a bonus (fixed at 1% AER/Gross per annum) at the year end (31 October) provided you make at least the minimum payment in each of the 9 months from February to October inclusive (or each month up to and including October in the year the account opens) and as long as you meet the withdrawal condition.

5 - Terms and Conditions

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


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