Christmas Saver 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 £250 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 it. You can also make regular credits by direct debit.

You must make at least the minimum payment of £1 each month from January 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 £250, during each month.

3 - Withdrawals
You can make any number of withdrawals without giving notice during November and December each year, subject to the limits of the branch or agency you use. 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; otherwise the account will be closed. Details of our current withdrawal limits are displayed in branches, available from our Head Office or click here to view our 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
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 generous bonus (fixed at 1% gross/AER per annum) at the year end (31 October) provided you make at least the minimum payment in each of the 10 months from January 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 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.