Saver Plus Terms and Conditions

Specific Terms and Conditions for Saver Plus - Issue 2 Account

1 - Investment Limits
The minimum investment is £20 per month. The maximum investment is £1,000 per month.

2 - Further Investment
Monthly payments are made automatically by direct debit on a day of your choice up to the 24th of each month. Simply choose a fixed amount to save between £20 and £1,000. You can change your monthly subscription at any time by giving us written notice of the new amount. It is not possible to make any payments in addition to your regular monthly amount. More than three missed monthly payments in each year (ending 31 March) will result in closure of the account. If you miss any payments you will forfeit the bonus.

3 - Withdrawals
You can withdraw from your account without giving notice, subject to the limits of the branch or agency you use. However, if you make more than one withdrawal during the year (ending 31 March), you will forfeit the bonus. Up to three withdrawals are allowed during a year; more than three withdrawals will result in closure of the account. 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 can be credited to the account or paid annually into a bank account (or other suitable Society account) following the close of business on 31 March each year.

You will qualify for a generous bonus (fixed at 1% gross/AER per annum) at the year end (31 March) provided your account remains open, you have made all the monthly payments and have made no more than one withdrawal. Once interest and bonus have been added to the account they form part of the balance and are subject to 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