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Deferred Interest

Deferred Interest

This account allows you to be in control of your interest payment - by allowing you to take the interest on your savings at a time that suits you - for tax and financial planning purposes. This account is particularly suited if your financial status is about to change, you're planning your retirement or you are moving from different tax jurisdictions. You receive an attractive interest rate plus unlimited charge-free withdrawals after 6 months from day of account opening.


Product Summary:

Account Name:

Deferred Interest

Interest Rates (AERs):

The interest rate payable is variable. Interest is only added to the account on closure. Account must be open for a minimum of 2 years.

Withdrawal Arrangements:

No withdrawals permitted in the first 6 months. Unlimited free withdrawals can be made after this period. Withdrawals can be made by cash, cheque payable to the account holder or electronic transfer.

Access:

Post, Telephone or Fax, in branch or online (if you are registered for this service.)

Interest rates effective 1 July 2009.

  • Minimum Balance
  • Annual Gross p.a./A.E.R*.
  • Monthly
    Gross p.a.
  • Monthly
    A.E.R*.
  • £25,000 and above
  • 2.00%
  • -
  • -

*Typical A.E.R. is 1.98% if the account is closed after the minimum 2 year period. *A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and added once a year, rounded to two decimal places.

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