Notice 95 (issue 1)
- Competitive variable rate of currently 4.00% gross/AER variable
- Unlimited withdrawals (subject to 95 days' notice) penalty free
- PLEASE NOTE - This product is NOT an ISA
|
Interest rate % |
Product name |
Min opening balance |
Withdrawal options | Save up to (Max) |
|---|---|---|---|---|
| 4.00% | Notice 95 (issue 1) | £1,000 | 95 days' notice | £250,000 |
Summary box
Account name
Notice 95 (issue 1)
What is the interest rate?
Gross/AER: currently 4.00% variable
If your balance falls below the minimum operating amount the interest rate payable on the remaining balance for that calendar year will be equivalent to the Society's Extra Ordinary Account rate: GROSS/AER: currently 1.45% variable.
AER: Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year
Can Teachers Building Society change the interest rate?
The interest rate for this account is variable, meaning that it can be changed at any time in accordance with sections 6.4, 6.5 and 6.6 of the applicable terms and conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?
The estimated balance after 12 months based on a £1,000 deposit would be £1,040.00. This amount is based on the assumption that all terms and conditions for the account are met.
How do I open and manage my account?
Opening your Account
- The minimum opening balance and minimum operating balance for this account is £1000 with maximum savings of £250,000 (subject to HM Revenue & Customs limits)
- This account can be opened online or by post
Managing your Account
- This account can be operated online, by phone or by post.
- You can register and log in to your account here once opened
Can I withdraw my money?
This account is designed for people who do not need immediate access to their funds, as immediate withdrawals are not permitted.
Will I get charged to operate my account?
The normal day to day operation of your account is free of charge. However there are some additional services that we may charge you for. These are as follows:
• Withdrawals by telegraphic transfer: If you ask us to transfer money to your bank as a same day transfer - £25.00
• Unpaid/returned cheques: If your bank or cheque issuer does not honour your cheque and we reverse the payment from your account - £7.00
Additional information
- Your interest is calculated daily and credited to your account annually (on 31st December)
- Withdrawals and closures may be made with no loss of interest following 95 days’ notice online, by phone or by post. Immediate withdrawals are not permitted
- This product may be withdrawn at any time and without notice
Open your account online
- Application takes minutes
- Minimum opening/operating balance £1,000. Maximum savings £250,000 (subject to HM Revenue & Customs limits)
Terms & conditions
We recommend that you review our savings T's and C's before completing an application form.
FSCS protection for your savings
The Financial Services Compensation Scheme (FSCS) is a free, independent service that protects up to £85,000 of your eligible deposits at Teachers Building Society.