Premium Saver Easy Access

Leopards don't change their spots and you wouldn't want Hinckley and Rugby to change from being a safe and trusted home for your savings.

You probably also want some flexibility, earning a good rate of interest on your savings but with the ability to access your money. Well, we think we've spotted a gap in the market.

Our Premium Saver Account aims to reward you if you need only limited access to your money, offering a better rate of interest than many accounts in return for your agreement to make just one withdrawal per calendar month.

The minimum investment is £2,500 and the maximum investment is £300,000.

SUMMARY BOX	KEY PRODUCT INFORMATION FOR THIS SAVINGS ACCOUNT

Account Name	Premium Saver Easy Access Account.
Interest Rate (AER)	The interest rate is variable. Please see below for the current rate applicable.
Tax Status	Normally, interest will be paid after deduction of income tax at the appropriate rate. Non-tax payers can reclaim this and are able to register for gross interest payments using HM Revenue & Customs Form R85, which is available from our offices. Higher rate tax payers may have a further tax liability. Interest on joint accounts will be paid gross if both holders are non-tax payers and sign separate R85s. If one account holder pays tax and the other does not, half of the interest will be paid gross and the other half will be paid after deduction of income tax at the appropriate rate.
Conditions for bonus payment	Not applicable to this savings account.
Withdrawal arrangements	Only one penalty free easy access withdrawal is available per calendar month. Should you need further access to your funds, additional withdrawals can be made subject to 30 days' loss of interest on the amount withdrawn. The minimum withdrawal is £250 by cash or cheque and the maximum cash withdrawal limit is £300 per day. Subject to the conditions set out above, money can be paid out against a cheque from the start of the sixth working day following the day of deposit. Working day means a day other than a Saturday, Sunday or Bank Holiday. Funds are available for immediate withdrawal for all other types of deposit.
Access	Transactions at branches or by post.

Payment of Interest

Interest is calculated on a daily basis up to and including the day before any withdrawal. For cheque receipts, interest is paid from the day after the cheque is deposited with us. For cash and automated credits, interest is paid from the day of receipt.

Each year on 1 December the interest earned will be credited to your Premium Saver Easy Access Account.

Alternatively it can be paid to a bank or building society account or transferred to another account with the Society.

On sums of £5,000 or more interest can be paid at the end of each month. If you open an account after the 25th day you will receive interest for that month with the interest for the following month.

Premium Saver Easy Access Account

With effect from 12 July 2010

Minimum Investment	Gross*	Net**	AER***
£2,500	1.50%p.a.	1.20%p.a.	1.50%
With monthly income
£5,000	1.49%	1.19%	1.50%

Please click here to enquire about this account

* Gross Rate - the contractual rate of interest payable before the deduction of Income Tax at the rate specified by law.

** Net - the rate of interest which would be payable after allowing for the deduction of Income Tax of 20%.

*** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year (or monthly, or half-yearly, as the case may be).

Important information about all our accounts