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Plain Sailing Easy Access

Plain Sailing header 1:17

When you’re looking for an everyday account for paying in regular amounts and making regular withdrawals, this is a practical, convenient choice. With easy access at any of our branches and agencies, you can withdraw your money as often as you want by cash (maximum £500 per day) or cheque to suit you. What’s more, you can open a Plain Sailing account with just £25.

You can enjoy a regular, monthly income from your savings if you have a balance of over £5,000. We can pay this direct into your bank account.

Please note that this account is only available to investors living within the following postcode areas: LE, CV, NN, PE, NG, DE, B, ST, WV, DY, WR, WS, OX15, OX16, OX17, LN4, LN5, LN6.

The identification requirements for this account can be found in the account brochure. To receive the account brochure please use the ‘Enquire now’ link and we will send one to you in the post, or please visit one of our branches.

With effect from 5 August 2022

Summary box
Key product information for this account. For your own benefit and protection, you should carefully read the Savings Account Terms and Conditions booklet.
Account Name
 Plain Sailing Easy Access
What is the interest rate?
 

This account offers a variable rate of interest,  as follows:

 
Min InvestmentAnnualMonthly
Gross AER Gross AER
£5,0000.30%0.30%0.30%0.30%
£250.30%0.30%--

Annual interest will be paid to the account on 1 December each year.  On sums of £5,000 or more interest can be paid monthly.

Can Hinckley & Rugby Building Society change the interest rate?
 

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Conditions 7.5 and 7.6.

What would the estimated balance be after 12 months?
 

Depending on the initial amount deposited, assuming that no further deposits or withdrawals are made, there is no change in interest rate and interest is added annually, after a 12 month period the estimated balance would be:

£5,000                        £5,015.00

£1,000                        £1,003.00

These figures are provided for illustrative purposes only and do not take into account your individual circumstances.

How do I open and manage my account?
 

Available to customers living in the Society’s core area of operation with an address in B, CV, DE, DY, LE, LN4, LN5, LN6, NG, NN, OX15, OX16, OX17, PE, ST, WS, WR or WV postcode areas.

Complete an application form and the declarations and consents and take it to one of our branches or agencies, or post it to us at the address on the rear cover, with your investment. Please make cheques payable to the account holder(s).

The minimum deposit required to open and maintain this account is £25 (£5,000 for monthly interest) and the maximum deposit is £300,000. The overall maximum holding by any one member in respect of all savings accounts with the Society is £300,000.

You can open and manage your account at any of our branches or by post.

Can I withdraw money?
 

Withdrawals can be made at any time without notice or penalty.  The cash withdrawal limit is £500 per day.  Cheque withdrawals can be made for any amount if you have sufficient cleared funds in your account.

Money can be paid out against a cheque from the start of the sixth business day following the day of deposit.  Business day means a day other than a Saturday, Sunday or Bank Holiday.  Funds are available for immediate withdrawal for all other types of deposit.

Additional information
 

If you are a basic taxpayer you have a £1,000 Personal Savings Allowance (£500 if you are a higher rate taxpayer). This means most people no longer pay tax on their savings income. If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.

* Gross rate – the annual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.

** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year (or monthly as the case may be).

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 Plain Sailing 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.

Enquire about a Plain Sailing Account

Thank you for showing an interest in our Plain Sailing account.

If you wish to apply for this account, please visit your local branch. For help finding your nearest branch please use our branches map.

If you would like us to post you a brochure and application form please use the enquire button below and complete your details.

Please note that this account is only available to investors living within the following postcode areas: LE, CV, NN, PE, NG, DE, B, ST, WV, DY, WR, WS, OX15, OX16, OX17, LN4, LN5, LN6.

Enquire about the Plain Sailing Easy Access account


Important Information about all of our products

Savings type

This product belongs to the following type of savings:
Easy Access Accounts