Home – Personal Savings – Regular Saver Follow on 30 Day Notice Account

Regular Saver Follow on 30 Day Notice Account

This account is suitable for you if you have a maturing Regular Saver 30 Day Notice account, and you are able to give us 30 days’ notice of withdrawing your funds.

This account is not suitable for you if you will need to withdraw your money without providing 30 days’ notice, or if you have no other savings to cover unexpected costs. The account is also unsuitable if you are looking for an account that you can add money to regularly, as you cannot add to the account after your initial deposit.

Rate

4.25% Gross /AER

Postcode Restricted

Access

Yes Subject to 30 days' notice

Interest

Annually

Minimum Investment

£1

About this account

What is the interest rate?

The interest rate tracks at 0.75% below the Bank of England Base Rate. Any changes in interest will take effect within one month of any movement in the Bank of England Base Rate. (You will find the current Bank of England Base Rate displayed on the website bankofengland.co.uk).

	Annual Interest
Minimum Balance	Gross*	AER**
£1	4.25%	4.25%

Interest will be paid to the account on 1 December each year.

Can Hinckley & Rugby Building Society change the interest rate?

We will change the interest rate we pay on the account in line with changes to the Bank of England Base Rate.

The rate at which we track the Bank of England Base Rate will be reviewed twice annually, with any changes applied 1 April and 1 November. The interest rate will never reduce below 0.01%.

What would the estimated balance be after 12 months?

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,042.50.

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

How do I open and manage my account?

This account can only be opened with maturing funds from the Regular Saver 30 Day Notice account and must be opened
within one month of the maturity date. You can only hold one of these accounts and it must be held in the same name as the maturing account.

This account can be opened and managed by post or at any of our branches and agencies. Complete the application form and the declarations and consents. Take the completed documents to one of our branches or agencies, or post them to us at the following address: Hinckley & Rugby Building Society, 24 -28 Upper Bond Street, Hinckley, Leicestershire, LE10 1NZ.

The minimum deposit required to open and maintain this account is £1. The opening deposit must be made by transfer from your maturing Regular Saver account.

Further Deposits

Only matured funds from your Regular Saver 30 Day Notice account can be deposited into this account on opening. No further deposits can be made after your account has been opened.

Can I withdraw money?

Offers access to your savings, subject to a 30-day notice period. You are required to give 30 days’ notice in writing by telephone or at a branch or agency.

Withdrawals must be made within 14 days of the notice period becoming effective. Instant withdraws outside of the notice period will not be allowed.

The total amount on notice (including all pending notice) must not be more than the balance of the account.

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.

Additional information

Personal Savings Allowance is the amount of interest you can earn before paying tax on it. If you are a basic taxpayer, you can earn up to £1,000.00 interest without paying tax. If you are a higher rate taxpayer, you can earn up to £500.00 interest without paying tax.

If you are a additional rate taxpayer, you cannot earn any interest without paying tax. 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.

Identification Requirements

We need to confirm the identity of every customer who applies for an account with the Society. We do this to protect you against the risk of identity fraud and to comply with money laundering regulations.

We use an electronic verification system when you open a savings account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example if you are not listed on the electoral roll or you have recently moved house).

If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.

If you think you will need to provide identification, please visit hrbs.co.uk/proving-your-identity/ for details of acceptable documentation or contact us to discuss.

IF YOU ARE UNDER 18

We will need to see either your birth certificate or passport, and a document confirming your address. This could be a bank statement or utility bill and can be in the name of a parent or guardian living at the same address if not available in your name. These documents need to be originals, not photocopies, and they will be returned to you as quickly as possible.