Tracker Easy Access

This product tracks the Bank of England Base Rate. We will review the rate we pay on this account twice annually, on the 1 April and the 1 November. However, we may change interest rates at anytime if we reasonably believe that the change is needed, for any reasons outlined in the Savings Terms and Conditions booklet, Condition 7.

This account is not available to be opened.

The account can be managed by post or at any of our branches and agencies.

The minimum balance to maintain this account is £1 and the maximum deposit is £300,000. Please make cheques payable to the account holder(s).

The overall maximum holding by any one member in respect of all savings accounts with the Society is £300,000.

Withdrawals can be made 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.

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.