50 Plus Savings Account (Issue 2)
Overview
The 50 Plus Savings Account is available to you if you're aged 50 or over, want to earn an attractive rate of interest and have easy access to your money. You can open it as either a single or joint account.
What is the minimum and maximum investment?
The minimum investment is £5,000. The maximum investment is £1 million. If the account balance falls below £5,000, interest will be calculated at the same rate as the Investment Share Account.
Does the account lose interest if funds are withdrawn?
No, you can access your money anytime, without notice or loss of interest.
Is Interest paid monthly or yearly?
You can choose to receive interest either yearly on 1st January or monthly – you decide. (If interest is paid monthly it must be paid into a separate account). We guarantee that the interest rate will be no lower than 0.25% below Bank Base Rate until 1st January 2011.
Summary
Summary Box Key Product Information for our Savings Accounts |
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| Account Name | 50 Plus Savings Account (Issue 2) |
| Interest rates (AERs) | Variable rate. The interest rate will be no lower than 0.25% below Bank Base Rate until 1st January 2011. Please click here for current rate. |
| Tax Status | Interest is paid net. Gross interest can be paid subject to eligibility and required registration |
| Conditions for bonus payment | No bonus is payable on this account |
| Withdrawal arrangements | Easy access without notice or loss of interest |
| Access | This account can be opened and operated at any of our branches or by post. It can also be operated via the internet. |