Savings
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Savings & Investments
Capital 7
Capital 7 is a convenient seven day notice account which gives you the option of having interest paid annually or monthly, with higher interest rates for larger balances.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Capital 7 |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals or transfers require seven days written notice and are subject to the minimum investment of £1 being maintained. If a withdrawal or transfer is required on less notice, then there will be seven days loss of interest on the amount withdrawn or transferred. There is no limit to the number of withdrawals allowed. If the account falls below £1 at any time, the account will be closed. |
| Access | Account can be opened and operated through any of our branches, or by post. |
How much interest will I earn?
| Investment | Annual Interest % Gross§ p.a./AER† (Variable) |
|
|---|---|---|
| £150,000+ | 1.30 | |
| £100,000+ | 0.90 | |
| £50,000+ | 0.50 | |
| £25,000+ | 0.40 | |
| £2,500+ | 0.20 | |
| £1+ | 0.15 | |
| Investment | Monthly Interest (Variable) | |
| % Gross§ | % AER† | |
| £150,000+ | 1.15 | 1.16 |
| £100,000+ | 0.75 | 0.75 |
| £50,000+ | 0.35 | 0.35 |
| £25,000+ | 0.25 | 0.25 |
| £2,500+ | 0.10 | 0.10 |
| £1+ | 0.05 | 0.05 |
Rates correct as at 13 August 2010.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment is £1 and the maximum investment is £1,000,000 (£2,000,000 for joint accounts).
When is interest paid?
Interest is paid annually on 30 April or monthly on the last working day of the month.
How is interest paid?
Annual interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society. Monthly interest must be transferred either to another building society/bank account or to another account held with the Society.
