Direct Saver - Overview
Save online. It's easy and saves time.
- Easy Access - Your money is there when you need it through Anytime Banking*
- Interest - 1.49% Gross / 1.50% AER (variable) is made up of standard interest 0.96% Gross, 0.96% AER (variable), and bonus interest 0.53% Gross/AER (fixed), is calculated daily and paid monthly.
- Introductory bonus - Earn 0.53% Gross/AER (fixed) each month for 12 months from the date the account is first opened** provided the minimum balance is maintained. Applies to accounts opened from 22 November 2012.
- Withdrawals - the standard rate of interest 0.96% Gross, 0.96% AER (variable), will not be paid in any month^ in which a withdrawal is made.
- Grow your savings - make on-off payments when it suits you or set up a monthly Standing Order.
- Minimum balance - £5,000. A rate of 0.01% gross/AER (variable) applies if the balance falls below £5,000. You can save up to £1 million.
- Availability - exclusively online or over the phone. You cannot apply for or manage this account in branch.
You can open the account online in less than 10 minutes.
Even less if you're registered for Anytime Banking as we'll pre-fill part of the application for you.
You are required to register for Anytime Banking which will allow you to access your funds and manage this account, either online or over the telephone.
*Transfers to an account at other UK banks or building societies, either online or over the phone, are subject to a daily limit of £10,000. If you wish to transfer more than this amount, please contact Anytime Banking on 08457 424 365 to discuss the options available to you. Charges may apply to these options, please see our booklet A guide to personal accounts fees and interest (PDF) for details. We will need to have your telephone number on file for some of these options so please ensure you provide this at account opening.
** Please note that the 12 month period for the introductory bonus begins when the account is first opened which may be earlier than when funds are first lodged to the account.
^ For this purpose a "month" is the period between the first business day the month and the last business day of month. Withdrawals on a non-business day (weekend or bank holiday) are recorded as withdrawals on the subsequent business day. This means that if, for example, you make a withdrawal from your Direct Saver account on Saturday 30 March or Sunday 31 March 2013 this will be recorded as a withdrawal on 1 April 2013, thereby impacting your interest payment in April not March.
Gross is the interest rate paid before the deduction of tax.
Annual equivalent rate (AER) illustrates what the interest rate would be if paid and compounded each year.
