Home Savings at The Loughborough Which savings account is right for me? Everyday Accounts

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Everyday Accounts

At The Loughborough we have a savings account that will suit you.   For the over 50's why not try our Fifty Fifty account.  Or take a look at our Instant Access account for those everyday needs or a Postal Account for those who don't live close to a branch

... that'll be The Loughborough.

Instant Access Account

Summary Box - Key Product Information for our Savings Accounts

Account Name

Instant Access Account 

Interest Rates (AERs)

• See a full list of our current interest rates

• Interest is variable and is added to the account annually on 31 March.

Tax Status

• Interest on your account will be paid 'net' (after taking off tax at the basic rate) unless you are entitled to receive it 'gross', and you complete and let us have HM Revenue and Customs Form R85. Even if interest is paid net, you may be liable to pay additional tax depending on your income. For further details, please see the booklet 'Taxation of Building Society Interest', a copy of which is available on request.
• A tax statement may be requested each year free of charge. A charge will be made if a duplicate statement is requested.

Conditions for bonus payment

• N/A

Withdrawal arrangements

• Instant access, subject to Society limits.

Access

• Branch / Post.  Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.

• Minimum Opening Balance: £10.
• Maximum: No maximum, subject to overall Society limit of £750,000.
• The interest rate is tiered, so the more you save the better rate you earn.

Fifty Fifty Account

Summary Box - Key Product Information for our Savings Accounts

Account Name

Fifty Fifty Account

Interest Rates (AERs)

- See a  full list of our current interest rates
- Interest is variable and is paid on the 31st March each year.
- Monthly interest must be paid and cannot be credited to the account.
- Monthly and annual interest can be paid to a bank or transferred to another account with the Society.

Tax Status

- Interest on your account will be paid ‘net’ (after taking off tax at the basic rate) unless you are entitled to receive it ‘gross’, and you complete and let us have HM Revenue and Customs Form R85.
- Even if interest is paid net, you may be liable to pay additional tax depending on your income. For further details, please see the booklet “Taxation of Building Society Interest”, a copy of which is available on request.
- A tax certificate may be requested each year free of charge.
- A charge will be made if a duplicate certificate is requested.

Conditions for bonus payment

N/A

Withdrawal arrangements

- No notice is required for withdrawals if the balance of the account remains £25,000 or more.
- Where the balance of the account will fall below £25,000 withdrawals are subject to 50 days notice or 50 days loss of interest on the amount withdrawn

Access

- Branch and Post.  Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.

o Minimum Opening Balance: £50 for annual interest, £10,000 for monthly interest.
o Maximum: £500,000 per account subject to an overall Society limit of £750,000.
o Available to sole or joint investors aged 50 and over.
o Customers requiring interest to be paid to another account with the Society or to their bank account must specify where the interest is to be paid and provide full details.
o If the balance of a monthly interest account falls below the minimum £10,000 it will be transferred to annual interest.
o If the balance of the account falls below the minimum £50 interest will be paid at the rate applicable to the Society’s Instant Access account.


Loughborough Postal Account

Summary Box - Key Product Information for our Savings Accounts

Account Name

Loughborough Postal Account

Interest Rates (AERs)

• See a full list of our current interest rates

• Interest is variable and is paid annually on 31 March.
• Monthly and annual interest can be paid to a bank or transferred to another account with the Society.
• If minimum account balance is not maintained, rate reverts to prevailing Instant Access Account rate.

Tax Status

• Interest on your account will be paid ‘net’ (after taking off tax at the basic rate) unless you are entitled to receive it ‘gross’, and you complete and let us have HM Revenue and Customs Form R85. Even if interest is paid net, you may be liable to pay additional tax depending on your income. For further details, please see the booklet “Taxation of Building Society Interest”, a copy of which is available on request.
• A tax certificate may be requested each year free of charge. A charge will be made if a duplicate certificate is requested.

Conditions for bonus payment

• N/A

Withdrawal arrangements

• Minimum £100 normally paid by cheque by return of post.
• CHAPS facility available subject to charge.

Access

• Post.  Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.

• Minimum Opening Balance: £100 for annual interest, £1,000 for monthly interest.
• Maximum: £250,000 subject to the maximum holding with the Society.
• Deposits must be made by post to Head Office or by bank transfer - no minimum amount, but cash transactions are not accepted.
• A full statement is provided each April. Transaction statements are provided after each postal transaction.
• The interest rate is tiered, so the more you save the better rate you earn.

30 Day Notice Account

Summary Box - Key Product Information for our Savings Accounts

Account Name

30 Day Notice Account

Interest Rates (AERs)

• See our full list of our current interest rates

• Interest is variable and is paid annually on 31 March.
• Monthly and annual interest can be paid to a bank or transferred to another account with the Society.

Tax Status

• Interest on your account will be paid ‘net’ (after taking off tax at the basic rate) unless you are entitled to receive it ‘gross’, and you complete and let us have HM Revenue and Customs Form R85. Even if interest is paid net, you may be liable to pay additional tax depending on your income. For further details, please see the booklet “Taxation of Building Society Interest”, a copy of which is available on request.
• A tax certificate may be requested each year free of charge. A charge will be made if a duplicate certificate is requested.

Conditions for bonus payment

• N/A

Withdrawal arrangements

• While balance remains over £10,000, you may make withdrawals without notice or penalty at any time subject to Society withdrawal limits.
• Where the balance of the account will fall under £10,000, you must give 30 days notice of withdrawal or lose 30 days interest on the amount withdrawn.

Access

• Branch / Post.   Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.

 

• Minimum Opening Balance: £10 for annual interest, £10,000 for monthly interest.
• Maximum: No maximum, subject to overall Society limit of £750,000.
• The interest rate is tiered, so the more you save the better rate you earn

Affinity Account

Summary Box - Key Product Information for our Savings Accounts

Account Name

Affinity Account

Interest Rates (AERs)

• See our full list of our current interest rates,

• Interest is variable and added annually on 31st March.

Tax Status

• Interest on your account will be paid ‘net’ (after taking off tax at the basic rate) unless you are entitled to receive it ‘gross’, and you complete and let us have HM Revenue and Customs Form R85. Even if interest is paid net, you may be liable to pay additional tax depending on your income. For further details, please see the booklet “Taxation of Building Society Interest”, a copy of which is available on request.
• A tax certificate may be requested each year free of charge. A charge will be made if a duplicate certificate is requested.

Conditions for bonus payment

• A bonus of 1% of all balances is paid to the club, society or company on 31 March if the Affinity account has 25 members or more. If it has 24 members or less then only the interest rate will be paid.

Withdrawal arrangements

• Instant access, subject to Society limits.

Access

• Branch / Post.  Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.

 

• Minimum Opening Balance: £10.
• Maximum: £100,000 per individual or joint investors.
• Available to any members of a club, society or company who wish to save for a common purpose eg. Christmas party or new sports equipment.

How to apply

Opening an account with The Loughborough could not be easier – in the product information above is an application form, download and complete this form and take or post it to your nearest branch.

You will also need to bring along identification and your initial investment. All postal applications need to be sent to our Head Office

Alternatively, you can call us on 01509 631 960 or request a call back at a time convenient to you.

 

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