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

Share on:

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the account will fall below £25,000 withdrawals are subject to 50 days notice or 50 days loss of interest on the amount withdrawn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.


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.

 

Request a callback





 

Visit one of our branches

Find our nearest branch