Home Savings at The Loughborough Which savings account is right for me? Longer Term Savings Monthly Income 90

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Monthly Income 90

Summary Box - Key Product Information for our Savings Accounts

Account Name

Monthly Income 90

Interest Rates (AERs)
  • The variable interest rate for this account is currently 2.75% Gross* (2.78% AER**, 2.20% NET)
  • Interest is variable and paid monthly on the 1st of each month.
  • Interest must be paid to a bank or transferred to another account with the Society.
  • See a full list of our current interest rates

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 tax statement is requested.

Conditions for bonus payme
  • N/A

Withdrawal arrangements
  • Withdrawals can be made subject to providing 90 days notice or can be made immediately subject to a 90 days interest penalty

Access

Branch / Post.  Download an application form to complete and send or bring into a branch with relevant ID and initial deposit.
  • Minimum Balance: £10,000
  • Maximum Balance: £100,000 per account subject to an overall Society limit of £750,000.
  • Available to individuals or joint account holders aged 16 or over in their own names. Cannot be opened by trusts or for children, operated by adults
  • Customers must specify where the interest is to be paid and provide full details on the application form.
  • If the balance of the account falls below the minimum £10,000 interest will be paid annually at a rate equivalent to the Society’s Postal account.  Withdrawals will still be subject to a 90 day notice or interest penalty.

* Gross means the contractual rate of interest payable before the deduction of income tax at the prescribed rate.  ** AER illustrates what the interest rate would be if it were paid and added each year

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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