| Summary Box -
Key Product Information for our Savings Accounts |
| Account Name |
Future First Account |
| Interest Rates (AERs) |
- The variable interest rate for this account is currently 2.20% Gross/AER*.
- For a full list of our current interest rates, either go to www.theloughborough.co.uk, call 01509 631960 to request an interest rates booklet or visit your nearest branch.
- Interest is variable and is paid annually on 31st December.
- Interest must be added to the account, it cannot be paid.
|
| 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 |
4 withdrawals per calendar year are allowed without notice or penalty (subject to the Society's normal withdrawal limits). Once 4 withdrawals have been made, no further withdrawals will be allowed that calendar year. |
| Access |
Branch / Post |
- Minimum Opening Balance: £1.00
- Maximum: £50,000
- Available to all existing members aged 16 to 25 years and to new members aged 16 to 25 years residing the LE, DE & NG postcode areas only.
- Interest will be added to the account annually on 31st December.
- Only one saver can be linked to an account.
- A passbook will be issued when the account is opened.
- We will contact you around your 25th birthday to advise you of the options available.
