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Regular Saver – Issue 1

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Product
Balance
AER
Gross
 
Regular Saver – Issue 1
£10 or more
0.85%
0.85%
Product
Regular Saver – Issue 1
Balance
£10 or more
AER
0.85%
Gross
0.85%
  • Minimum monthly deposit: £0.00
  • Maximum monthly deposit: £500.00
  • Total maximum investment per account year: £6,000 (lump sum deposits are not allowed).
  • Available to new and existing customers  aged 16 and over residing in the United Kingdom.
  • A passbook will be issued when the account is opened.
  • One account per person, solely or jointly.
Summary Box
Account NameRegular Saver – Issue 1
What is the Interest Rate?
    • Interest is variable and the rate is currently 0.85% Gross/AER*.
    • Interest is calculated daily and paid on the anniversary of the account opening.
    • For a full list of our current interest rates click here.
Can the Loughborough Building Society change the Interest Rate?
    • We may change interest rates at any time.
    • For further information about why we may change the rate and how we will tell you about a change, please refer to section 7.4 of the Society’s General Terms and Conditions.
What would the estimated balance be after 12 months?
    • Based on the current interest rate, if you deposited £500.00 into the account on the 25th of every month over a period of 12 months, you would have £6,027.69.
    • Please note that these projections are provided for illustration purposes only and assume that no other changes take place on the account.
How do I open and manage my account?
    • To open an account you need to provide a completed application form, the minimum deposit and  proof of your identity and address.
    • Minimum monthly deposit: £0.00.
    • Maximum monthly deposit: £500.00.
    • Minimum opening and operating balance:£10.
    • One single payment to be made in any one month, although you can vary the amount subject to a the minimum and maximum monthly deposit.
    • Total maximum investment over the 12 month period: £6,000 (lump sum deposits are not allowed).
    • Save up to £85,000 in this account, subject to an overall member limit of £750,000.
    • Available to new members and existing members aged 16 years and over, residing in the United Kingdom.
    • One account per person, solely or jointly.
    • This account can be operated via branch and post.
    • A passbook will be issued when it is opened.
Can I withdraw money?
    • Instant access subject to the Society’s daily limits.
    • If the accout balance falls below the minimum operating limit of £10, the account must be closed.
    • Closure/withdrawal requests can be made at the branch or agency or by post. The passbook must be presented for each withdrawal.
    • Withdrawals are subject to the Society’s daily cash/cheque limits; £500 cash or £99,999 cheque per day at any branch or agency office. Larger amounts of cash up to £2,000 and cheques over £99,999 require at least 24 hours notice.
Additional Information
    • Deposits can be made by cash or cheque at any branch or agency, by standing order, by post or by internal transfer from another Society account. Deposits must reach the Society by the 28th, reminders will not be sent for missed/late deposits.
    • Once the account becomes a closed issue, no further deposits may be made.
    • Interest is payable gross (no tax is deducted). However, you may be liable to pay tax depending on your income, for further details go to www.GOV.UK and search Personal Savings Allowance.
    • *Gross means the contractual rate of interest payable on which you may be liable to pay income tax at the prescribed rate. AER illustrates what the interest rate would be if it were paid and added each year.

Terms and Conditions

Before opening this account please read our General Terms and Conditions.

 

Financial Services Compensation Scheme

We are covered by the Financial Services Compensation Scheme (FSCS).  The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.  It’s important that you read the FSCS Information Sheet. It provides basic information about the protection of your savings deposits.

Opening an account is easy and you can do that in any of our branches or by post.

Simply download, print and complete the application form.  Then return your completed form, necessary identification and opening cheque to your preferred branch or post it to Loughborough Building Society, 6 High Street, Loughborough LE11 2QB.

Cheques must be payable to the account holder.

For postal applications we will accept photocopy identification documents as long as they are certified by an appropriate person such as a solicitor, accountant, bank or building society official or other financial services approved person and we are provided with sufficient information to be able to contact that person.

You should read all the product information to ensure this account is right for you and also the Financial Services Compensation Scheme Information Sheet and our General Terms and Conditions.

Download an application form