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90 Day Notice Account Issue 2

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Product
Balance
AER
Gross
 
90 Day Notice Account Issue 2
£10,000 to £49,999
0.60%
0.60%
Product
90 Day Notice Account Issue 2
Balance
£10,000 to £49,999
AER
0.60%
Gross
0.60%
£50,000 or more
0.80%
0.80%
Product
90 Day Notice Account Issue 2
Balance
£50,000 or more
AER
0.80%
Gross
0.80%
  • Minimum to open and minimum operating amount £10,000.
  • Save up to £250,000 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. Accounts can be opened in individual or joint names.
  • A passbook will be issued when the account is opened.
Summary Box
Account Name90 Day Notice Account Issue 2
What is the Interest Rate?
    •  Interest is variable and the rates are currently as follows:
    • £10,000 – £49,999 = 0.60% Gross/AER*.
    •  £50,000+ = 0.80% Gross/AER*.
    • Interest is calculated daily and is paid annually on 31st March each year.
    • Interest can be credited to the account or transferred to another account with the Society.
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, on a balance of £10,000 at the end of a period of 12 months, you would have £10,060.
    • 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 to open and minimum operating amount £10,000.
    • Deposits can be made at any time.
    • Save up to £250,000 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. Accounts can be opened in individual or joint names.
    • This account can be operated in branch and by post.
    • A passbook will be issued when it is opened
Can I withdraw money?
    • Withdrawals are subject to 90 days’ notice, alternatively you may withdraw immediately subject to a penalty equivalent to 90 days loss of interest on the amount withdrawn.
    • The Society’s normal daily limits which are:  £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.
    • A passbook must be presented when a withdrawal is requested.
Additional Information
    • Where interest is to be paid to another account with the Society, the account holder must specify this and provide full details.
    • 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 GOV.UK and search Personal Savings Allowance.
    • *Gross means the contractual rate of interest payable before the deduction of income tax.  AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was 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