No lump sum? You may want to look into our regular savings account. Get the ball rolling now with anything from £25 to £300 from your 1st Account in the first month. Then make regular monthly payments by standing order up to the monthly limit. If you do not save the maximum monthly subscription of £300 in any given month, you can carry over any unused subscription to the following month.
| How much it pays | |
|---|---|
| 8.00% AER/gross | That's fixed for 12 months. So if you saved £300 per month for 12 months, you'd receive returns of approximately £156 gross (£124 net) in interest after 12 months. Interest is calculated daily and paid on the 12 month anniversary after account opening. |
| How much you can save | |
|---|---|
| Month 1 | Start with £25 to £300. |
| Months 2-12 | Saving as little as £25 a month by Standing Order for a fixed term of 12 months. The monthly subscription limit is £300. However, if you do not save £300 in any given month, you can carry over any unused subscription to the following months.
Regular Savers can save up to a maximum of £3600 a year into this account. |
| How to make payments | |
|---|---|
| First payment | From your 1st Account on the day you open your account. |
| Regular payments | By standing order from your 1st Account on the monthly anniversary of account opening (or next working day if your payment date falls on a weekend or bank holiday). |
| Other things you should know | |
|---|---|
| Withdrawals | No partial withdrawals. Need to access your money in the first 12 months? You can close the account and receive interest at our standard variable Savings Account rate for the time your Regular Saver Account was open. |
| Availability | Sole account holders only. Only one account per person. |
| Banking Fee | This account does not qualify you for the waiver of the Banking Fee on your first direct 1st account. |
After the first 12 months...
The money you've saved and the interest earned are transferred automatically to either an Everyday e-Saver or Savings Account in your name.
AER: The Annual Equivalent Rate is the notional rate which illustrates what the gross rate would be if interest was paid and compounded each year.
Gross: The interest rate before the deduction of tax applicable to interest on savings.
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