e-Saver Account (Issue 2) Monthly Interest
Access and manage your account online 24/7. Earn a great rate of 1.83% Gross/ 1.84% AER*, with unlimited deposits and withdrawals!
Important Notice
In order to ensure we continue to deliver the highest possible level of service to our customers, we will be undertaking essential maintenance work on our online service. On Sunday 22nd November from 08:00 to 17:00 you will be unable to login or apply for any of our savings accounts online.
Benefits
- Invest from as little as £1 to £5 million.
- Access your account 24/7.
- Make unlimited transactions with no loss of interest.
- View full and mini statements.
- Secure password protection.
| e-Saver Account (Issue 2) Monthly Interest | Apply Online | ||
|---|---|---|---|
| £1 + | Unlimited withdrawals online via a Linked Account | Monthly Interest Rate |
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| Interest rates effective from 01/04/2009 | |||
Apply Online for the e-Saver Account (Issue 2) Monthly Interest
Things you need to know
- Account is not available to joint account holders.
- You must set up one Linked Account to operate your account. A Linked Account must be a personal current account with Direct Debit facilities at a UK Bank or Building Society. The Linked Account must be in your name. It may be in your name jointly with another person, but only if either of you can set up direct debits on the Linked Account. You'll be able to transfer money between the account and your Linked Account. The same conditions apply to any new Linked Account you may set up.
- Interest is variable and is calculated daily and credited to your nominated account monthly on the first day of each month. Interest can be paid away to your Linked Account or to another Birmingham Midshires Internet Savings Account.It cannot be paid back into your e-Saver Account (Issue 2). Interest paid away to another bank or building society will take three banking days to arrive in your nominated Account.
- The AER* quoted assumes the monthly interest payments are reinvested elsewhere earning an identical gross rate of interest.
Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.
NET rates are illustrative only, allowing for the deduction of income tax at 20%. If you are a higher rate tax payer, you may have a further amount to pay. If we deduct more tax than you have to pay this can be reclaimed from HMRC.
Current and previous Bank of England interest rates can be found at www.bankofengland.co.uk/monetarypolicy/decisions.htm
For telephone line opening times, please read the information in our contact section. Calls may be monitored and recorded for security and training purposes. If you're calling from outside the UK, please dial +442920781145.
