Savings Direct 7 Day Notice Account

• Earn a competitive interest rate for your money.
• Add to your savings anytime.
• Get access to your money whenever you need to. The requirement to give 7 days’ notice to make a withdrawal no longer applies

• Lodgements can only be made by cheque and electronic transfer.
• Minimum balance on the account is £1, maximum balance on the account is £1,000,000.
• You can withdraw money from this account to a bank account in your name, nominated at account opening.
• This account can only be operated by phone and by post.
• Interest is calculated daily and paid yearly in April.
• You can access your funds by serving the relevant notice period.
• You don’t need to make regular deposits - but if you wish to save regularly you can by means of a standing order from any current account or demand deposit account.
• The current requirement to give 7 days’ notice to make a withdrawal has been removed* and so there are no charges for withdrawing from this account.

*please note this can be re-introduced by the Bank at any time.

From 6 April 2016 - Credit interest on all accounts will be paid gross (under new legislation tax will not be deducted when credit interest is paid). If your credit interest is more than your personal Savings Allowance you may still have to pay tax. Please see www.gov.uk for information on the Personal Savings Allowance or speak to a tax advisor.