Scarborough Launches New Accounts Paying 6.30% and 6.50%

Press release published on 19 July 2007 by Scarborough Building Society

Scarborough Building Society has just launched two outstanding new savings products to give customers a high interest way of saving for the future.

The Scarborough accounts are helping customers to take advantage of the recent rate rise, offering the financial advantages that are available from a notice account – as well as an easy access offering, both with highly competitive rates.

The first account is a new issue of the Society’s highly successful Click & Save series, offering 6.30%, fixed until 30 September, 2008.

Meanwhile, Scarborough’s Click & Save Notice Issue 2 pays a highly competitive rate of 6.50%, also fixed until 30 September, 2008.

Both accounts are easy to open – application forms are exclusively available from the Society’s website. Customers can just download the form, complete it and post it back, enclosing a cheque for their opening balance.

Scarborough’s Head of Group Marketing, Tony Burdin, said: ‘In the current climate of rising interest rates, it is important that customers feel that they are getting good deals for their savings.

‘And, due to the favourable conditions, saving is obviously becoming more prevalent. Our Click and Save accounts have been so popular since they were launched and we believe that both the easy access and notice accounts will be similarly well received.’

The Click & Save and Click & Save Notice accounts are available through the Society’s website at www.scarboroughbs.co.uk.

Product Details – Click & Save Issue 6

• Interest can be taken annually or monthly
• Rates are 6.30% (or -6.10% monthly), fixed until 30 September, 2008
• Tracks Bank of England Base Rate, currently 5.75%, (- 0.20% for monthly interest) until 30 September, 2009
• Bank of England Base Rate – 0.45% (- 0.65% for monthly interest) from 1 October, 2009
• Withdrawals permitted at any time, subject to a minimum withdrawal of £1,000
• Minimum balance £1,000, maximum £1 million
• If the balance falls below £1,000, the Society’s variable base savings rate will apply
• Additions can be made to the account, by cheque, while the issue remains open.

Product Details– Click & Save Notice Issue 2

• Interest can be taken annually or monthly
• Rates are 6.50% (or 6.30% monthly), fixed until 30 September, 2008
• Tracks Bank of England Base Rate, currently 5.75% (-0.20% for monthly interest), until 30 September, 2009
• Bank of England Base Rate – 0.25% (- 0.45% for monthly interest) from 1 October, 2009.
• Withdrawals can be made at any time with 90 days loss of interest. Alternatively, 90 days notice can be given for penalty-free withdrawals
• Minimum balance £1,000, maximum £1 million
• If the balance falls below £1,000, the Society’s variable base savings rate will apply
• Additions can be made to the account, by cheque, while the issue remains open.

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