Easy Saver & Easy Saver Special
This account can only be opened & operated via one of our branches.
Easy Saver is our branch based easy access savings account with a minimum investment of just £1. This account allows withdrawals without notice or charge, and offers the option of either annual interest or monthly income. Easy Saver Special is our branch based account for customers wanting to have a state or private pension paid into the account by bank transfer.
Our Investments Direct equivalent account is Easy Saver Direct, which is a telephone and postal account with a minimum required balance of £1,000.
What rate of interest will I earn?
Rates effective at 1 May 2008.
All rates shown are variable.
| Annual Interest Rates for up to 3 withdrawals | |||
|---|---|---|---|
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £25,000 - £1,000,000 | 3.90% | 3.12% | 3.90% |
| £5,000 - £24,999.99 | 3.65% | 2.92% | 3.65% |
| £1,000 - £4,999.99 | 3.55% | 2.84% | 3.55% |
| £1 - £999.99 | 3.55% | 2.84% | 3.55% |
| Annual Interest Rates for 4+ withdrawals | |||
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £25,000 - £1,000,000 | 3.20% | 2.56% | 3.20% |
| £5,000 - £24,999.99 | 2.95% | 2.36% | 2.95% |
| £1,000 - £4,999.99 | 2.85% | 2.28% | 2.85% |
| £1 - £999.99 (Except Easy Saver Specialˆ) |
0.30% | 0.24% | 0.30% |
| Monthly Interest Rates for up to 3 withdrawals | |||
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £25,000 - £1,000,000 | 3.80% | 3.04% | 3.87% |
| £5,000 - £24,999.99 | 3.55% | 2.84% | 3.61% |
| £1,000 - £4,999.99 | 3.45% | 2.76% | 3.51% |
| £1 - £999.99 | 3.45% | 2.76% | 3.51% |
| Monthly Interest Rates for 4+ withdrawals | |||
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £25,000 - £1,000,000 | 3.10% | 2.48% | 3.14% |
| £5,000 - £24,999.99 | 2.85% | 2.28% | 2.89% |
| £1,000 - £4,999.99 | 2.75% | 2.20% | 2.78% |
| £1 - £999.99 (Except Easy Saver Specialˆ) |
0.30% | 0.24% | 0.30% |
All rates are variable ˆFor Easy Saver Special accounts (4+ withdrawals), the interest rate on the £1 - £999.99 band is equal to the rate for the £1,000 - £4,999.99 band. |
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Can I add to my account?
Yes. You can make additional payments into your account at any time by cash, cheque or transfer from another Scarborough account or by bank standing order, up to the maximum limit of £1,000,000 including interest. However, to qualify for the Easy Saver Special account a state or private pension bank payment must be received into the account each calendar month.
Can I make withdrawals?
Yes, you can make three withdrawals each anniversary year without notice or penalty, starting from the day you open your Easy Saver account. If you need to make more than three withdrawals per anniversary year you can, but the rate of interest on your account will change to the '4+ withdrawal' rate.
After the anniversary of you opening the account, your interest rate will move back up to the higher rate of interest applicable to the 'up to 3 withdrawals' rate.
Related terms & conditions
Please ensure you have read all the above terms & conditions, as well as all terms and conditions contained within the terms and conditions section.
How can I apply for an account?
- Please ensure you have read and understood all of the above terms & conditions.
- Please call in to your nearest branch.
- Easy Saver and Easy Saver Special are available throughout our Branch network and may be withdrawn at any time without notice.
* The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law. The net rate is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate (the net figures quoted assume liability at a tax level of 20% for illustrative purposes only).
** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Please note that the account specific Terms and Conditions may preclude you from earning these rates.