Save & Support Saint Catherine's
Do you want a savings account that makes you feel good?
Of course you do! And you can feel good for at least two reasons. Firstly, you will know you've made a great decision to save, and at the same time you will be helping a very worthwhile local cause, without much effort at all.
- Easy access savings account
- Ongoing contribution to Saint Catherine's Hospice
- Save from just £10
- You're helping to care
Why Saint Catherine's Hospice?
Saint Catherine's Hospice provides specialist palliative care for adults with advanced, progressive disease, irrespective of diagnosis, across the largest hospice catchment area in England. Saint Catherine's only receives 18% of its annual income from the NHS, with the remainder coming from donations, fundraising and hospice branches. Here are some typical costs for Saint Catherine's:
- 1 pain killing injection £7.95
- 1 bereavement counselling session £25.00
- 1 visit to day hospice £65.00
- 1 domiciliary visit by Hospice consultant £70
- Meals and beverages per patient, per month average £240
- 1 weeks stay on the In Patient Unit, approximately £2,310
What rate of interest will I earn?
You will earn a rate of interest that is shown clearly in the table below. But some of the interest paid to you will be transferred to Saint Catherine's Hospice on 1 May each year. The amount that will be transferred will be 20% of the total value of the interest paid to you. If this percentage is changed at any time, we will write to you and let you know at least 30 days before we make the change.
As an example, if you earned £50 interest on your account on 1 May, 20% (£10) would be transferred to Saint Catherine's Hospice. The statement we send you every year will show you the payments we have made to Saint Catherine's Hospice, which will show as a Debit - Interest Transfer from your account.
Rates effective at 1 May 2008.
| Annual Interest Rates for up to 3 withdrawals | |||
|---|---|---|---|
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £10 - £1,000,000 | 4.60% | 3.68% | 4.60% |
| Annual Interest Rates for 4+ withdrawals | |||
| Balance | Gross p.a.* | Net p.a.* | AER** |
| £10 - £1,000,000 | 3.90% | 3.12% | 3.90% |
All interest rates are variable. |
|||
Is my interest rate guaranteed?
The interest rate paid on this account is a variable rate but is guaranteed not to fall more than 2% below the Bank of England base rate whilst you comply with the account terms and conditions.
How much can I invest?
You can open an account with as little as £10 - knowing that every little helps. You can also invest up to a maximum of £1,000,000.
Can I add to my account?
Yes, you can add to your account at any time.
Can I make withdrawals?
Yes, you can make three withdrawals within our financial year (1 May to 30 April) without notice or penalty, starting from the day you open your account. If you need to make more than three withdrawals a year you can, but the rate of interest on your account will change to the ‘4+ withdrawal’ rate.
After our financial year your interest rate will move back to the higher rate of interest for ‘up to 3 withdrawals’ rate which applies at the time.
When will I receive my interest?
You will receive your interest annually on 1 May each year. This will then be added to your account.
Can I have more than one account?
There is no limit to the number of accounts that you can have (subject to the account being available at the time of application) as long as your total savings with the Society amount to no more than £1,250,000.
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.
Saint Catherine's Hospice Trust can claim tax back on all donations, so long as you are a tax payer and you have indicated that you want to Gift Aid your donation. Once you have opened your savings accounts, we will pass the information you have provided us with to Saint Catherine's Hospice. They will use this information to contact you to enquire whether you want to Gift Aid your donation and to ask if or how they may contact you in the future. By signing our application form and opening this savings account, you agree that we and Saint Catherine's Hospice Trust can use your information in this way.
How can I apply for an account?
- Please ensure you have read and understood all of the above terms & conditions.
- Then either complete our application form or call in to your nearest branch or telephone Investments Direct on 0845 634 3760†.
- Save & Support is available through the Society’s branches and Investments Direct 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.