Savings Account
Existing members account
Key features
| Account name | Existing members account (EMA) |
|---|---|
| Interest rates (AERs) |
|
| Tax status | Gross/Net |
| Conditions for bonus payment | n/a |
| Withdrawal arrangements | Easy access.
|
| Access | Branch/post |
Product Info Follows
Current Interest Rate
2.10% Gross / AER
This rate is for balances from £1.
Apply Now
Complete this form and return to your local branch. You should also read Identification for customers and General Investment terms and conditions to ensure you understand the features and conditions of what you are buying.
Download the application form here
Additional information
Minimum opening balance
£50
Minimum operating balance
£1
New investors
Exclusive to existing members of at least two years (up to the date the account is opened).
Age requirements
None
Restricted deposit
Deposit up to £1,500 in each tax year (6 April to 5 April).
Charges
Not for the normal operation of the account (see our General Investment terms and conditions PDF for more details).
Additional benefits
Square Deal Cash ISA
Suitable for balances from £50 if you are aged 16 or over, require easy access to your savings and have not subscribed to a Cash ISA in the current tax year.
Instant Premium
Suitable for balances from £500 if you require easy access to your money and have more than £1,500 to invest.
Important information
An EMA can only be held by an investor in his or her sole name. Joint accounts are not permitted. To be eligible for an EMA you must be an investing and/or borrowing member of the Society and have held continuous membership for at least two years.
Withdrawals have no effect on the amount you can deposit. Once you have invested the full amount for the tax year, you cannot make additional investments, regardless of withdrawals made during the tax year or the balance of the account. For example, if you invest £1,500 in an EMA on 10 January 2010 and then withdraw £500 on 15 February 2010, you will need to wait until the following tax year (6 April 2010) before you can add to your investment.
The additional benefits on the Existing members account are available to EMA investors only, they cannot be transferred to others. The £100 cash bonus benefit applies per mortgage completed (joint borrowers do not receive double the benefit) and cannot be used in conjunction with any other offer.
Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law, currently 20%. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE
Minimum opening balance
£50
Minimum operating balance
£1
New investors
Exclusive to existing members of at least two years (up to the date the account is opened).
Age requirements
None
Restricted deposit
Deposit up to £1,500 in each tax year (6 April to 5 April).
Charges
Not for the normal operation of the account (see our General Investment terms and conditions PDF for more details).
Additional benefits
- Annual savings review.
- £100 cash bonus on top of normal mortgage benefits if you are an existing borrower taking out a new mortgage with us to move home or an investor moving home/or remortgaging your main residence to us from another lender.
- Member loyalty card enabling discounts and special offers from local traders who participate in our scheme.
Square Deal Cash ISA
Suitable for balances from £50 if you are aged 16 or over, require easy access to your savings and have not subscribed to a Cash ISA in the current tax year.
Instant Premium
Suitable for balances from £500 if you require easy access to your money and have more than £1,500 to invest.
Important information
An EMA can only be held by an investor in his or her sole name. Joint accounts are not permitted. To be eligible for an EMA you must be an investing and/or borrowing member of the Society and have held continuous membership for at least two years.
Withdrawals have no effect on the amount you can deposit. Once you have invested the full amount for the tax year, you cannot make additional investments, regardless of withdrawals made during the tax year or the balance of the account. For example, if you invest £1,500 in an EMA on 10 January 2010 and then withdraw £500 on 15 February 2010, you will need to wait until the following tax year (6 April 2010) before you can add to your investment.
The additional benefits on the Existing members account are available to EMA investors only, they cannot be transferred to others. The £100 cash bonus benefit applies per mortgage completed (joint borrowers do not receive double the benefit) and cannot be used in conjunction with any other offer.
Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law, currently 20%. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
WE HAVE NO CURRENT PLANS TO WITHDRAW THIS PRODUCT BUT IT MAY BE WITHDRAWN WITHOUT NOTICE
