A simple Easy Access account. Make withdrawals without giving notice and we pay you a variable interest rate, and you can choose to receive your interest monthly or annually.
Before you apply for an account please read the following information:
The product summary below, the Key Product Information, the Terms and Conditions and the Depositor Protection Scheme Information documents.
||Easy Access - Issue 8
|What is the interest rate?
Interest rate for balances of £1,000 or more:
Annual Interest (Variable) 0.75% Gross / AER
Monthly Interest (Variable) 0.75% Gross / AER
Interest rate where the balance falls below the minimum account opening balance;
0.05% Gross/AER (Variable)
Interest is calculated daily. If you have opted for annual interest we credit the interest on the anniversary of the date of receipt of your first deposit. If you have opted for monthly interest we credit the interest on the monthly anniversary of the date of receipt of your first deposit.
|Can Shawbrook Bank change the interest rate?
The Interest rate is variable and may be altered in accordance with the account Terms and Conditions and Section 17 Change To Interest Rates of our Terms and Conditions for Personal Savings Accounts.
|What would the estimated balance be after 12 months based on a £1,000 deposit?
A deposit of £1,000 at an annual Gross rate of 0.75% (variable) would generate an estimated balance of £1,008 in one year - This is for illustrative purposes only.
(This illustrative example assumes no withdrawals, no changes to the variable interest rate over the period and interest is paid annually on a cleared deposit. Interest is rounded to the nearest pound. The illustrative example does not take into account the individual circumstances of a customer.)
|How do I open and manage the account?
- You can apply on-line. This account can be operated online through email, through secure message and by telephone on 0345 266 6611.
- Only 1 Easy Access account is permitted per customer, which can be a sole or joint account.
- Minimum account opening balance of £1,000.
- Maximum account balance of £75,000.
- The account is only available to individuals who are 18 years of age or over, permanently resident in the UK and can provide a UK bank account as a nominated account. Shawbrook Bank only provides savings accounts for individuals who are permanent UK residents (excludes Channel Islands, Isle of Man and other Crown dependencies) and only liable to pay tax in the UK. Please notify us immediately if your circumstances change and you are no longer a permanent UK resident and/or no longer only liable for UK tax.
|Can I withdraw money?
- No limitation on the number of withdrawals. No notice of withdrawal required.
- Withdrawals and deposits can be made at any time to and from your nominated account only.
- The minimum account withdrawal amount is £500. (Where a withdrawal request is received prior to 2:30pm on a working day, your funds should be received into your nominated account on the next working day.) Please see our Terms and Conditions for Personal Savings Accounts.
||Interest is paid Gross.
The information provided in the summary box above is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.