Savings Accounts

Notice 90

Availability

Can be opened at a branch office or agency where you live or through the post.

The account holder agrees to be bound by the rules of the Society (copies available upon request) and the terms and conditions stated on this website.

Minimum Investment

£1,000 - anniversary interest.

£2,500 - monthly interest.

Additional Investments

You can add to your account at any time.

Interest

Interest is paid on the anniversary of the account or paid monthly to another Furness account, your bank account or added to your Notice 90 Account. The interest rate is variable.

If the balance in your account falls below £2,500 the monthly income option does not apply and interest is paid or added to your account on the anniversary.

Withdrawals and Closures

You are required to give 90 days notice of withdrawal and provided such notice is given, withdrawals may be made without loss of interest.

Notice of withdrawal may only be given in respect of cleared funds held in the account on the date notice is given. If 90 days notice is not given, withdrawals will be subject to a penalty amounting to 90 days interest. This will be calculated using the gross rate of interest payable on the account on the day the withdrawal is made.

The penalty will be charged against accrued interest. If the penalty is higher than the accrued interest, it will be applied against the remaining capital balance in the account with any remainder being deducted from the amount withdrawn.

If the notice period ends on a weekend or Bank Holiday, the notice will be deemed to end on the last working day before the weekend or Bank Holiday and the amount to be withdrawn will therefore be available from that date.

Notice withdrawals must be for specified amounts unless closure is requested. Notice may only be given to withdraw cleared funds not subject to an existing notice of withdrawal (i.e. notices may not run concurrently against the same funds). Only one notice may be pending against the account at any one time.

Important Notice

If the balance of the account falls below £1000 the Instant Access interest rate applies.

Charitable Assignment Scheme

All new savers opening share accounts must sign a declaration agreeing to assign any future windfall rights to the Charities Aid Foundation. For more information please telephone us on Freephone 0800 834312.

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