A competitive rate of
Type of Account
Save the Red Squirrel Charity Savings Account
|What is the interest rate?||
The current interest rate is: 0.10% Gross / 0.10% AER
Interest is variable, calculated on a daily basis and is paid annually on 31 December
Interest can be added to your Furness Affinity and Charity account, paid to another suitable Furness account or an external bank/building society account.
|Can Furness Building Society change the interest rate?||
As the interest rate is variable, we may change the rate if we reasonably believe
If we increase the rate we will tell you within 30 days of the change. If we reduce the rate we will tell you no less than 14 days before we make the change.
For full details on how and why we will change the interest rate on your account, please refer to Section 7 of the General Investment Terms and Conditions.
|What would the estimated balance be after 12 months based on a £1,000 deposit?||
Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,001.
This figure is for illustration purposes and is based on no additional deposits, withdrawals or changes in interest rate within the 12 month period.
|How do I open and manage my account?||
Opening your account
To open your account you must be permanently resident in the UK.
Simply call into your local Furness branch or agency, call Furness Direct on 0800 834 312 or you can apply online below.
You will need to provide some identification when you open your account and details of our requirements can be obtained from your local branch or agency, by contacting Furness Direct or on our website. If you are already a Furness customer, in most cases this will not be necessary. When you open your account you will receive a passbook.
Savings limits and additional investments
Minimum investment £1 - Maximum investment £250,000 (£500,000 in a joint account). You can add to your account at any time subject to the maximum investment limit.
Payments into the account can be made by faster payment, standing order or by cash or cheque at your local branch or agency. You may also send a cheque through the post. Please ensure that cheques are made payable to the account holder and quote the account number on the payee line.
To manage your account, visit us at a branch or agency or by sending us your written instructions.
|Can I withdraw money?||
You can withdraw from your account at any time without notice or penalty by visiting us at a branch or agency or by sending us your written instructions. You must always present your passbook to make a withdrawal or close your account.
Please note that branch and agency limits apply to cash withdrawals.
If you open this account online you will not be able to withdraw from your savings for 14 days after we receive your initial opening payment.
Furness Building Society will make a cash payment to Save the Red Squirrel each year equal to 0.50% of the average total balance held in all Save the Red Squirrel Charity Accounts.
Please note that the Furness offers other Access Accounts and if you would like details, please ask at your local branch or agency, call Furness Direct on 0800 834 312 or visit our website.
You must read the General Investment Terms and Conditions and Other Important Information leaflet to ensure you fully understand how your account works and your responsibilities as an account holder.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest is paid and added to your account each year. From 6 April 2016, if you’re a basic rate tax payer you’ll be able to earn up to £1,000 in savings income tax free. Higher rate tax payers will be able to earn up to £500. Additional rate tax payers will not receive any allowance. This is called the Personal Savings Allowance. This means that most people will no longer pay tax on savings interest. Banks and building societies will stop deducting tax from your account interest.
The red squirrel is the only species of squirrel native to England. This beautiful animal is an integral part of our countryside and our natural heritage.
In the UK, the red squirrel is suffering a major decline. UK numbers have fallen from around 3.5 million, to a current estimate of around just 120,000. The population in England is thought to be a low a just 15,000. Open a Save the Red Squirrel Charity Account today - the more you save the more we will give to this charity.
Call Furness Direct on 0800 834 312 to receive an application form
Find your nearest Furness branch online