1 Year Regular Saver (Issue 4)
|What is the interest rate?||
The current interest rate is 1.00% Gross/AER
Interest is variable and is added to your account on the anniversary of the account opening date.
|Can Furness Building Society change the interest rate?||
As the interest rate is variable, we may change the rate if we reasonably believe that the change is needed. 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
For full details on how and why we will change the interest rate on your account,please refer to Section 7 of the General Savings Terms and Conditions.
|What would the estimated balance be after 12 months?||
If you open the account with maximumopening deposit of £250, and deposit themaximum monthly deposit of £250 on the first day of each month, after 12 months you would have £3,016.33.
|How do I open and manage my account?||
Opening your account
To open your account you must be 16 or over and a permanent resident in the UK. The regular saver can only be opened as a single account. There are no restrictions on how many regular saver accounts you can open.
Simply call into your local Furness branch, call us on 0800 834 312 or access the application form on our website www. furnessbs.co.uk. 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 by contacting us by telephone or on our website.
If you are already a Furness customer, in most cases this will not be necessary. When you open your account in the branch or by post you will receive a passbook.
The minimum opening deposit is £1.
The maximum opening deposit is £250.
You must make a monthly deposit of between £1 and £250 per calendar month. You can vary the amount you pay in each month subject to the minimum and maximum limits. You can make as many payments as you like each month subject to the maximum limit. One payment of at least £1 must be made to your account each
|Can I withdraw money?||
The Regular Saver allows one withdrawal to be made in the term. If more than one withdrawal is required in the anniversary year, we will transfer your balance to an access account and the relevant terms and conditions and interest rate will apply. We will notify you of this at that time. As long as you leave £1 or more in your account you can carry on saving each month. You can close your account at any time without notice or penalty.
The account will mature one year from date of opening.
We will write to you 14 days before the account matures to tell you about other savings accounts available to you. If we don’t hear from you, at the end of the term, your savings will automatically transfer into an access
Please note that Furness Building Society offers other savings accounts and if you would like details, please ask at your local branch or call us on 0800 834 312 or visit our website. You must read the General Savings Terms and Conditions and Other Important information to ensure that you fully understand how your account works and your responsibilities as an account holder.
Please confirm you have read the important information below. Only when you have read the information and fully understand how the account works should you click to download the application form. We recommend that you print a copy of the documents for your records and keep them in a safe place.