What is the interest rate? Gross Annual Interest Gross Monthly Interest AER* 0.70% 0.70% 0.70% Interest is calculated daily, and paid monthly or annually.You can choose to have your interest paid to your Notice Account, any other Personal Savings account you hold with us that allows deposits, or your nominated UK bank or building society account.
Can Aldermore change the interest rate? Yes, the interest rate is variable. We can increase or decrease the rate for any of the reasons set out in our Personal Savings Terms and Conditions.
What would the estimated balance be after 12 months based on two example deposit amounts? Deposit at Account Opening Balance After 12 Months Interest Earned £1,000 £1,007.00 £7.00 £50,000 £50,350.00 £350.00 These are only examples and do not take into account your individual circumstances.The examples assume that no further deposits or withdrawals are made and that interest earned is paid to this account annually.
How do I open and manage my account? To open an account you need to be aged 18 years or over, resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income) The maximum number of account holders for this account is two You can open and manage your account online. We will accept instructions in relation to the account through our Internet Banking Service The minimum deposit required to open this account is £1,000 The maximum balance for this account is £1,000,000
Can I withdraw money? Yes, you can make unlimited withdrawals, subject to 120 days’ notice. No early withdrawals are allowed In exceptional circumstances we may permit a withdrawal from the account without the required notice but this is at our discretion, subject to evidence we will request, and we are not obliged to do so. In the event that we permit such a withdrawal we may deduct 120 days’ interest as a condition Your money can be returned to your nominated account or transferred to any other Personal Savings accounts you hold with us that allow deposits
Additional information *AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year Interest is paid gross without the deduction of income tax If you change your mind within 14 days of opening your account we will cancel your account without penalty or notice
What you need to open an account If you would like more information, or if you wish to open an account under power of attorney, please contact us before you open your new account. Our accounts are open to a wide range of people for a wide range of needs, just so long as you: have a UK bank or building society account, on which you’re named as an account holder. This is your nominated account and you’ll need the sort code and account number to hand when you open your new account with us. You can only transfer money into your Aldermore account from this account. are aged at least 18 are resident in the UK and only tax resident in the UK. Our accounts cannot be held in trust or by US Persons (meaning US citizens, residents, green card holders or taxpayers in respect of their worldwide income) have read the 120 Day Notice Account Summary Box and Personal Savings Terms and Conditions
Get in touch If you have any questions just call us on 0345 604 2678, email service@aldermoresavings.co.uk or, if you’re an existing customer, log in to your account and send us a secure message. We’ll be happy to help.
*AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded once each year.