1 year Fixed Rate e-Saver
Please make sure you have read the Summary box
and Savings Terms and Conditions
4.15%
Fixed
Gross / AER*
Variable
Gross / AER*
paid at
paid
payable per ÂŁ1,000
p.a. per ÂŁ1,000
opening balance
For when you want to be able to make withdrawals, but don’t need instant access
This may be right for you if:
- You’re looking for a guaranteed interest rate
- You can leave your savings untouched for a fixed term
- You’re happy to administer your account online
Consider something else if:
- You might want to make withdrawals
- You want an account with an unlimited term rather than a fixed period
Please make sure you have read the Summary box
and Savings Terms and Conditions
Important information and documents
Summary Box
This Summary Box information sheet sets out the key information you need to know about your Fixed Rate e-Saver. This forms
part of our agreement with you, together with the General Terms and Conditions and the Fixed Rate e-Account Terms and
Conditions. Please keep it for future reference.
What is the interest rate?
4.15% gross p.a.* / 4.15% AER
Interest is calculated daily and paid at maturity. You will start earning interest once your account balance reaches ÂŁ1,000. If additional money is added after this point, interest will be paid on that amount from the day it is deposited.
Accounts with interest paying at maturity will have their interest paid into your Castle Trust Bank savings account on the day of maturity. Interest will be applied, but not available to be withdrawn, on each interim anniversary of the account opening for terms of more than one year and may need to be noted on annual income tax returns where appropriate.
*The Annual Equivalent Rate (AER) illustrates what the interest rate would be if interest was paid and compounded once each year, and it makes it easier for you to compare savings accounts.
Gross p.a. is the interest rate without tax deducted.
Can Castle Trust Bank change the interest rate?
Castle Trust Bank will not change the interest rate for the duration of the term of your Fixed Rate e-Saver.
What would the estimated balance be on the date the Fixed Rate e-Saver matures based on a ÂŁ1,000 deposit?
On a deposit of ÂŁ1,000.00 the estimated balance would be:
| Term | Interest paid | Initial deposit | Estimated balance | Total interest payable |
|---|---|---|---|---|
| 1 Year | At Maturity | ÂŁ1,000 | ÂŁ1,041.50 | ÂŁ41.50 |
The estimated balances are for illustration only and are based on:
- Interest calculated daily and paid at maturity,
- The date on which the Fixed Rate e-Saver matures,
- The assumption that the Fixed Rate e-Saver is not closed before the end of the fixed term.
How do I open and manage my account?
To apply for a Fixed Rate e-Saver you must:
- be aged 18 or older,
- be a UK resident,
- have a National Insurance number,
- have a UK mobile number and a valid email address,
- have a UK based current account in the name of the account holder(s).
You can apply for a Fixed Rate e-Saver online through the website and, once you have registered your online log in details, through the Self Service Portal or the mobile app. A Fixed Rate e-Saver can have up to two joint account holders.
When you open your account, you will have a 14 day funding window to make your deposit(s) by bank transfer into your account to meet the minimum value of ÂŁ1,000 up to the maximum value of ÂŁ500,000, after this time you will not be able to make any further deposits. If we have not received a deposit within the 14 day funding window, your account will be closed.
A Fixed Rate e-Saver is an online account and is intended to be managed online through the Self Service Portal or the mobile app. You can view your accounts, download copies of statements, provide your maturity instructions online as well as contact us for any queries you may have, through the message centre in the Self Service Portal.
Can I withdraw money?
You can’t generally take money out of a Fixed Rate e-Saver until the account matures at the end of the term. We will, at our discretion, consider withdrawals or account closure should you encounter and can demonstrate financial hardship, but you should note that an Early Exit Fee equivalent to any unpaid interest on the amount being withdrawn would be applied. The maturity date is determined by the fixed term selected and the date you opened your account.
Additional information
You have the right to cancel your account during the 14 days from your account opening date, we call this the “Cooling Off Period”. You don’t need to give us a reason and we won’t charge you a cancellation fee, however, if you cancel your account during the Cooling Off Period, you won’t receive any interest on your deposit for the time it was in your Fixed Rate e-Saver.
We will contact you before your maturity date to explain the options available to you so you can tell us what you want us to do with your money. If your Fixed Rate e-Saver matures and we have not received an instruction from you, a Maturity Holding Account will be opened for you.
Interest is paid at the Gross Rate without deducting any tax. You may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more information, please visit HMRC’s website hmrc.gov.uk.