120-Day Notice e-Saver
Please make sure you have read the Summary box
and Savings Terms and Conditions
3.50%
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 happy for your interest rate to be variable
- You want to be able to make withdrawals
- You don’t need instant access
Consider something else if:
- You’re looking for a fixed interest rate
- You may need to access your money immediately
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 Notice e-Saver. This forms part of our agreement with you, together with the General Terms and Conditions and the Notice e-Account Terms and Conditions. Please keep it for future reference.
What is the interest rate?
3.50% gross p.a.* / 3.50% AER
Interest is calculated daily and is capitalised on the anniversary of the account being opened, or at closure. 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.
*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 can change the interest rate on Notice e-Savers:
• if we increase the interest rate, we will notify you at the time of the change and the new interest rate will be applied to your account from that point forward.
• if we decrease the interest rate, we will notify you in advance of the change equal to the Notice Period on your account plus an additional 14 calendar days, after which the new interest rate will be applied.
What would the estimated balance be after 12 months 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 |
|---|---|---|---|---|
| 120 Days | Annually | ÂŁ1,000 | ÂŁ1,035.00 | ÂŁ35.00 |
The estimated balances are for illustration only and are based on:
- interest is calculated daily and added annually,
- the assumption that the Notice e-Saver is not closed before the anniversary of the account being open.
How do I open and manage my account?
To apply for a Notice 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 Notice 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 Notice e-Saver can have up to two joint account holders.
Your account will start to earn interest when the balance meets the minimum of ÂŁ1,000. Interest is then earned up to the maximum balance of the account. The maximum balance that can be held in this account is ÂŁ100,000 (unless exceeded due to interest received). If a withdrawal takes your balance under the minimum of ÂŁ1,000, your account will stop earning interest until the minimum balance is once again reached.
A Notice 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, and contact us for any queries you may have through the message centre in the Self Service Portal.
Can I withdraw money?
Withdrawals can be made, subject to the provision of the appropriate number of days’ notice applicable to 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 Notice e-Saver.
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.