|eSaver 180 (2nd issue)
|What is the interest rate?
Interest is calculated on the daily balance of the account.
Interest payable annually on 31 December.
|Can Mansfield Building Society change the interest rate?
This is a variable rate online savings account and we have the right to vary the interest rate at any time.
The interest rate is variable and the rate can go down as well as up. If we change interest rates to your disadvantage on a variable rate account we will notify you in writing or by email at least 14 days prior to the rate change.
For more information on changing interest rates please see Section 7 of our General Account Terms and Conditions.
|What would the estimated balance be after 12 months based on a £1,000 deposit?
This projection is provided for illustrative purposes only and does not take into account your individual circumstances. This assumes that the account is opened on 1 January with a £1,000 cash deposit and that no further deposits or withdrawals are made during the first 12 months. The projected balance is based on the annual rate (AER1).
|How do I open and manage my account?
You can open and manage your account online only.
Available to savers aged 16 or over.
Simply complete the application online and follow the online instructions to open your account.
A minimum of £1,000 must be deposited in order to open the account. Your initial deposit must be received from your nominated bank account within 7 days of the account opening.
A maximum investment of £250,000.
You can only make deposits into your account by electronic bank transfer from a nominated bank account in your name.
The account can be added to as long as the account remains available for new savings and your total savings with us do not exceed £400,000 regardless of whether the account is held in single or joint names.
|Can I withdraw money?
Withdrawals or closure are subject to 180 days notice and can be made either to your nominated bank account or to another account with us in your name.
Money transferred to your nominated bank account will be credited no later than the end of the next working day following the working day on which the withdrawal is processed. This is not a payment account.
No cash or cheque withdrawals allowed.
A variable rate interest savings account for savers who want a higher return on their savings with 180 days written notice for withdrawals or closure and who want to open and operate their account online.
We calculate interest on an amount deposited by electronic transfer from and including the day we receive it. We calculate interest on an amount withdrawn up to and including the day before withdrawal.
Interest is paid gross without tax deducted.
Interest can be added to your account, credited to another account with the Society, or sent direct to your nominated bank account.
Our General Account Terms and Conditions, which is available to download from our website, provides full details of the terms and conditions applied to this and other accounts offered by us.
Where there is a conflict between information displayed on the product and the General Account Terms and Conditions, the terms of the product will apply.
The General Account Terms and Conditions are provided to all new account holders and are also available on request.
You can open and manage your account online only, simply complete the application online and follow the online instructions to open your account.
In common with other financial organisations we will need evidence of identification and proof of residency. Please see the You and Your Savings Account leaflet for details.
If you change your mind about your choice of account, you may cancel it within 14 days of the day the account is opened or the day on which you receive the terms and conditions of the account and other information on paper or electronically, whichever is later.
We will help you switch to another of our accounts or we will give you all your money back with any interest it has earned. We will ignore any notice period and any penalties relating to withdrawals or closure of the account.
All new customers opening a savings account will be required to sign a declaration agreeing to assign any windfall conversion benefits to the Charities Aid Foundation. This assignment will apply for the first 5 years of membership. Existing members with continuous membership prior to the effective date are not affected. Our Charitable Assignment Scheme leaflet provides full details.
1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to each year. AERs on the Monthly Income accounts assume interest is added to the account each month although in practice the option to have interest added in this way is not available.
2. The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.
^Tax free means you won’t pay UK tax on any income or capital gains your ISA makes.
Our savings accounts are exclusively available to UK Residents only.
These account details apply to personal investors only unless stated in the detailed information.
The Mansfield Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Reference number 206049. Member of the Building Societies Association.
Date printed: 04/03/2024 10:26:35 am
Page last updated: 26/01/2024 03:56:52 pm
Page last updated: 26/01/2024 03:56:52 pm