Savings
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Savings & Investments
Postal Max
A postal account with interest paid annually.
If you want a postal account with a good interest rate then the Postal Max is the one for you. The Postal Max account provides good rates of interest with access to your investment without notice or penalty and with the convenience of saving by post. You can make two withdrawals each calendar year.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | Postal Max |
| Interest Rates (AERs) | See the "How much interest will I earn?" table below. |
| Tax Status | The gross rate(s) of interest shown will be payable net of the appropriate rate of income tax (which may be reclaimed by non-taxpayers) or, subject to the required certification, gross. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Access is limited to two withdrawals of a minimum of £100 per calendar year without notice or loss of interest, subject to the minimum balance of £2,500 being maintained. Cash transactions are not permitted. |
| Access | Account can only be opened and operated by post. |
How much interest will I earn?
| Investment | Annual Interest % Gross§ p.a./AER† (Variable) |
|---|---|
| £150,000+ | 2.25 |
| £100,000+ | 2.10 |
| £25,000+ | 2.00 |
| £2,500+ | 1.90 |
Rates correct as at 1 September 2010.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £2,500 and the maximum investment and operating balance is £1,000,000 (£2,000,000 for joint accounts).
When is interest paid?
Interest is paid annually on 31 January.
How is interest paid?
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society.
