Savings Interest Rates. Rates correct as at 18 November 2013

Transcription

1 Savings Interest Rates Rates correct as at 18 November 01

2 Contents Accounts available to new customers Instant Saver Account Instant Access ISA First Saver Account Fixed Rate Bond Fixed Rate ISA Accounts not available to new customers e-savings Account Instant Access Savings Account (Offset) Instant Access Savings Account Instant Savings Tracker Account Royalties Saver Direct Saver Plus Account Telephone Saver Account First Home Saver Account Savings Accelerator Savings Account e-isa Rainbow Saving Account Bonus 0 Account Glossary Summary box Important information To find out more go to rbs.co.uk/savings or visit your local branch 1

3 Accounts available to new customers For flexible access to your money. Instant Saver Account (Effective from September 01) 1 4, ,000 99, , We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the first business day of April. Interest rates are variable Savings with tax-free interest Save up to,760 in tax year Instant Access ISA (Effective from 8 June 01) Amount held in account. % AER/Gross p.a. (variable) Interest rates for customers who opened an account on or before 8 June , ,000 14, ,000 1, ,000 6, ,000 49, , Interest rates payable with effect from 1 July 01 for accounts opened on or after 9 June , , We calculate interest on a daily basis. We add this interest to your account tax-free i.e. exempt from UK income tax, every year on the first business day of April Help your children start saving First Saver Account (Effective from November 01) Yearly interest Amount held in account Gross Rate p.a. (variable) AER (variable) Net Rate p.a. (variable) 1 4, , For under 16s only. Instant access and interest paid quarterly. No minimum balance Fixed Rate Bond and Fixed Rate ISAs Interest rates for Fixed Rate Bond and Fixed Rate ISA investments change frequently. For information on current rates please contact your local branch, visit rbs.co.uk/savings or call (Minicom ).

4 Accounts not available to new customers Accounts with instant access e-savings Account (Effective from June 01) We calculate interest on a daily basis. We add this interest to your account every year on the first business day of May. This account can only be opened and operated through our online banking service Instant Access Savings Account (Offset) (Effective from 4 July 009) This account is only available to individuals who hold or apply for an offset mortgage arrangement. Interest paid monthly If you have more than one Instant Access Savings Account in our Offset Service (see back cover for more details), we will total the balances and apply interest at the tiered rate applicable for the combined balance We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the first business day of May Instant Access Savings Account (Effective from 4 July 009) We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the first business day of May Instant Savings Tracker Account (Effective from 4 July 009) Tracking Rate % below Bank of England Base Rate n/a 00 4, ,000 9, ,000 4, ,000 49, , We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the first business day of April Important information Our Tracking Rates apply to all accounts with balances of 00 or more until the level of the Bank of England Base Rate is such that no credit interest would be payable. In these circumstances the rates as outlined in column 1 (Gross Rate p.a./aer %) will be applied

5 Royalties Saver (Effective from 4 July 009) 1 1, ,000 4, ,000 49, ,000 99, , The minimum balance needed to open the account is,000 and the maximum balance is 1,000,000 We calculate interest on a daily basis. We add this interest to your account (or to another account held at the same branch) every year on the first business day of April. This account was only available to Royalties Gold account holders and those we invite to open an account Preferential rates for Royalties Gold. This account has monthly fees Direct Saver Plus Account (Effective from 4 July 009) Amount in account Gross Rate p.a. (variable) AER (variable) Net Rate p.a. (variable) 1 4, , Interest is calculated daily and paid on the first business day of every month Telephone Saver Account (Effective from 4 July 009) 1 9, ,000 49, , We calculate interest on a daily basis. We add this interest to your account every year on the first business day of April. This account can only be operated through our telephone and online banking services 4

6 First Home Saver Account (Effective from 4 July 009) Amount held in account Cashback 00 4, Up to 10, Up to,000 1,000 Up to 0,000,00 0,000+,000 Interest is calculated and paid in the same manner and at the same rates as for the Instant Savings Tracker Account as shown in this leaflet The cashback is calculated on the lowest daily balance in the six months prior to taking out your mortgage with us The tax free (exempt from UK income tax) cashback is paid if you comply with the relevant terms and conditions that apply to your account, which are set out in Personal and Private Banking Terms and Conditions Savings Accelerator Savings Account (Effective from 18 May 009) Savings with tax-free interest Save up to,760 in tax year Interest paid quarterly Amount held in account Gross Rate p.a. (variable) AER (variable) Net Rate p.a. (variable) We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) on the first business day of January, April, July and October e-isa (Effective from April 01) Amount in account Gross Rate p.a. (variable) AER (variable) Net Rate p.a. (variable) 1 9, N/A 10,000 9, N/A 0, N/A This is an online only instant access cash ISA Interest is paid monthly Rainbow Savings (Effective from 4 July 009) Amount in account Gross Rate p.a. (variable) AER (variable) Net Rate p.a. (variable) We calculate interest on the Rainbow Savings Account on the lowest monthly balance in the account. We add this interest to your account every year in October We can pay interest without deduction of tax to non-taxpayers. If the child who is entitled to the income qualifies please complete and return HM Revenue and Customs form R8 which is available at any of our branches. If we do not receive a completed form by the time interest is payable, or the child does not qualify, interest will be paid or credited after deduction of income tax at the lower rate of 0%. Depending on the child s personal tax position you may still be able to claim tax back

7 Medium term savings Medium term savings without instant access. Bonus 0 Account (Effective from 4 July 009) Amount in account % AER/Gross p.a. (variable) AER (variable) Net Rate p.a. (variable) Excluding any bonus interest 1 99, , Interest rates when a full year s bonus is payable 1 99, , We calculate interest on a daily basis. We add this interest to your account (or to another account at the same branch) every year on the first business day of April The rates in the second part of the table illustrate the interest rate when a full year s bonus is payable. A bonus of 1.00% gross p.a. is paid every year on the first business day of April (where you have made no more than 4 withdrawals during the annual period) and is calculated on the daily cleared credit balance for that annual period (starting on the first business day of April) To find out more Visit rbs.co.uk/savings Call us on Customers with hearing or speech impairments can contact us by Minicom Or talk to us in branch Lines are open 8am-8pm Monday to Friday, 9am-4pm Saturday. We may record calls. This leaflet is available in Braille, large print and on audio tape. Ask in branch or call Interest rates and tiers are correct as at 18 November 01 and may change. Glossary Below, we explain some of the most common terms used in this leaflet, in plain English. Annual Equivalent Rate (AER) This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts. Bank of England Base Rate This is an interest rate set by the Bank of England, which moves from time to time. Gross Rate This means the interest rate you are paid before the deduction of income tax. Net This means the interest rate you are paid after the deduction of income tax. p.a. Per annum (per year). Tax-free Tax-free interest means that interest payable is exempt from UK income tax. 6

8 Summary Box Key Information for our Savings Accounts Account Name First Saver Instant Access ISA Instant Saver Instant Access Savings Account* Fixed Rate Bond Fixed Rate ISA Conditions for bonus payment N/A For limited edition bonus rates see page N/A N/A N/A N/A How to apply Branch, telephone or internet Branch, telephone or internet Branch, telephone or internet Branch and telephone Branch, telephone or internet Tax Status Interest is paid after the deduction of 0% tax. Interest is paid tax free if an R8 form is completed Tax-free (exempt from UK income tax) Interest is paid after the deduction of 0% tax. Interest is paid tax free if an R8 form is completed Interest earned on the balance of your Fixed Rate Bond will be paid after the deduction of tax, unless we hold a valid R8 declaration Tax-free (exempt from UK income tax) Interest Rate (AERs) Please refer to the rates information included within this document Fixed Rate Bond interest rates vary from month to month. Please refer to the Fixed Rate Bond information sheet for that bond issue for the current rates Fixed Rate ISA interest rates vary from month to month. Please refer to the Fixed Rate ISA information sheet for that ISA issue for the current rates Withdrawal arrangements Instant Access If you close your bond before the date specified in the information sheet for that bond we will charge you an early closure charge as detailed in that information sheet No withdrawals are permitted after funds are deposited into the Fixed Rate ISA account. If you require access to money in your Fixed Rate ISA account before the maturity date, the Fixed Rate ISA account will be closed and any money not withdrawn or transferred will be deposited into an Instant Access ISA. An early closure charge will be charged for closure or transfer of the Fixed Rate ISA prior to maturity as detailed in that information sheet *This account is only available to individuals who hold or apply for an offset mortgage arrangement. 7 8

9 Important information Interest on credit balances taxation In most instances, interest is paid after the deduction of 0% tax. If you are a non-taxpayer or overseas resident you can have interest paid without deduction of income tax provided you complete HM Revenue and Customs form R8 available at any of our branches. This also applies on a 0/0 basis where one party to a two party account is a non-taxpayer. Where the tax deducted exceeds an investor s tax liability (if any), a claim may be made to HM Revenue and Customs for repayment of tax. Individuals who pay only basic rate tax will have no more tax to pay on the interest from which tax has been deducted. Individuals who are liable at the higher rate of income tax of 40% will have to pay additional tax on the interest to cover the difference between the tax deducted and the higher rate tax due. Please note: Tax reliefs referred to are those applying under the current UK legislation, which may change. The availability of any tax relief will depend on your individual circumstances. Ask at your local branch for further information. Offset Service If you include an Instant Access Savings Account in our Offset Service, while you are offsetting, the money in your savings account is used to save you interest on your Offset Flexible Mortgage. When you start earning interest on the money in your savings account again (e.g. on any amount in your savings account over and above your outstanding Offset Flexible Mortgage balance), or if you do not yet have an Offset Flexible Mortgage in your Offset arrangement then the tax position is as detailed in the previous paragraph. Changes to Interest Rates From time to time we may alter interest rates. When we do this we may notify you by press advertisements in daily national newspapers, information on our website rbs.co.uk and, where the alteration applies to branch based accounts, by branch notices. We may also alter interest rates by notifying you personally. For more information on when and how we may change interest rates in this way, please see the following leaflet: For customers with savings accounts opened before 18 November 01 who have not been notified of a change to their savings account and the applicable Terms: Personal and Private Banking Terms and Conditions For customers with savings accounts opened on or after 18 November 01 or who have been notified of a change to their savings account and the applicable Terms: RBS Personal & Private Savings Account Terms Where you can obtain interest rate information To find out more about our current interest rates, you can: phone our helpline Customers with hearing and speech impairments can contact us by Minicom number look at our website rbs.co.uk ask any of our branch staff The Royal Bank of Scotland plc is a member of The Royal Bank of Scotland Group of companies. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Royal Bank of Scotland plc, 6 St Andrew Square, Edinburgh EH YB. Registered in Scotland No RBS L0 18/11/01 9