Our 40-Day Notice account is a savings account that gives you quarterly interest paid straight into your account and the facility to add additional savings to the account whenever you like. If you need to withdraw funds from the account you must give us forty days notice and the funds can be withdrawn without charge.
Withdrawals require 40 days’ notice. Withdrawals without 40 days’ notice are not permitted under any circumstances except in the event of the death of an Account Holder (or one of them if a joint account).
No, Once you’ve opened an account, you can add extra savings at any time. You can even set up a regular transfer to make sure you make the most of your extra cash every month.
With the 40 Day Notice account, interest is calculated daily and added to your account on the last business day in March, June, September and December.
Interest will be paid gross without taking account of any tax payable.
If you earn interest over your Personal Savings Allowance you will be required to pay any tax due yourself directly to HM Revenue and Customs. If you would like to read more about your Personal Savings Allowance, please visit the Governments website Link opens in a new window.
A minimum deposit of £500 is required to maintain a 40-Day notice account.