INTEREST RATES FOR SAVERS · £10,000. Withdrawals can be made at any time by cash or cheque and...

Modern savings Traditional service

INTEREST RATES FOR SAVERSJanuary 2017

INTEREST RATES FOR SAVERS

At the Hinckley & Rugby the safety and security of our members’ savings has been, and always will be, our number one priority. This is reflected in the Society’s prudent approach to mortgage lending (resulting in a mortgage book of the highest quality) and a simple and transparent business strategy.

Hinckley & Rugby is committed to providing an extensive range of competitive savings accounts and mortgage schemes and to maintaining the highest standards of customer service. The Society does not operate a call centre and endeavours to ensure every telephone call is answered personally by a member of staff within five rings. No appointments are necessary to open an account at any of our branches.

Hinckley & Rugby is a top 20 society with total assets of more than £650 million and over 50,000 savers. In addition, it has over 7,000 borrowers who are also benefiting from the Society’s success.

Hinckley & Rugby is not only represented in some of the larger towns of the East and West Midlands, but is also strongly committed to having outlets in smaller village communities, where it is often the only financial services provider for miles around.

Conversion to a bank is not an option for a regional society such as Hinckley & Rugby. Our future clearly lies in providing the benefits of mutuality to our members who are, of course, our customers.

Hinckley & Rugby Building Society is a member of the Financial Ombudsman Service where complaints we cannot settle internally may be referred.

Choose Hinckley & Rugby

We’ve been on your local high street for more than 150 years, offering traditional first class service and a wide range of carefully planned savings accounts.

Very few institutions have been in existence for so long and this remarkable feat has only been possible due to the loyal and unwavering support of our members, who are also our customers.

If you like to see someone with the time to share a hello and a smile, we think you’ll love the appeal of our branches.

There’s more of our friendly, high quality service over the phone – you’ll speak directly to a member of staff whether you call a branch or our main number.

We don’t operate a call centre and there are no annoying menus to find your way through. Simply tell us why you’re calling and we’ll put you through in seconds to someone who can help you.

Society Branch Offices and Branch Agents

A full list of the Society’s branch offices across Leicestershire and Warwickshire, as well as details of its branch agents, together with contact telephone numbers and opening hours can be found on Hinckley & Rugby’s website at hrbs.co.uk

Modern savings Traditional service

NOTICE ACCOUNTS

RAINY DAY 60 DAY NOTICE ACCOUNT

Minimum Investment

WITH ANNUAL INCOME WITH MONTHLY INCOME

Gross p.a.* AER** Gross* AER**

£50,000 1.05% 1.05% 1.05% 1.06%

£25,000 0.90% 0.90% 0.90% 0.90%

£10,000 0.80% 0.80% 0.80% 0.80%

£5,000 0.50% 0.50% 0.50% 0.50%

£2,500 0.50% 0.50% - -

This account offers penalty free access to savings, subject to a 60 day notice period. Should you need immediate access to your funds, a withdrawal can be made subject to 60 days’ loss of interest on the amount withdrawn. The minimum withdrawal is £250 and only cheque withdrawals are allowed. The minimum investment is £2,500 and the maximum is £300,000.

EASY ACCESS ACCOUNTS

PREMIUM SAVER EASY ACCESS ACCOUNT

Minimum Investment



£5,000 0.70% 0.70% 0.70% 0.70%

£500 0.70% 0.70% - -

One penalty free withdrawal is available per calendar month. Additional withdrawals can be made subject to 30 days’ loss of interest on the amount withdrawn. The minimum withdrawal is £250 by cash or cheque and the maximum cash withdrawal is £500 per day. The minimum investment is £500 and the maximum is £300,000.

PLAIN SAILING EASY ACCESS ACCOUNT

Minimum Investment



£100,000 0.40% 0.40% 0.40% 0.40%

£50,000 0.20% 0.20% 0.20% 0.20%

£25,000 0.15% 0.15% 0.15% 0.15%

£5,000 0.05% 0.05% 0.05% 0.05%

£25 0.05% 0.05% - -

Plain Sailing gives you immediate access to your money. You can withdraw up to £500 in cash per day or any amount by cheque. The minimum investment is £25 and the maximum is £300,000.

This account is only available to savers living within our core business area.

AFFINITY ACCOUNTS

HOSPICE AFFINITY SAVINGS ACCOUNT

Minimum Investment Gross p.a.* AER**

£500 0.60% 0.60%

This account pays interest at the above rate to savers and in addition 1% of the average balances held in the account during the previous year will be donated to three local hospices.

LOROS, which cares for patients from Leicestershire and Rutland, Myton Hospice, covering both Rugby and Coventry, and Mary Ann Evans Hospice, based in Nuneaton, will each receive an equal share of the 1% donation each year on 1 December.

The account offers easy access to savings with a minimum investment of £500 and a maximum investment of £300,000. The minimum withdrawal is £250 and only cheque withdrawals are allowed.

CHILDREN’S ACCOUNTS

STARTER 4 TEN CHILDREN’S SAVER ACCOUNT (Issue 3)


£1,000 2.05% 2.05%

£10 1.80% 1.80%

Available to young savers under the age of 18. A Starter 4 Ten can be opened and operated by a young saver or in the name of a parent or guardian on behalf of the young saver. It can be opened with as little as £10 and offers immediate access to your money. The maximum investment is £10,000. Withdrawals can be made at any time by cash or cheque and the maximum cash withdrawal is £500 per day.


TAX FREE SAVINGS ACCOUNTS

7 DAY NOTICE CASH ISA


£500 0.70% 0.70%

This account offers tax free savings. Minimum investment is £500 and the maximum is £15,240 in a tax year. Full details on subscription limits can be found in our separate 7 Day Notice Cash ISA brochure. This account offers penalty free access to savings, subject to a 7 day notice period. Withdrawals can be made by cash or cheque and the maximum cash withdrawal is £500 per day.

For eligible investors aged 18 or over the annual ISA subscription limit in this tax year is £15,240. The limit for investors aged 16 and 17 (who can only subscribe to a Cash ISA) is £15,240. Up to £15,240 of the allowance can be saved in a Cash ISA with Hinckley & Rugby or split between a Cash ISA, a Stocks and Shares ISA (with another provider) or an Innovative Finance ISA (with another provider).

You must be at least 16 years of age to open an ISA and must be resident in the UK for tax purposes. Investors must not subscribe to more than one Cash ISA account in any given tax year. Interest is paid annually on 5 April or closure.

Details of any currently available Fixed Rate Cash ISAs can be found on the Society’s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society’s branches.

DEPOSIT ACCOUNTS

TREASURER’S DEPOSIT ACCOUNT

This account is a deposit account (for clubs, societies and charities) and does not give membership rights with Hinckley & Rugby Building Society. The minimum investment is £25 and the maximum is £300,000. You can have immediate access to your money subject to branch and agency withdrawal limits.

The interest rates are the same as for our Plain Sailing Easy Access Account. There is no monthly income option available on this account .


OTHER ISSUES

BANK BASE RATE TRACKER EASY ACCESS ACCOUNT


£5,000 0.25% 0.25%

EASY ACCESS STARTER ACCOUNT


£10 0.50% 0.50%

* Gross Rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax Liability.

** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year (or monthly as the case may be).

FIXED RATE ACCOUNTS

Details of currently available accounts (including any ISAs) can be found on the Society’s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society’s branches.

POSTAL ACCOUNTS

Details of currently available accounts, including any special postal accounts, can be found on the Society’s website at hrbs.co.uk or by calling our dedicated postal helpline on 01455 894062.

BUSINESS ACCOUNTS

Details of currently available accounts can be found on the Society’s website at hrbs.co.uk, by calling our business helpline on 01455 894060 or by visiting one of the Society’s branches.

SOLICITOR ACCOUNTS

Details of our Solicitors Undesignated Client Account can be found on the Society’s website at hrbs.co.uk, or by calling our business helpline on 01455 894060.

ACCOUNTS NO LONGER MARKETED

Details of these accounts can be found on the Society’s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society’s branches.

NOTESThis leaflet set out current interest rates and gives brief details of our accounts and must be read in conjunction with our ‘Savings Account Terms and Conditions’ booklet and with the specific brochure relevant to the account you choose to open or have already opened.

These rates are correct at the date of going to press. Any changes in interest rates will be advertised on a notice in our branches and in the Leicester Mercury and the Coventry Evening Telegraph within three days of the change. Some customers will also receive a personal notification of the change. Interest rates are available at any time on request on our helpline 01455 251234 or you can find them on our website at hrbs.co.uk

When you pay a cheque into one of the Society’s branches or agencies our normal working practice is to allow withdrawals from the start of the sixth business day after the day of deposit, subject to the special terms applicable to your account. By the end of this day you can be certain that the money is yours and cannot be reclaimed without your permission, provided that you are not knowingly a party to fraud. Up until the end of day six a cheque may still bounce and the money can be reclaimed from your account.

Funds are available for immediate withdrawal for all other types of deposit, subject to the special terms applicable to your account.

For cheque receipts, interest is paid from the day after the cheque is deposited with us. For cash and automated credits, interest is paid from the day of deposit.

The day of deposit is the day it is paid in at a branch or agency or is received by us in the post, subject to our current terms and conditions. Business day means a day other than a Saturday, Sunday or Bank Holiday.

We do not allow payments to be made from your savings account by direct debit or standing order. Maximum cash withdrawal limit is £500 per day per account. Larger amounts can be withdrawn by cheque.

Interest is paid annually on 1 December (except for ISA accounts). For some accounts you can have your interest paid monthly if you invest £5,000 or more.

Notes, Terms & Guidelines

Interest Rates for Savers

PERSONAL SAVINGS ALLOWANCEIf you are a basic rate taxpayer, since 6 April 2016, you have had a £1,000 Personal Savings Allowance (£500 if you are a higher rate taxpayer). This means most people no longer pay tax on their savings income. Since 6 April 2016, no tax has been deducted from interest paid on non-ISA savings accounts. Interest from ISAs does not count towards your Personal Savings Allowance because it’s already tax free.

If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.

Please ask for a copy of A guide to the Personal Savings Allowance provided by HM Revenue & Customs for further details.

THE SOCIETY’S CHARGES£10 when a cheque receipt or direct debit is returned unpaid

£5 for providing a duplicate statement for each year prior to the current financial year

£25 for telegraphic transfer of funds from an account (CHAPS fee)

£10 for stopping a cheque

£10 for a subject access request (Data Protection Act)

£10 to replace a lost passbook

£10 to request a copy cheque

£10 to recall a standing order payment

£25 administration charge for transfer of ISA account to another financial institution

These charges may change in the future. Any change will be made in March of each year. You will be told about the charges at any time you ask our staff and before you use the service unless it relates to an unpaid cheque or recalled direct debit payment. There may be other taxes or costs that are not paid through us or charged by us.

TRANSACTION LIMITSAny cash withdrawal is limited to £500 per day for security purposes.

To reduce queuing time and to maintain our high level of customer service please note our limits on certain types of transactions.

Withdrawals per day per account

A maximum of 5 withdrawals.

Receipts per day per account

A maximum of 10 cheque deposits.

A maximum of £3,000 in notes deposited.

A maximum of £20 in coins deposited (all properly bagged - no more than five bags).

The Society will continue to accept coin deposits above these limits from charities and young savers but you will be asked to help us to help the rest of our customers by counting and bagging your change in advance and avoiding peak times if possible.

GUIDELINES ON WRITING CHEQUESTo protect against fraud, when you are paying a cheque into a building society or bank, please do not make the cheque out simply to that organisation.

Adding further details, such as the name of the person to whom the money is being paid, in the payee line, will protect you and meet the rules. For example, when paying a cheque to the Society, fill in the payee line with Hinckley & Rugby Building Society A/c J Smith.

To protect your account against fraud, you should also draw a line through unused space on the cheque so that unauthorised people cannot add extra numbers or names.

DEPOSIT GUARANTEE SCHEMEHinckley & Rugby Building Society is covered by the Deposit Guarantee Scheme. Please ask for a copy our Deposit Guarantee Scheme Information Leaflet for full details.

Paying into your savings account using online or mobile bankingPaying funds into your account is easy and can be done directly from your bank current account using online or mobile banking. To do so you will need the Society’s bank account number 81228218 and sort code 40-24-19, using your Hinckley & Rugby savings account number (all 11 digits) as your payment reference.

You can also easily make regular monthly investments by setting up a standing order from your bank account using the same details.

We have no shareholders – as a mutual we are owned by all of our members equally – and any profit we make is reinvested into improving the service and products we offer to you.

How refreshing

Need a different kind of savings account?

Check out these Hinckley & Rugby accounts:

Easy access accounts pay in and withdraw your money when you need to

Notice accounts earn a better rate of interest as a reward for telling us when you want to make a withdrawal

Savings bonds offering fixed and variable rates of interest for a set term

ISA accounts take advantage of your tax-free ISA allowance

Young saver accounts specially designed accounts for savers under the age of 18

Postal accounts operate your account from your own home using first class post

Affinityaccounts save while supporting a worthy cause

Business accounts special accounts designed for modern businesses

To find out more about these accounts, simply pick up a leaflet in your local branch, visit our website at hrbs.co.uk or call us on 0800 434 6343.

Principaloffice:Upper Bond Street, Hinckley,Leicestershire LE10 1DGtel: 01455 251234 fax: 01455 618506web: hrbs.co.ukTo help maintain service and quality, some telephone calls may be recorded and monitored.

The Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.The Society’s registration number is 206043.

2/11 - 01/17

Scan here to learn more about our accounts at hrbs.co.uk

INTEREST RATES FOR SAVERS · £10,000. Withdrawals can be made at any time by cash or cheque and...

Documents

Transcript of INTEREST RATES FOR SAVERS · £10,000. Withdrawals can be made at any time by cash or cheque and...