Savings

Would you like to save regularly? You can invest between £20 and £300 every month, tax-free.

• With this non-stakeholder account choose to save an agreed monthly investment of between £20 and £300 and then save that same amount each month by Direct Debit.
• Make 12 consecutive, equal monthly payments and no more than one withdrawal during the year.
• After the 12 monthly payments, you can change your monthly deposit amount. Plus, if your monthly contributions mean you haven't used your Cash ISA allowance in full, you have the option to make one additional deposit each tax year to take your balance up to the maximum allowed under ISA rules.
• Interest will be paid annually by adding it to your account by the first working day after the anniversary of the account being opened.
• If you don't make 12 monthly payments per year or if you make more than one withdrawal per year or close your account, you will incur a 3% interest penalty. The lower rate will apply from when you opened the account or, if the account has been open at least a year, from its last anniversary.
• We'll automatically send you a statement every quarter.

	Annual Interest

	Minimum Balance		AER*		Tax-free*
	£20+		4.85%		4.85%

		The above variable rates are effective from 2 May 2008.

Important Information
Before applying for your account, don't forget to read the Terms and Conditions (including the amendment detailed below) and the Important Legal Information, which includes information regarding cancellation rights.

Amendment to the terms and conditions
Following your feedback, from 1 July 2008 we will no longer be writing to you everytime the interest rate of this account is changed. Please see full details.

Membership Reward
As well as the great rates above, you'll qualify as a member of Britannia, which means cash bonuses with our Membership Reward, subject to scheme rules.

*For an explanation of terms used such as AER, Gross and Net, please see our glossary.

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