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Easy Monthly Saver
You can’t beat the feeling of watching your savings grow and flourish. And much of that pleasure comes from planning what you might spend it on. So whether you’ve got a holiday, anniversary, wedding or the whole of your future in mind, you know where you are with an Easy Monthly Saver account.
With an Easy Monthly Saver account, you choose exactly how much you want to save each month. It could be as little as £20 if you like. Once your preferred method of monthly payment has been set up your savings will keep building until you're ready to start spending. You're free to change your monthly payments at any time. It couldn’t be easier.
| Summary Box Key Product Information for our Savings Account |
|
|---|---|
| Account Name | Easy Monthly Saver |
| Interest Rates (AERs) | The Interest rate payable is variable. The current interest rate# is 2.10% AER*/Gross* 1.68% net*. The minimum balance for this account is £20.
Please be aware that the terms of the account require 12 monthly payments; if fewer than 12 payments are received your interest rates will reduce by 2% for that year. |
| Tax Status | Interest is paid net* of basic rate tax |
| Condition for bonus payment | No bonus payments exist for this account |
| Withdrawal arrangements | You can make one withdrawal per anniversary year without affecting your rate of interest. If more than one withdrawal is made, your interest rate will reduce by 2% gross* for that year. Withdrawals will be made by cheque payable to the account holder or by transfer to a nominated Britannia account |
| Access | Branch and by post |
Features & Benefits
- Minimum investment of £20 a month
- Maximum balance of £1,000,000
- Interest and bonus is paid annually into your account on the first working day after the anniversary of your account being opened
- First deposit is paid by cash or cheque
- Statement based account (every three months)
- Can be opened as a joint account
- Lets you pay monthly by Direct Debit, Standing Order, or internal transfer to make saving easy
#The above variable interest rates are effective from 1 November 2009.
If you invested £125 per month into an Easy Monthly Saver you would earn £17.12 in interest gross* paid on the account's anniversary. This assumes you fully comply with the product's terms and conditions and make no withdrawals and no additional deposits, and interest rates remain unchanged.
*For an explanation of terms such as AER, Gross and Net, please see our glossary 
.
Britannia is a trading name of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS) that would pay compensation to eligible customers in the unlikely event of the Bank becoming insolvent. Find out more
