Lifestyle Notice 28
Effective from 23rd July 2008
Up to 6.50% Gross p.a.*/AER Variable
Our Lifestyle Notice 28 account offers a competitive rate of interest in return for giving 28 days notice to make a withdrawal or close the account. This account offers a range of annual, monthly and deferred interest payment dates, which is ideal for people looking to plan their tax affairs.
The Lifestyle Notice 28 account offers a tiered variable rate of interest. Additional deposits are accepted and higher balances are rewarded with higher rates of interest.
| Minimum investment | Gross p.a.* | AER* |
|---|---|---|
| £100,000 - £1,000,000 | 6.50% | 6.50% |
| £25,000 - £99,999.99 | 6.30% | 6.30% |
| £5,000 - £24,999.99 | 6.25% | 6.25% |
| Minimum investment | Gross p.a.* | AER* |
|---|---|---|
| £100,000 - £1,000,000 | 6.30% | 6.49% |
| £25,000 - £99,999.99 | 6.10% | 6.27% |
| £5,000 - £24,999.99 | 6.05% | 6.22% |
- Minimum investment £5,000.
- Maximum investment £1,000,000 per customer.
- Interest paid annually, on 1 January, 30 April, or monthly†.
- 28 days withdrawal notice required.
- Deferred interest option ‡.
- Minimum withdrawal of £1,000 per withdrawal.
- Interest calculated on a daily basis from day following receipt.
- There are no minimum levels for deposits.
- Immediate access or closure on penalty is not permitted.
How do I open an account?
Please take a look at our Opening an account page for details of how to open this account.
Request an Information Pack
If you would like to request more information on this account please use our Information Pack request form.
If the balance on your account falls below the minimum investment, the interest rate will be 0.50% gross p.a./AER*, your account may be closed, unless stated otherwise in the product description.
* Interest is paid gross. The gross rate is the contractual rate of interest payable before the payment of income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Where interest is paid monthly, the AER is the rate which would be achieved if the interest was added to the account each month.
It is your responsibility to advise the appropriate tax authorities of any interest received. All rates are variable except the Fixed Interest Bonds. If no interest payment date is given on the application form, interest will be paid on 1 January.
The European Union Savings Tax Directive, effective 1 July 2005, applies to savings income earned on your account if you are a resident of an EU member state. You must elect how we are to deal with savings income from your account in the application form. Please note that should you fail to indicate your preference, we will deduct retention tax from interest earned on your account after 1 July 2005, in accordance with the Directive.
†All rates are variable. Monthly interest paid on the first working day of the following month. Compounded or transferred monthly interest will be credited on the last day of the current month. Monthly interest can be compounded into the account or paid to your UK or Channel Islands bank account or another Scarborough Channel Islands account.
‡ Deferred interest is calculated on a daily basis and is paid when the account is closed. Deferred interest does not, therefore, offer the potential benefit of interest compounding on a monthly or annual basis. It is your responsibility to make your own decision as to the suitability of this product and the deferred interest option, particularly in regard your tax situation. It is therefore important that you seek your own independent advice as you feel is appropriate. It is also your responsibility to declare the interest earned to the appropriate tax authority. If no interest payment date is given on the application form, interest will be paid on 1 January in each year.
- Scarborough Channel Islands Limited is licensed under the Banking Supervision (Bailiwick of Guernsey) Law, 1994 as amended.
- Scarborough Channel Islands Limited Registered office is Suite 5 North, Town Mills, Rue du Pre, St Peter Port, Guernsey, Channel Islands, GY1 3TR. Registered in Guernsey No. 25871.
- Scarborough Channel Islands Limited is a wholly owned subsidiary of Scarborough Building Society, which is authorised and regulated by the Financial Services Authority (Register Number 206062).