Pyramid 90
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | Pyramid 90 | |||
| Interest rates (AERs) | Gross | Net | AER | |
| Annual Income Option | ||||
| £1,000+ | 0.10% | 0.08% | 0.10% | |
| £10,000+ | 0.15% | 0.12% | 0.15% | |
| £25,000+ | 0.25% | 0.20% | 0.25% | |
| £50,000+ | 0.50% | 0.40% | 0.50% | |
| £100,000+ | 0.75% | 0.60% | 0.75% | |
| Monthly Income Option | ||||
| £1,000+ | 0.10% | 0.08% | 0.10% | |
| £10,000+ | 0.15% | 0.12% | 0.15% | |
| £25,000+ | 0.25% | 0.20% | 0.25% | |
| £50,000+ | 0.50% | 0.40% | 0.50% | |
| £100,000+ | 0.75% | 0.60% | 0.75% | |
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements | There are no restrictions on withdrawals, providing a minimum balance of £10,000 remains in the account following any withdrawal. If the balance falls below £10,000 you can withdraw or transfer all or part of your investment providing we receive: - 90 days written notice with no loss of interest; or - 30 days written notice and 30 days loss of interest; or - instant access with 90 days loss of interest |
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| Access | Via branch or post. | |||
These rates apply from 2 April 2009.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Product features
- 90 days notice required for withdrawals where your account balance is below £10,000
- Instant access without penalty if your balance is over £10,000 after withdrawals
- If your account balance falls below £10,000, and you need earlier access to your money you can give 30 days notice and lose 30 days interest, or have instant access and lose 90 days interest
- If your account balance falls below £1,000, you will receive interest at our 'Instant Access Pyramid Share' rate and if you receive interest monthly this may revert to being paid annually
- Save from £1,000 up to £250,000 (please make cheques payable to yourself not Leek United)
- Variable interest
- Interest rates increase as your balance rises
- Pay direct debits from your account
- Choose to have interest paid annually or monthly
Terms and conditions relating specifically to this account must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts.
Download an application form PDF - please complete both sides of the form and return.
Please make cheques payable to yourself not Leek United
Details of the Financial Services Compensation Scheme can be found in the 'Other Information' section on the left of this page.
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