Branch Saver (Issue 7) IOM Launched

We are pleased to announce the launch of the seventh issue of our Branch Saver IOM instant access product. This product rewards saving in a disciplined way, with a higher rate of interest paid in a month where no withdrawals are made.

Number of Withdrawals Tier Gross/AER (variable) Gross rate paid in month of withdrawal
One £1 - £5million 0.70% 0.10%
None £1 - £5million 0.75% Not Applicable

The minimum opening balance is £5,000 and the above interest rates quoted are for 12 months, after which the account reverts to Everyday Saver.

A reduced interest rate of 0.10% gross (variable) paid on the full balance in any month a withdrawal is made.

Interest is paid gross, without the deduction of tax. AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

Note: Specific Terms and Conditions apply for each product and apply in conjunction with our General Terms and Conditions for Savings Accounts as well as our Special Terms and Conditions for accounts held with our Isle of Man branch.