60 Day Notice

Interest Rate: 



Interest is payable monthly on the last day of the month and must be transferred to another account held by you with the Society. 

Can Swansea Building Society change the interest rate?
Interest rates are variable and may be amended at any time. We will give you 14 days written notice by post of any proposed change in our interest rates. They will also be posted on our website at www.swansea-bs.co.uk or you may telephone our Investment Department on 01792 739100. Details of other Swansea Building Society savings accounts interest rates are available in our Range of Savings Accounts leaflet.
What would the estimated balance be after 12 months?
Projected Balance = £5,000.00*
*Based on a deposit of £5,000 with no additional deposits, withdrawals or changes in interest rate within the 12 month period. On this account interest earned must be transferred out of the account and therefore the balance would remain constant. The estimated amount of interest transferred to your other account(s) would be £12.50.
How do I open and manage my account?
This account is no longer available for new account applications.  Minimum operating balance is £1.  The maximum investment is £85,000 for an account held in a sole name or £170,000 for an account held in joint names where an account was opened after 1 January, 2017. Deposits can be made by cheque, electronic bank transfer, transfer from another account held with the Society (subject to the Terms and Conditions of that account) or cash (Cash deposits are limited to £3,000 per customer per day).
Can I withdraw money?
Minimum withdrawal is £1 (or less if closing). Withdrawals can only be made at the expiry of 60 days from receipt of your formal notice to the Society to withdraw. Your notice must specify the amount to be withdrawn.  Minimum operating balance to be held in this account is £1.  Access to monies before the required 60 days notice will only be considered in exceptional circumstances.
Additional information

For General Terms and Conditions applicable to this account see “General Terms and Conditions for the operation of Savings Accounts" available from our branches or online at www.swansea-bs.co.uk. Interest is paid gross without tax deducted. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. Please note, the tax treatment and rate of interest payable depend on the individual circumstances of each customer and may change in the future.  Statements are sent out 31 December annually.

The maximum balance across all accounts held with the Society is £85,000 for a single customer or £170,000 for joint customers where the customer first opened an account with the Society on or after 1 January, 2017. Where excess monies are received, such monies will be returned using the same method by which they were deposited.