flexisaver regular savings account
Do you want a regular savings plan at a pace to suit you?
Click here for the summary box - key product information for this savings account.
The Flexisaver account is a five year regular savings account that offers you remarkable flexibility. You only need £10 to get started and you can then vary your monthly investments to any amount between £10 and £500.
For example: If you invest £500 per month for 5 years, a total of £30,000 will be paid into your account. At prevailing rates of interest you will earn approximately £752 interest (gross). Interest compounded.
Our flexible regular savings account helps you to save for life's important events. And because you can make one withdrawal each year, you can choose when to access your savings. So if you are saving to buy a new car, for a holiday or Christmas, open a Flexisaver regular savings account and watch your savings grow at a pace to suit you.
What are the full terms and conditions?
- Account name:
- Flexisaver Regular Savings Account
- Term:
- 5 Years
- Minimum amount to open the account:
- £10.00
- Investment conditions:
- You can vary the amount and number of investments into the account each month, providing you invest at least £10 and your total monthly investments are not more than £500. You can make investments at any branch, by standing order or by transfer from an existing Darlington Building Society account.
- Withdrawal conditions:
- You can make one withdrawal each year (1st July to 30 June), providing the balance in the account doesn't fall below £10.
If you want to make a further withdrawal you must close the account and you will lose 45 days' interest on the balance. - Interest payment:
- Interest is caclulated on a daily basis and paid on 30 June each year. It can be added to your flexisaver account or transferred to another Darlington Building Society account.
- Eligibility:
- The account can only be held in single names and only one account can be held at a time.
- Maturity:
- Five years from opening, the account must be closed and the balance will be transferred to the Society's Instant Access account.
Current interest rates
| Amount | Gross * | Gross AER # | Net * |
|---|---|---|---|
| £10+ | 0.58% | 0.58% | 0.46% |
| £5000+ | 0.83% | 0.83% | 0.66% |
| £15000+ | 1.03% | 1.03% | 0.82% |
Please make sure that you have read and fully understand the full terms and conditions before you decide to open this account. If you need any further information please telephone 01325 366366, email sales@darlington.co.uk or contact your local branch.
You should also read our general terms and conditions which you can download to the left of this page and which also form part of the terms and conditions of this account.
We are part of the Financial Services Compensation Scheme.
* - The gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law, and the net rate is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate. Interest will be payable net after the lower rate of income tax has been deducted or, subject to the required certification, gross. Where the tax deducted exceeds an investor's tax liability (if any), a claim may be made to the Inland Revenue for repayment of tax. For individuals whose income falls within the lower or basic rate bands, the tax deducted will match their liability to tax on the interest and they will have no more tax to pay on it. Individuals who are liable at the higher rate of income tax of 40% will have to pay an additional tax on the interest to cover the difference between the tax deducted and the higher rate of tax due.
# - A.E.R. stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
