loyalty bonus account
Do you want a savings account which rewards you for your loyalty?
Click here for the summary box - key product information for this savings account .
With this savings account, loyalty pays. Our Loyalty Bonus notice account is an exclusive savings account for members who have held another Darlington Building Society savings account or mortgage for at least three years.
As a thank you for your loyalty, we will pay you a bonus of 1% gross* (0.80% net), if you do not make more than one withdrawal from your account during the year. You can open this loyalty savings account with as little as £1 and save up to £100,000. Plus we will give you the same attractive rate of interest even if you just have £1 in your account.
So if you want a notice account which rewards you for your loyalty, take a closer look.
What are the full terms and conditions?
- Account name:
- Loyalty Bonus Account
- Minimum amount to open the account:
- £1.00
- Maximum Investment:
- £100,000.00
- Investment conditions:
- You can make investments at any branch or agency, at any time, up to a maximum of £100,000.
- Withdrawal conditions:
- You can make one withdrawal from your account each year (1 July to 30 June) without losing your annual bonus of 1% gross* (0.80% net). You can give us 30 days' notice to withdraw money from your account without losing interest. If you make an immediate withdrawal or do not give the full 30 days' notice, you will lose 30 days' interest on the amount you withdraw, but you will still earn your annual bonus.
If you choose to make more than one withdrawal each year, you can give us 30 days' notice to withdraw money from your account without losing interest, but you will lose your annual bonus. If you make an immediate withdrawal or do not give the full 30 days' notice, you will lose 30 days' interest on the amount you withdraw and your annual bonus. - Interest payment:
- Interest is calculated on a daily basis and paid on 30 June each year. It can be added to this account, transferred to another Darlington Building Society account or credited direct to your bank account.
If you do not make more than one withdrawal from your account between 1 July one year and 30 June the next year, we will pay you a bonus of 1% gross* (0.80% net), in addition to the interest your investment has earned. - Eligibility:
- To qualify to open a Loyalty Bonus Account, you must have held an account with us for a minimum of three years up to the date the account is opened. You may need to provide proof.
The account can be opened in just your name or in joint names. Only one account can be held at a time. - Notes:
- The interest rates shown below assume that the 1% gross* (0.80% net) no withdrawal bonus has been paid.
Current interest rates
| Amount | Gross * | Gross AER # | Net * |
|---|---|---|---|
| £1+ | 1.20% | 0.20% | 0.96% |
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.
