emerald account for over 55s
Do you want an instant access account especially for over 55s?
Click here for the summary box - key product information for this savings account .
The Emerald instant access savings account could be for you if you are aged 55 or over and you have £2,000 or more to invest. The account is instant access which means you have easy access to your money without having to give notice to make a withdrawal.
Plus, if you would like a regular income from your savings you can choose to have your interest paid monthly. And to make access to your interest even easier, it can be paid to another of our savings accounts or direct into your bank account each month.
We've tried to think of everything so you can be sure your money is in a safe home. If you're aged over 55 and think this account may be for you, please read on for the full terms and conditions of this instant access savings account.
What are the full terms and conditions?
- Account name:
- Emerald Account for over 55s
- Minimum amount to open the account:
- £2,000.00
- Maximum Investment:
- £250,000.00
- Investment conditions:
- You can make investments or withdrawals at any branch or agency. The maximum balance you may have is £250,000.
- Withdrawal conditions:
- You can make withdrawals at any branch or agency, in line with their withdrawal limits. You do not have to give us notice to withdraw money and you will not lose any interest. If the balance in your account falls below £2,000 you will earn interest at a rate equivalent to the £1+ band of our instant access account for the period of time the balance remains below £2,000.
- Interest payment:
- We work out interest every day and pay it on 31 December. It can be paid either monthly or annually at the same rate. Annual interest payments can be added to this account, transferred to another Darlington Building Society account or into your bank account. Monthly interest payments can be transferred to another Darlington Building Society account or into your bank account.
- Eligibility:
- You can open this account in just your name or in joint names. Both account holders must be aged 55 and over.
Current interest rates
| Amount | Gross * | Gross AER # | Net * |
|---|---|---|---|
| £2000+ | 0.40% | 0.40% | 0.32% |
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.
