monthly supersaver
Do you want to earn up to 8% gross interest by saving regularly?
Our Monthly Supersaver account is a one year regular savings account that offers you a remarkable variable interest rate of 8% gross*/AER. You can vary your monthly investments to any amount between £50 and £250.
This regular savings account helps you to save for life's important events. So if you are saving to buy a new car, for a holiday or Christmas, open a Monthly Supersaver account and watch your savings grow. Plus if you do need to access your money early, you can close the account at any time but you will lose 45 days' interest on the balance in your account.
So if you want monthly savings account which pays 8% gross*/AER (variable), take a look at the full terms and conditions.
What are the full terms and conditions?
- Account name:
- Monthly Supersaver
- Term:
- 1 Years
- Minimum amount to open the account:
- £50.00
- Investment conditions:
- You can vary the amount and number of investments into the account each month, providing you invest at least £50 and your total monthly investments are not more than £250 each month. A new month for investments starts on the 1st of each calendar month.
You can make investments at any branch or by standing order. Automatic monthly transfers from an existing Darlington Building Society account are not allowed, though one-off transfers are permitted.
If you miss one monthly investment or if you pay in less than £50 in any one calendar month, we will switch the account to our Instant Access or similar account, in your name. We will then work out interest at the rate applicable for that account. - Withdrawal conditions:
- Partial withdrawals from the account are not allowed.
If you need access to your money, you can close the account at any time but you will lose 45 days' interest on the total balance in your account. This means that if your account is closed early, you may not receive back all of the money you invested. - Interest payment:
- We work out interest every day and add it to the account when it is closed.
- Eligibility:
- You can only hold one Monthly Supersaver account in your name.
Joint accounts and accounts held in trust for someone else are not allowed). - Maturity:
- After one year, the account will be closed without incurring any interest penalty and the balance, including any interest you have earned will be transferred to our Instant Access or similar account in your name. We will then work out interest at the rate applicable for that account.
Current interest rates
| Amount | Gross * | Gross AER # | Net * |
|---|---|---|---|
| £50+ | 7.50% | 7.50% | 6.00% |
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 each year.
