Branch Saver Account

Current Rates
Account balance Gross* Net AER**
£1 and over (excluding 1.25% bonus) 1.00% 0.80% 1.00%
£1 and over (including 1.25% bonus) 2.25% 1.80% 2.25%

MAKE YOUR MONEY WORK HARDER

  • Save from as little as £1 (and up to £1 million)
  • Bonus paid in year 1
  • Choice of annual or monthly interest
  • Must be new money from a non N&P account

MANAGING YOUR ACCOUNT IS EASY

  • Withdrawals without notice or loss on interest
  • Branch Saver can only be opened in branch but postal transactions allowed thereafter
  • Limited facilities available through internet banking
  • Only one account per person over the life of the product.

COULD BE IDEAL IF YOU…

  • Want easy access to your savings
  • Want a higher rate without tying your money up
  • Like to open and operate your savings account at a branch
  • Can bring money held elsewhere to save in Branch Saver

* Interest will be paid gross (that is before the deduction of income tax) to non-taxpayers subject to eligibility and the required registration. Otherwise interest will be paid after deduction of income tax at the appropriate rate. Please note that gross interest can only be paid to customers aged 16 or over if they are the named account holder.

** Net rates (that is after the deduction of income tax) shown are for illustrative purposes only. The interest you earn on this account will currently be taxed at the rate of 20%.

*** AER means Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.  

MINIMUM BALANCE

  • To keep your account open, you need to keep a balance of £1.

MAXIMUM INVESTMENT

  • The most you can have in your account is £1 million.

INTEREST

  • Interest on your savings is paid on the anniversary of account opening. Alternatively, you can  choose to have interest paid out monthly.

SPECIAL BONUS

  • Provided you account remains open, you will earn a 1.25% bonus in the first year. This is paid on the anniversary of account opening.   

OUR SATISFACTION PLEDGE

  • At N&P, we understand how important it is for you to be satisfied with your investment accounts. If you open any new investment account and, within 14 days, you decide that it does not meet your requirements, we will be happy to transfer the balance to another N&P account. This is called a 'cooling off' period.  Alternatively, we will return your money to you without any charge or notice being required. Any transfer or refund will be subject to the relevant funds having cleared i.e. a period of at least four days(excluding Saturdays, Sundays and public holidays) must be allowed for the clearance of deposited cheques.

ACCOUNT TYPE

Key Product Information
Summary Box
Key Product Information for our Easy Plus Account
Account Name Branch Saver
Interest rates (GROSS/AERs) Variable rate.
Please see Features & Benefits tab for current interest rate.
Tax Status Interest is paid net. Gross interest can be paid subject to eligibility and required registration.
Conditions for bonus payments There is an introductory 1.25% bonus for the first 12 months (calculated on the average daily balance) and paid back to the account on the anniversary of account opening. If the account is closed at any time other than on the anniversary date of account opening, no bonus or part bonus will be paid for that year.
Withdrawal arrangements Easy access without notice or loss of interest.
Access This account must be opened at a branch. It can be operated by branch or post, and limited facilities are available online via internet banking.

Read our General Savings and Investments Terms and Conditions.

Read our Savings Fact Sheet.