• 4.75% GROSS / 4.85% AER (variable) - from 01.12.2023.
• Interest is payable monthly on the last day of the month and can be paid to the account or transferred to another account held by you with the Society or to another bank or building society account.
• Interest is paid gross without tax deducted. If the total amount of interest you earn exceeds your Personal Savings Allowance then you may have to pay tax directly to HMRC. For more information visit www.gov.uk and search ‘Personal Savings Allowance’.
• AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
• Please note, the tax treatment and rate of interest payable depend on the individual circumstances of each customer and may change in the future.
• The interest rate for this account will be displayed via our website at www.swansea-bs.co.uk for customers to access and monitor from time to time as required.

• Yes - Interest rates are variable which means the interest rate can go up and down and may be amended at any time.
• We will give you 14 days written notice by post of any proposed change in our interest rates. They will also be posted on our website at www.swansea-bs.co.uk or you may visit or telephone any one of our branch offices detailed on the reverse of this leaflet. Details of other Swansea Building Society savings accounts interest rates are available in our ‘Range of Savings Accounts’ leaflet which is available by visiting or telephoning one of our branch offices or online here.
• To understand why rates may be reduced please refer to our General Terms and Conditions for the Operation of Savings Accounts. 

• Projected Balance = £1,048.55 (This figure is for illustration purposes, does not take into account the individual circumstances of the customer and is based on a deposit of £1,000 with no additional deposits, withdrawals or changes in interest rate within the 12-month period.)

• To open an account, you must be resident in Wales. Simply call at one of our branches or complete an application form and post it to us along with a cheque made payable to '(your name)’. For further details on our identification process please see our Proving Your Identity leaflet available from branch offices or online here.
• The minimum investment is £1. The maximum balance that can be held across all accounts held with the Society is £1m*, or £500k where the customer first opened an account with the Society on or after 01.03.23.  *Please note that where an existing customer(s) who opened an account on or before 28.02.23 has an aggregate savings balance in excess of £500k, they will not be allowed to deposit further monies where their combined balances are in excess of these amounts.
• Deposits can be made by cheque, electronic bank transfer, transfer from another account held with the Society (subject to the Terms and Conditions of that account), standing order instruction from another UK bank / building society account or cash (cash deposits are limited to £3,000 per customer per day).
• Manage your account in branch, Email, post or online via secure message (subject to Swansea Online Account eligibility criteria, available when you click ‘Register Now’).

• Withdrawals can only be made at the expiry of 90 days from receipt of your formal notice to the Society to withdraw. Your notice must specify the amount to be withdrawn and can be made by visiting us at a branch office. Alternatively, you may send us your signed written instructions by post, by Email or via our online service Swansea Online using the secure messaging service.
• Minimum withdrawal is £1 (or less if closing the account). Minimum balance to be held in this account is £1.
• The maximum cash withdrawal per customer per day is £1,000.

• For General Terms and Conditions applicable to this account see “General Terms and Conditions for the Operation of Savings Accounts" available from our branches or online here.
• The Society is part of the Financial Services Compensation Scheme (FSCS). Details of the scheme and who is covered by it can be found at www.fscs.org.uk.
• Service charges and costs may apply to your account. These are outlined in our Savers Tariff. 
• In certain circumstances we may refuse an instruction to operate an account. These circumstances are outlined in our General Terms and Conditions for the Operation of Savings Accounts. 
• The account is for personal use, not for business, unless it’s one of our special accounts for organisations.

1. Account opening and Investment Limits:
To open an account, the applicant(s) need to be aged 18 and over. The minimum investment is £1. The maximum balance that can be held across all accounts held with the Society is £1m*, or £500k where the customer first opened an account with the Society on or after 01.03.23.  *Please note that where an existing customer(s) who opened an account on or before 28.02.23 has an aggregate savings balance in excess of £500k, they will not be allowed to deposit further monies where their combined balances are in excess of these amounts. 

2. Further Investment:
You may add to your savings at any time, just call into your local branch with your deposit. If it is more convenient you can post the deposit, make a payment via electronic bank transfer or save through a standing order from a UK bank or building society account. *Please note that where an existing customer(s) who opened an account on or before 28.02.23 has an aggregate savings balance in excess of £500k, they will not be allowed to deposit further monies where their combined balances are in excess of these amounts.

3. Withdrawals:
You can withdraw from your account by giving 90 days notice subject to Society limits. Details of our cash, cheque and electronic payment withdrawal limits are displayed in our branch offices and on our website.

4. Interest:
Interest is variable and calculated on a daily basis on the balance in the account, payable on the last working day of the calendar month and can be paid to the account or transferred to another Swansea Building Society account or to a UK Bank or Building Society account held by the account holder(s). Where the amount of interest to be paid is less than £5 and is to be paid away from the account, this will carry forward to the last working day of the following month for payment until the amount to be paid is £5 or greater. Statements are sent out 31 December annually.

5. Terms and Conditions:
These specific Product Terms and Conditions apply to this account in addition to our General Terms and Conditions for Savings Accounts. Where there is any inconsistency between the General Terms and Conditions for Savings Accounts and the specific Product Terms and Conditions, the specific Product Terms and Conditions will apply.