Community Regular Saver

This product may be withdrawn at any time.

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gross/AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
1.1%
notice for withdrawals
Some of our accounts require you to give notice before you can withdraw money from your account. Further details on the withdrawal restrictions that apply to the account can be found in the section titled - 'Can I withdraw money?' - in the Summary box.
no notice
age restriction
Minimum or maximum age you must be to open this account.
16 years and over
 

Your savings account

Save a little, help a little.

Grow your savings while helping to support local charities. Each year we will donate 0.10% of the average 30 Day Community Notice and Community Regular Saver account balances to the Tipton & Coseley Charitable Foundation. The Foundation provides financial assistance to charitable organisations every year, helping to strengthen community ties and contributing to the health and well-being of local people. Saving has never felt so satisfying.

Key features

  • Minimum monthly deposit of £10
  • Maximum monthly deposit of £500
  • A maximum of two withdrawals may be made each calendar year
  • We will pay the equivalent of 0.10% of the average 30 Day Community Notice and Community Regular Saver account balances on 31st December each year to the Tipton and Coseley Charitable Foundation.

Summary box

Account name

Community Regular Saver

When you're ready to open your account simply download and complete an application form.

What is the interest rate?

The variable rate below applies from 7 January 2019. Interest is calculated daily and paid annually on 31 December.

  • £10 plus – 1.1% gross / AER

If three or more monthly payments are missed the interest rate paid will be reduced to 0.20% gross / AER for the remainder of the calendar year.

When you're ready to open your account simply download and complete an application form.

 

Can Tipton & Coseley Building Society change the interest rate?

We may change the interest rate at any time. Further details can be found in section 7 of our Savings Terms and Conditions.

When you're ready to open your account simply download and complete an application form.

What would the estimated balance be at the end of the term?

This estimation assumes the account is opened on 7 January with an initial deposit of £500 and 11 further deposits of £500 are made on the first of each month with no withdrawals transactions or interest rate changes and interest is then paid gross on 31 December.

Total amount deposited over the 12 months

Estimated balance after 12 months

£6000

£6,035.75


This estimation assumes an initial deposit of £500 is made on 7 January. Five further deposits of £500 are made on the first of each month and six deposits have been missed, there have been no withdrawals or interest rate changes and interest is then paid gross on 31 December.

Total amount deposited over the 12 months

Estimated balance after 12 months

£3000

£3,012.63

These projections are for illustrative purposes only.

 

When you're ready to open your account simply download and complete an application form.

How do I open and manage my account?

Only one account can be opened per customer. Joint accounts may be opened.

The minimum opening deposit is £10. You must have at least £10 in the account to keep it open. Withdrawals taking the balance below £10 are only allowed on closure of your account.

You can pay a minimum deposit of £10 per month in to the account. A maximum deposit of £500 per month applies. You can make more than one monthly payment but you must not exceed more than £500 in one calendar month. If three or more monthly payments are missed the interest rate paid will be reduced to 0.20% gross / AER for the remainder of the calendar year.

You can pay money in at any of our branch offices or through the post. Additional deposits can be made by cash or cheque. You can also pay money into your account by standing order.

Accounts can be opened at any of our branch offices, no appointment is necessary. If you can't get to a branch you can open an account by post, send us your application form and a cheque for your opening deposit.

We can access credit reference agency databases which, in the majority of cases, allows us to prove your identity and address without needing paper-based identification. If we require further proof we'll let you know. Please click here to see our list of acceptable identification.

 

When you're ready to open your account simply download and complete an application form.

Can I withdraw money?

A maximum of two withdrawals may be made each calendar year without notice or charge.

Having made your second withdrawal, no further withdrawals including account closure are allowed until the following calendar year.

 

When you're ready to open your account simply download and complete an application form.

Additional information

Interest is paid gross (without tax deducted).

Interest rates explained:

  • Gross means the contractual rate of interest payable.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

If you decide within 14 days of opening your account that it isn’t right for you, you can have your money back without charge. We’ll arrange to close the account and return your money or transfer it to another one of our savings accounts.

 

When you're ready to open your account simply download and complete an application form.

Gayle, from our savings team is happy to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Here to help you...

  • Open a new account
  • Discuss the best account for you
  • Help with your existing accounts
  • Answer any of your queries

Lets get started

If you're ready to open an account you'll need to download and complete an application form.

Please post your completed form to The Tipton & Coseley Building Society, 70 Owen Street, Tipton, West Midlands, DY4 8HG, and remember to include a cheque payable to yourself.

Alternatively, you can open an account at any of our branches.

Make sure you also read our Terms and Conditions for Savings Accounts leaflet and the Deposit Guarantee Scheme Information Sheet.

All new savings customers must sign any future windfall rights to our Charitable Foundation.


Our savings customer say...

"Whenever I visit Tipton & Coseley I'm dealt with quickly, on a one to one basis making each visit convenient and ideal." Mrs Cooke
Savings customer read more

Our savings customer say...

"The staff are really friendly and welcoming and always ask how I am, I feel like I can have a chat with them." Mrs Thomson
Savings customer read more