Notice Deposit

This product may be withdrawn at any time.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.
0.15%
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.
30 days
age restriction
Minimum or maximum age you must be to open this account.
none
 

Your savings account

An account for clubs, charities and associations. If you can give us 30 days' notice to access your savings you could benefit from a higher interest rate than our Easy Access Deposit account.

Key features

  • Avaliable for clubs, charities and associations
  • 30 days' notice is needed to make withdrawals that take your balance below £2,000
  • Minimum operating balance: £100

Summary box

Account name

Notice Deposit

What is the interest rate?

The variable rates below apply from 13 March 2017. Interest is calculated daily and paid annually on 31 December.

£100 plus - 0.15% gross / AER

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 Terms and Conditions for Savings Accounts.

What would the estimated balance be after 12 months?

The balance after 12 months on an initial deposit of £1,000 with an interest rate of 0.15% gross/AER (variable) would be £1,001.50.

This estimation is an illustration only and assumes:

  • the account is opened on 1 January
  • there are no additional deposits or withdrawals made
  • interest is paid back into the account
  • there is no change to the interest rate
  • interest is paid gross on 31 December.
How do I manage and open my account?

Our Notice Deposit account is limited to clubs, charities and associations. The account must be opened in the name of the organisation and we will require identification for both the organisation and any signatories that will be named on the account.

The minimum opening amount is £100 and you must keep at least £100 in the account for it to remain open. This means any withdrawals taking your balance below £100 are only allowed when closing your account.

You can pay money in and make withdrawals through the post or in any of our branches. Additional deposits can be made by cash, cheque or standing order. The maximum overall holding is £500,000.

Can I withdraw money?

You are able to make withdrawals without charge or notice where the balance in the account will remain above £2,000 after the withdrawal.

Withdrawals that will cause the balance to fall below £2,00 will be subject to 30 days' loss of interest on the amount of the withdrawal below £2,000, unless you provide us with 30 days' notice.

If your balance is below £2,000 we will require 30 days' notice for any withdrawals. If you fail to give notice the withdrawal amount will be subject to 30 days' loss of interest.

All withdrawals are subject to our daily office limits which are:

  • £500 by cash; and
  • £20,000 by cheque.

Higher amounts can be made available, however we require two days notice, and it is subject to a £2,500 maximum cash withdrawal allowance per day. The minimum amount for a cheque withdrawal is £10.

Additional information

Interest is paid gross (without tax deducted).

You have 14 days from the date of opening to change your mind, if you decide the Notice Deposit account isn't right for you. We will then arrange to close the account and help you find a more suitable savings account with us or return the money to you.

Speak to our Branch Supervisor, Tracey today 0121 557 2551* Contact Us
Our branches 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.

Happy to help you...

  • Open a new savings account
  • Discuss your existing account
  • Answer any savings queries
  • Talk about your savings options

Our savings customers say...

"I've been with the Tipton for over 20 years now and always will be, they give me everything I need from a Building Society and are always happy to help" Mrs Cooke
Savings customer read more

Our savings customers say...

"I was given real peace of mind that my savings would be carefully looked after. I know there is always advice available should I need it and the staff at the Tipton are always there." Mrs Thomson
Savings customer read more