Account name
60 Day Notice Account.
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 22 April 2022:
- £1,000 - £9,999.99 - 0.75% Gross / AER
- £10,000 - £24,999.99 - 0.80% Gross / AER
- £25,000 - £49,999.99 - 0.85% Gross / AER
- £50,000 plus - 0.90% Gross / AER
Interest is calculated daily and paid annually on 31 December.
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 interest rates at any time. Further details can be found in section 7 of our Terms and Conditions for Savings Accounts booklet.
When you're ready to open your account simply download and complete an application form.
What would the estimated balance be after 12 months based on a £1,000 deposit?
The balance after 12 months on an initial deposit of £1,000 with an interest rate of 0.75% gross / AER (variable) would be £1,007.50.
The balance after 12 months on an initial deposit of £10,000 with an interest rate of 0.80% gross / AER (variable) would be £10,080.00.
The balance after 12 months on an initial deposit of £25,000 with an interest rate of 0.85% gross / AER (variable) would be £25,212.50.
The balance after 12 months on an initial deposit of £50,000 with an interest rate of 0.90% gross / AER (variable) would be £50,450.00.
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; and
- interest is paid gross on 31 December.
When you're ready to open your account simply download and complete an application form.
How do I open and manage my account?
You can open an account if you are aged 16 or over. The minimum opening deposit is £1,000, the maximum balance is £100,000 per customer, and the maximum overall holding per customer is £500,000.
For opening deposits made by electronic payments, you must send your initial deposit within 10 working days, or the account will be automatically closed.
You can open an account at any of our branch offices without the need to make an appointment. Alternatively you can open an account through the post by sending us a completed application form along with a cheque for your initial deposit.
You must have at least £1,000 in the account to keep it open. Withdrawals taking the balance below £1,000 are only allowed on closure of your account.
You can pay money in or draw money out 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.
Joint accounts may be opened. This account is limited to one per customer.
You can view your balance and recent transactions on the Tipton App, available in the Google Play Store and Apple Store.
When you're ready to open your account simply download and complete an application form.
Can I withdraw money?
Withdrawals require 60 days’ notice and are limited to three in any calendar year. No early access is available. Upon making your third withdrawal, no further withdrawals, including account closure, are allowed until the following calendar year. Withdrawals can be made by cheque and must be a minimum of £100. No cash withdrawals or internal transfers are allowed. Withdrawals taking your balance below £10,000, £25,000 and £50,000 will result in a lower rate of interest, as noted in the ‘What is the interest rate?’ section above.
When you're ready to open your account simply download and complete an application form.
Additional information
Interest is paid without tax deducted.
If you decide within 14 days of opening, that the account you’ve chosen 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 to switch your funds to another of our savings accounts.
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.
Issued date: 22 April 2022
When you're ready to open your account simply download and complete an application form.
