Regular Saver

This product may be withdrawn at any time.

 
gross/AER
Gross means the contractual rate of interest payable. AER stands for the annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
1.25%
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 access
age restriction
Minimum or maximum age you must be to open this account.
16 years and over
 

Your savings account

Begin your savings journey with our variable rate Regular Saver at 1.25% Gross/AER until 28 February 2022.

Key features

  • No withdrawals until maturity
  • Minimum monthly deposit of £10
  • Maximum monthly deposit of £250
  • No penalties for missed monthly payments
  • You must live in a B, DY, WS or WV postcode to be eligible for this product.

Summary box

Account name

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 10 December 2020:

£10 plus – 1.25% gross / AER variable until 28 February 2022

Interest is calculated daily and paid annually on 31 December and on maturity.

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 after 15 months based on 15 monthly deposits of £250?

The balance after 15 months based on 15 monthly deposits of £250 with an interest rate of 1.25% Gross/AER would be £3,781.06.

This estimation is an illustration only and assumes your account is opened on 10 December 2020 with an initial deposit of £250 and 14 additional monthly deposits of £250.

It assumes that no withdrawals are made, interest is paid gross and compounded to the account on 31 December and again on maturity.

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

How do I open and manage my account?

You must live in a B, DY, WS or WV postcode to be eligible for this product.

Only one Regular Saver account is permitted per customer. After your account is opened, no withdrawals can be made until maturity. Joint accounts may be opened. You must be aged 16 or over to open an account.

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. After your account is opened, no withdrawals can be made until maturity.

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 pay a minimum deposit of £10 per month in to the account. A maximum deposit of £250 per month applies. You can make more than one monthly payment but you must not exceed more than £250 in one calendar month. There are no penalties for missed monthly payments.

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.

We’ll contact you a minimum of 14 days prior to the expiry of the variable rate period to give you details of your maturity options. If we don’t hear from you before maturity, we’ll automatically rollover your account to another account from our savings range which may include a new Variable Rate Savings account. When we write to you we’ll include details of the account we intend to automatically rollover your maturity balance into.

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?

No withdrawals are allowed until the end of the variable rate term.

If you do not wish to rollover your account once it reaches its maturity date, you are able to withdraw the funds within 14 days.

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

Additional information

Interest is paid 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.

You have 14 days from the date of opening to change your mind, if you decide the Regular Saver 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.

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...

  • Confirm our interest rates
  • Talk about your options
  • Discuss your existing account
  • Open your new account

It's easy to get started

When you're ready to open your account simply 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.

Please read our Terms and Conditions for Savings Accounts leaflet and the Deposit Guarantee Scheme Information Sheet before you open your account.

We require all new savings customers to sign any future windfall rights to our Charitable Foundation.


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 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