Branch Saver Account

Current Rates
Account balance Gross* Net AER**
£1 and over (excluding 1.25% bonus) 1.00% 0.80% 1.00%
£1 and over (including 1.25% bonus) 2.25% 1.80% 2.25%

MAKE YOUR MONEY WORK HARDER

  • Save from as little as £1 (and up to £1 million)
  • Bonus paid in year 1
  • Choice of annual or monthly interest
  • Must be new money from a non N&P account
  • Variable rate

MANAGING YOUR ACCOUNT IS EASY

  • Withdrawals without notice or loss on interest
  • Branch Saver can only be opened in branch but postal transactions allowed thereafter
  • Limited facilities available through internet banking
  • Only one account per person over the life of the product.

COULD BE IDEAL IF YOU…

  • Want easy access to your savings
  • Want a higher rate without tying your money up
  • Like to open and operate your savings account at a branch
  • Can bring money held elsewhere to save in Branch Saver
How can I open a Branch Saver account?

It's easy.

You must open a Branch Saver account by calling into any branch. Once your account is opened, you can then save by paying into your account in any branch or sending cheques to the address below:

Norwich and Peterborough Building Society
Postal Investments Unit
FREEPOST PE 104
Peterborough
PE2 6BR

Remember - when you pay a cheque into your account, don't make the cheque out simply to N&P. You should include full account details including your account number and the name of the account holder the cheque will need to be paid to. It's also important to draw a line through the unused space on the cheque so that extra information or numbers can't be added afterwards.

You can also arrange a standing order with your bank or building society for regular payments to be made into your Branch Saver account, or you can transfer money into your Branch Saver from another institution at any time. Just quote your Branch Saver account number and sort code.

Can I transfer other money held with N&P into my Branch Saver?

No. Transfers from other N&P accounts (including N&P current accounts) are not allowed. Only non-N&P money can be deposited into Branch Saver 

Can I open more than one Branch Saver account?

No. Only one account per person over the life of the product is allowed. You may either hold a joint or single account, but not both. 

What are the conditions for the bonus payment for Branch Saver?

You'll be paid an introductory bonus for the first 12 months, paid on the first anniversary of opening your account. If the account is closed at any time other than on the anniversary date of account opening, no bonus or part bonus will be paid for that year.

Do I become a member of N&P when I open a Branch Saver account?

Branch Saver is a share account, which makes you a member of the Yorkshire Building Society group of which N&P is a trading name. This means you can join Yorkshire Building Society’s general meetings and you have a vote on what’s decided at them as set out in the Rules of the Society.

Can I open a joint account?

Yes you can. Branch Saver is available in single or joint names, and can be opened on a trustee basis.

When will my Branch Saver account start earning interest?

Cheques paid into an account paying a variable rate of interest will earn interest from the second working day after the day we receive them. Cheques paid into an account paying a fixed rate of interest will earn interest from the day we receive them.

Money paid into your account in cash or by Bankers' Automated Credit will earn interest from the day we receive it. Interest is then paid for each full day your money is invested, and will be added to your account in January each year (unless otherwise stated).

Your money will earn interest up to, but excluding, the day you withdraw it.

What are the rules on withdrawals?

You can take money out of your account at any time without notice or losing interest.

Can I manage my account online?

Yes you can, subject to you being 16 years old or over.

Online you are able to:

  • View up-to-the-minute balances on all your N&P savings and current accounts whenever you like.
  • Check all payments and withdrawals on your account.
  • Set up and cancel payments (subject to these services being available on your specific account).
  • Transfer funds between your N&P accounts (subject to this services being available on your specific account).
  • Send and receive messages regarding your accounts.

To manage your account online you'll need to register for our online banking facility, you can apply online by clicking here.

The maximum amount you can withdraw online is £10,000 per day.  

Now and again, when carrying out online maintenance, we may have to suspend certain facilities temporarily, so if you find our online service unavailable, please be patient, and do try again later.

For more information on our Internet Banking Service visit our Internet Banking section.

Can I be certain that online banking is absolutely secure?

You can with N&P.

Our online system is extremely robust. It is constantly checked by both internal and external experts. Advanced encryption technology scrambles all sensitive data to provide total confidentiality.

You are given a unique customer number and a 10-character password. When you use the service for the first time you might want to change this password for one that's more easily remembered - but don't write it down or make it too obvious, so that someone else could guess it.

What if I’m unhappy with terms of my account?

Just tell us.

We make it our aim to do the best we can for all our customers. If within 14 day's (7 day's for all Fixed Rate Bond products) you decide that this account is not for you, we will be happy to transfer your money to another N&P account.

Or if you prefer, we will return your money to you without any charge being made, or notice being required.

View All Frequently Asked Questions
 Product Information
Summary Box
Key Product Information for our Branch Saver Account
Account name Branch Saver
Interest rates (GROSS/AERs) Variable rate.
Please see Features & Benefits tab for current interest rate.
Tax Status Interest is paid net. Gross interest can be paid subject to eligibility and required registration.*
Conditions for bonus payments There is an introductory 1.25% bonus for the first 12 months (calculated on the average daily balance) and paid back to the account on the anniversary of account opening. If the account is closed at any time other than on the anniversary date of account opening, no bonus or part bonus will be paid for that year.
Withdrawal arrangements Easy access without notice or loss of interest.
Access This account must be opened at a branch. It can be operated by branch or post, and limited facilities are available online via internet banking.

Read our General Savings and Investments Terms and Conditions.

Read our Savings Fact Sheet.

MINIMUM BALANCE

  • To keep your account open, you need to keep a balance of £1.

MAXIMUM INVESTMENT

  • The most you can have in your account is £1 million.

INTEREST

  • Interest on your savings is paid on the anniversary of account opening. Alternatively, you can choose to have interest paid out monthly.

SPECIAL BONUS

  • Provided you account remains open, you will earn a 1.25% bonus in the first year. This is paid on the anniversary of account opening.   

WHAT IF I CHANGE MY MIND? 

  • At N&P, we understand how important it is for you to be satisfied with your investment accounts. If you open any new investment account and, within 14 days, you decide that it does not meet your requirements, we will be happy to transfer the balance to another N&P account. This is called a 'cooling off' period.  Alternatively, we will return your money to you without any charge or notice being required. Any transfer or refund will be subject to the relevant funds having cleared i.e. a period of at least four days(excluding Saturdays, Sundays and public holidays) must be allowed for the clearance of deposited cheques.

    If you do wish to change your mind please visit your local branch or call us on 0845 300 2511.

ACCOUNT TYPE