E-Regular Saver

Current Rates
Account balance Gross Net* AER**
£1 and over (year-1 fixed rate) Excluding 1.5% conditional bonus 1.50% 1.20% 1.50%
Including 1.5% conditional bonus 3.00% 2.40% 3.00%
£1 and over (after year 1 variable rate) Excluding 1.5% bonus 0.35% 0.28% 0.35%
Including 1.5% conditional bonus 1.85% 1.48% 1.85%

Current rates effective from 24/04/2013

HERE'S HOW IT WORKS

  • Open your account online in minutes and start saving straight away

  • Open an E-Regular Saver with a maximum of £250, then deposit between £1 to £250 every month

  • Please note, attempting to send cheques or transfer in more than £250 may result in the account being closed

  • For the first year you'll earn a fixed rate of 1.50% AER** on your savings

  • You can also earn an extra bonus of 1.5% AER** if you save every month for 12 months and make no more than one withdrawal a year

  • In following years your savings will earn a variable rate of interest - but you can still earn your 1.5% annual bonus

  • Interest is generated for each full day your funds are in the account with your interest being paid annually. E.g If you invest £250 for the first month you will earn interest on that balance and for each instalment thereafter.

Only one E-Regular Saver account can be opened per customer throughout the life of the product. You cannot open a new E-Regular Saver after the fixed rate period has ended.

COULD BE IDEAL IF YOU…

  • Want the convenience of managing your money online

  • Need a way to save for something special - like a holiday or Christmas

  • Don't mind tying up your savings for an even better rate 

  • Want a great rate that's fixed for the first year

E-Regular Saver can only be opened in a single name. Joint or Trustee accounts are not available.

WAYS TO MANAGE YOUR ACCOUNT…

  • With the E-Regular Saver, you have the convenience of accessing your account 24 hours a day from home, the office or anywhere you can get internet access

  • You can withdraw up to £10,000 per day from your Account subject to the availability of cleared funds.

  • The E-Regular Saver account cannot be managed either by post or your branch, if this is important to you then you can open our standard Regular Saver account either in your local branch or by downloading the application form.

How can I open a E-Regular Saver account?

It's easy.

Open your account online in minutes and start saving straight away.

You can then save by paying directly into your account online.

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

How is interest calculated on this account?

E-Regular Saver is designed for regular savings, which means you must make a payment into your account each month and with a maximum of one withdrawal in the year to achieve the bonus element.

Interest is paid for each full day that your money is deposited in your account. You can put up to £250 in your account the day you open it which will earn a full year’s interest. Each month thereafter you can deposit up to £250 and it will earn interest every day the money is in the account up to the anniversary date when your annual interest is paid.

Eg. Account opened 1 January 2011 with the maximum £250. Interest is earned on this deposit for 365 days (a full year) before the interest is calculated and paid back to the account. If you deposit a further £250 on 1 February, it will earn 334 days interest (February to December) before the interest is calculated and paid back to the account and so on. 

You will not receive a full year's worth of interest on the total amount you deposit with us over the 12 month period (maximum £3,000).

How much can I save in a E-Regular Saver account?

Anything from £1 to £250 a month.

What are the conditions for the bonus payment for the E-Regular Saver account?

You’ll be paid a bonus on each anniversary of opening your account, as long as you have made 12 consecutive monthly payments in the account and not more than one withdrawal from it during that year. 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 E-Regular Saver account?

This 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 or trustee account?

E-Regular Saver can only be held in a sole name. Joint or trustee accounts are not allowed.

Can I open more than one account?

Only one Regular Saver account can be opened per customer throughout the life of the product. You cannot open a new E-Regular Saver after the fixed rate period has ended.

What are the rules on withdrawals?

You can take money out of your account, subject to a daily limit of £10,000, at any time without notice or penalty, although you will lose your bonus if more than one withdrawal is made per year.

How can I close my account?

To close your account, you will need to send your written instructions to us by secure e-mail. Your account will then be closed and a cheque sent to the address we hold for you. If you have any problems, please call us on 0845 300 2511.

When will my account start earning interest?

Money paid into your account in cash or by Bankers’ Automated Credit will earn interest from the day we receive it. Interest will be added to your account annually on the anniversary of account opening.

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

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 (where withdrawals are allowed).
  • Set up and cancel payments (subject to the terms and conditions of your specific account). 
  • Transfer funds between your N&P accounts (subject to the terms and conditions of 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 (subject to account balance and account terms).

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 please visit our Internet Banking Section.

Can I be certain that online banking is absolutely secure?

You can with N&P.

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 make it too obvious, so that someone else could guess it.

How can I find out any further information about tax allowances and tax on savings interest?

You can contact HMRC on 0845 366 0645 or visit their website at www.hmrc.gov.uk. Alternatively, the Building Societies Association has some useful information that can be accessed by visiting www.bsa.org.uk/consumer/factsheets/tax.htm.

How can I pay money into E-Regular Saver?

Just tell your bank or building society that's what you want to do. Simply give them your E-Regular Saver account number and sort code.

To send money to your account from within the UK using BACS you should ask the sender of the funds to use your account number and our UK sort code which is 08-60-81.

If money is to being sent via CHAPS (which is a same day transfer system), the payer will need to send the payment to;

Sort code 23-67-99; account number 00000000 or the word 'DIRECT'. The payer must also quote a reference (e.g. xxxx) including your name and your account number. The bank the payer uses will help them complete the form with these details. If the payer does not quote your account name and number, unfortunately the payment will be returned.

If the money is coming from overseas, by way of a telegraphic transfer or SWIFT payment, the payer can send;

Payments from Europe to IBAN: GB23BARC20673700708852; Swift Code BARCGB22 and the payer must also quote a reference including your name and your account number. Again, the bank the payer uses will help them complete the form with these details. If the payer does not quote your account name and number, unfortunately the payment will be returned;

Payments coming from outside Europe to Sort Code 20-67-37; account 00708852; Swift Code: BARCGB22 and again must quote your name and account number, If the payer does not quote your account name and number, the payment will be returned.

Please note that your bank or building society may apply a daily limit on how much you can send to your new N&P account.

How do I receive gross interest on my account?

Interest may be paid gross (i.e. without tax being deducted) to customers who are not liable for income tax. To receive interest gross, you must complete the ‘Getting your interest with tax taken off’ (R85) Form for each of your accounts and pass these on to the provider of the accounts. R85 forms are available from any N&P branch or by calling us on 0845 300 2511.

I currently have interest on my account paid net, with tax deducted. Can I have the tax refunded?

If you want to find out if you can claim back tax that has been deducted, and how to do so, you can contact HMRC on 0845 366 7850 or visit their website at www.hmrc.gov.uk.

View All Frequently Asked Questions
Product Information
Summary Box
Key Product Information for our E-Regular Saver account
Account name E-Regular Saver
Interest rates (AERs) Fixed rate for first 12 months, variable thereafter.
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 A bonus will be paid on each anniversary of account opening as long as you have made 12 consecutive monthly investments in the account and not more than one withdrawal from it during that year. 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. N&P reserves the right to vary the bonus rate at any time.
Withdrawal arrangements Easy access without notice or loss of interest, although there will be a loss of bonus if more than one withdrawal is made each year.
Access This account can only be opened and operated online.

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

Read our General Savings and Investments Terms and Conditions.

ATTRACTIVE RATES

  • Make 12 consecutive monthly payments and no more than one withdrawal in a year and you could get 3.00% AER** fixed for 12 months - this includes a 1.5% bonus.

FLEXIBLE SAVINGS

  • Put away as little as £1 a month.

  • Save as much as £250 a month.

INTEREST

  • Interest is paid for each full day that your money is deposited in your account. You can put up to £250 in your account the day you open it which will earn a full year’s interest. Each month thereafter you can deposit up to £250 and it will earn interest every day the money is in the account up to the anniversary date when your annual interest is paid.
  • Eg. Account opened 1 January 2011 with the maximum £250. Interest is earned on this deposit for 365 days (a full year) before the interest is calculated and paid back to the account. If you deposit a further £250 on 1 February, it will earn 334 days interest (February to December) before the interest is calculated and paid back to the account and so on.

WHAT IF I CHANGE MY MIND?

At N&P, we understand how important it is for you to be satisfied with your savings accounts. If you open a new savings account (other than a fixed rate bond) and within 14 days of opening it or the day on which you receive the terms and conditions (whichever is the later), you decide that it does not meet your requirements, we will transfer the balance to another N&P account. This is called a 'cooling off' period. Alternatively, we will return the balance to you without any charge or notice being required. Any transfer or refund will be subject to the relevant funds having cleared. A period of at least four full Working Days, excluding the day you paid a cheque into your Account, must be allowed for cheques paid into the Account to clear. Occasionally, cheques may be returned unpaid after this period.

This cooling off period does not apply to fixed rate bonds.

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

SPECIFIC CONDITIONS FOR E-REGULAR SAVER ACCOUNT

These are the specific conditions which apply to N&P's E-Regular Saver account in addition to the General Conditions for savings and investments. In the event of a difference between any of these conditions and any of the General Conditions, then the specific condition will apply.

Opening and operating an E-Regular Saver Account ("Account")

  • You must be 16 years or over to open an Account.
  • An Account must be opened and operated via N&P's web site. An Account cannot be opened or operated at any of the Society’s branches.
  • The Account can only be held in a sole name. Joint or trustee Accounts are not allowed.
  • The Account is a share account and is available only to personal customers who reside in the UK.
  • A customer may only open one Account over the life of the product.
  • Only one E-Regular Saver Account can be opened per customer throughout the life of the product. You cannot open a new E-Regular Saver after the fixed rate period has ended.

Paying into your E-Regular Saver Account

You can pay in anything between £1 and £250 per month.

Withdrawals from and closure of your E-Regular Saver Account

  • Easy access without notice or loss of interest, although there will be a loss of bonus if more than one withdrawal is made each year.
  • You can withdraw up to £10,000 per day from your Account subject to the availability of cleared funds.
  • To close the Account, you need to send your written instructions to us by secure e-mail. If you encounter difficulties please call us on 0845 300 2511.

Interest

Interest paid annually to your Account on the anniversary of the date when it was opened

Annual Bonus

A bonus will be paid on each anniversary of Account opening as long as you have made 12 consecutive monthly investments in the Account and not more than one withdrawal from it during that year. 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.

Apply for an E-Regular Saver Account

You can apply for an E-Regular Savings Account online using our application form.

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DECLARATION, AGREEMENTS AND NOTIFICATIONS

References to “we”, “our”, “us” and “the Society” are references to Yorkshire Building Society trading as Norwich & Peterborough Building Society.

Customer declaration

I wish to open an E-Regular Saver Account with Yorkshire Building Society trading as Norwich & Peterborough Building Society and I declare that:

(a) I am the beneficial owner of the monies which will be invested in the Account and that no other person has any interest in such monies;

(b) The monies invested will not be held by me as a bare trustee for a body corporate or for person(s) who include a body corporate;

(c) I agree to be bound by the Rules of Yorkshire Building Society as amended from time to time (a copy of which is available on request from the Society);

(d) I have read and accept the specific conditions of the E-Regular Saver Account and the General Conditions for savings and investments. I understand and agree that in the event of a difference between any specific condition and any of the General Conditions, the specific condition will apply;

(e) I agree to be bound by the Charitable Assignment Agreement

(f) I agree to the use of my information as explained in this application.

Agreement to use Electronic Communications

I agree with the Society that it may communicate with me for all purposes (other than marketing*) using the e-mail address given by me in my application (or using such other e-mail address as I may notify to the Society and which I wish to be used for such purpose from time to time). In particular, and without limiting this agreement, I expressly agree that the Society may send me a copy of its Summary Financial Statement, Annual Auditor's Report and any other communications which it is required by law to send me, in electronic form using such e-mail address, or by notifying me at such e-mail address of where and how I may access copies thereof (where the law permits) on a web site.

* This Agreement does not relate to electronic communications sent for marketing purposes. You have already indicated whether or not you wish the Society to send you electronic communications for marketing purposes in the Data Protection section of the application. Please note that the Society can only communicate with you using a single e-mail address. Accordingly, if you advise the Society that you wish it to communicate with you at a different address than that given in your application at some point in the future, the new address will be used for all forms of electronic communication.

Charitable Assignment Agreement

The wording in paragraphs 1 to 3 below does not apply if you were a member of Norwich & Peterborough Building Society immediately before its merger with Yorkshire Building Society and have remained a member since that date. If this is the case, please write to us detailing your mortgage and/or investment account numbers.

1. By applying to open an account I agree with the Society and Yorkshire Building Society Charitable Foundation (“the Foundation”) that I will assign to the Foundation (or to any charity(ies) nominated by it but to no other person) the rights of any relevant conversion benefits which are defined below. This obligation will not apply to me or may apply to me for less than 5 years if I fall within any class of persons, which as at today's date, the Society decides would be inappropriate to be bound by this assignment condition. This obligation is irrevocable and authorises the Society to give the Foundation (or to any charity(ies) nominated by it) any such benefits without further notice to me. I understand that neither the Society nor the Foundation will release me from this Agreement or vary its terms and I will continue to be bound by the above condition even if the Society decides at some time in the future (and announces any such decision by press release) that it is no longer in the best interests of the Society to continue with the above assignment condition generally in respect of new members.

2. “Relevant conversion benefits” means any benefits under the terms of any future transfer of the Society's business to a successor company (ie on a conversion or take over) which I might become entitled to as a member or depositor with the Society at any time within 5 years immediately following the date on which this account is opened. Relevant conversion benefits does not include the statutory right to have shares in the Society (including any balances on share accounts) converted into deposits with the company on a conversion or takeover. If the Society merges with any other society, after the date of such merger the “Society” includes such other society.

I authorise the Society to pass to the Foundation such information relating to me and all my accounts with the Society, as the Foundation may reasonably require in order to administer this agreement to assign and for no other purpose.

How we will use the information you provide

For the purpose of the Data Protection Act 1998 (‘the Act’) Yorkshire Building Society is the data controller.

We will obtain information about you from records held at a credit reference agency/agencies. This information will include details from the Electoral Roll to establish your identity. We will use the information that you provide to administer your account, marketing, for research and to comply with any request for information from any regulatory body. We may disclose information to third parties for these purposes. We may occasionally need to transfer information to countries outside of the European Economic Area. This will be done under a contract which includes appropriate safeguards for the security and confidentiality of your information, with your consent or where permitted by the Act. In order to prevent crime we may exchange information (both within the UK and where appropriate, overseas) where necessary with fraud prevention and law enforcement agencies and other organisations. Yorkshire Building Society and its group of companies share information for fraud prevention purposes. You agree that after your account has closed we may continue to process your information in aggregate (so that no individuals are identified) for research and statistical analysis. You may have the right on payment of a fee to a copy of the information we hold about you if you apply to us in writing.

It is important that you give the Society accurate information.

The Society may check your details with credit reference and fraud prevention agencies. If false or inaccurate information is provided and fraud is identified, details will be passed to fraud prevention agencies to prevent fraud and money laundering.

Further details explaining how the information held by fraud prevention agencies may be used can be obtained by contacting us on 0845 300 2511.