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Gold Savings Account
You've struck GOLD!
With this regular savings account
Current rates effective from 01/11/2013
Manage your account online, over the phone, or in one of our branches. It's up to you.
Find out more
You'll need to first open a Gold Classic Current Account and when that's set up, open a Gold Savings Account
Run both accounts in branch, by post or online (account cannot be opened online)
Save from £20 to £250 a month into your Gold Savings Account
Pay £500 or more into your Gold Classic Current Account every month
Don't touch your savings for a full 12 months (No withdrawals are allowed in the first year unless the account is closed.)
Invest up to £3,000 over the year into your Gold Savings Account
Fixed rate 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
That's it! You'll earn a fantastic 4.00% gross/AER** on your savings (interest on your savings is paid on the anniversary of the account open date.)
If you close your Gold Classic current account, your Gold Savings account must also be closed.
After the full 12 months your Gold Savings account will be closed and the funds transfered to an Easy Plus account.
Have a Gold Classic current account
Want a great rate that's fixed for a year
Don't need access to your savings
You just need to already hold a Gold Current Account. You can then open a Gold Savings Account in any branch or by post.
The Gold Savings Account is designed for regular savings, which means you must make a payment into your account each month.
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).
As soon as you can.
You must pay in at least £20 to open your Gold Savings Account within 30 days of the date of your application being accepted.
To qualify for the Gold Saving Account rate, you need to transfer between at least £20 and up to £250 into your Gold Savings Account every month for a full 12 months.
At the same time, you also need to pay at least £500 into your Gold Current Account every month over that year.
It's up to you.
You can do it in any branch or you can pay in cheques by sending them to:
Norwich and Peterborough Building SocietyPostal Investments UnitFREEPOST PE 104PeterboroughPE2 6BR
When you pay a cheque into your account, don't make the cheque out simply to N&P. You should include details about the account or the person you're paying the money 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 Gold Savings Account, or you can transfer money into your Gold Savings Account at any time. Just quote your Gold Savings Account number and sort code.
You can only be named on one Gold Savings Account, although you can hold an account jointly with someone else. You cannot open a new Gold Savings Account after it has been transferred to Easy Plus or if it is closed during the first year.
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.
You can only be named on one Gold Savings Account, although you can hold an account jointly with someone else.
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 will be added to your account at maturity after the first year.
Your money will earn interest up to, but excluding, the day you withdraw it.
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.
Yes you can, subject to you being 16 years old or over.
Online you are able to:
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.
Just tell us.
We make it our aim to do the best we can for all our customers.
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.
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.
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. You can download R85 forms here (along with the associated help sheet). They are also available from any N&P branch or by calling us on 0845 300 2511.
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.
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.
Read our Savings Fact Sheet.
Your Gold Savings Account is linked to your Gold Classic Current Account.
To get the special rate this account offers, you just have to save between £20 and £250 into your Gold Savings Account every month (as well as at least £500 into your Gold Classic Current Account every month).
Your Gold Savings Account is limited to 12 months.
You can only ever have one Gold Savings Account.
You must save at least £20 and up to £250 each month for a full 12 months.
You also need to pay at least £500 into your Gold Classic Current Account every month over the same period.
The maximum sum that can be invested in a Gold Savings Account is £3,000.
After the 12 months, your money (including interest) will be transferred into an N&P Easy Plus Account.
You can't make any withdrawals from your Gold Savings Account during the 12 months - that's how we are able to offer you such a great rate of interest at the end.
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.
If you do wish to change your mind please visit your local branch or call us on 0845 300 2511.
*Net rates (that is after the deduction of income tax) shown are for illustrative purposes only. The interest you earn on this account will currently be taxed at the rate of 20%. Interest will be paid gross (that is before the deduction of income tax) to non-taxpayers subject to eligibility and the required registration. Otherwise interest will be paid after deduction of income tax at the appropriate rate. Please note that gross interest can only be paid to customers aged 16 or over if they are the named account holder.
**AER means Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year.
Norwich & Peterborough Building Society and N&P are trading names of Yorkshire Building Society. Yorkshire Building Society is a member of the Building Societies Association and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Yorkshire Building Society is entered in the Financial Services Register and its registration number is 106085. Principal office of Yorkshire Building Society: Yorkshire House, Yorkshire Drive, Bradford, BD5 8LJ
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