INTEREST RATES FOR SAVERS July 2015 Modern savings Traditional service
INTEREST RATES for Savers Why choose Hinckley & Rugby? If you re looking for a building society that offers you a first class service and a wide range of carefully planned savings accounts, Hinckley & Rugby could be right up your street. The friendly face of financial services If you like to see someone with the time to share a hello and a smile, we think you ll love the appeal of our branches. There s more of our friendly, high quality service over the phone you ll speak directly to a member of staff whether you call a branch or our main number. We don t operate a call centre and there are no annoying menus to find your way through. Simply tell us why you re calling and we ll put you through in seconds to someone who can help you. It s all part of a real service designed for real life.
A century and a half of serving our communities Help us celebrate a very special birthday Being a member of Hinckley & Rugby Building Society means you are part of something very special and this year we have something really important to celebrate as 2015 marks our 150th anniversary! Very few institutions have been in existence for quite so long and this remarkable feat has only been possible due to the loyal and unwavering support of members like you. If you could step back in time to 1865, you would have found a meeting of local tradespeople taking place at a Hinckley inn. Thomas Kiddle Mr Thomas Kiddle, a draper of Castle Street, volunteered to be manager of Hinckley Freehold Land and Permanent Building Society and the firm foundations that the Hinckley & Rugby of today are built on were laid. Three generations of the Kiddle family held stewardship over the Society for the next 90 years as it evolved and adapted to continue to serve the local communities in its Leicestershire and Warwickshire heartland. Then, in 1983, the decision was taken to merge with the Rugby Provident Building Society and the Hinckley & Rugby, as you know us, was established. The Society of today is very different in many ways to the institution founded 150 years ago, but what hasn t changed is our commitment to mutuality and traditional first class personal service, our highly competitive mortgages and savings accounts and the staunch support of our loyal members. Photograph courtesy of Warwickshire County Record Office - the Francis Frith Photographic Collection
EASY ACCESS ACCOUNTS PREMIUM SAVER EASY ACCESS ACCOUNT (Issue 2) Minimum Investment WITH ANNUAL INCOME WITH MONTHLY INCOME Gross* Net ** AER*** Gross* Net ** AER*** 5,000 1.10% 0.88% 1.10% 1.10% 0.88% 1.11% 500 1.10% 0.88% 1.10% - - - One penalty free withdrawal is available per calendar month. Additional withdrawals can be made subject to 30 days loss of interest on the amount withdrawn. The minimum withdrawal is 250 by cash or cheque and the maximum cash withdrawal is 500 per day. The minimum investment is 500 and the maximum is 300,000. HIGH RISE EASY ACCESS ACCOUNT Minimum Investment WITH ANNUAL INCOME WITH MONTHLY INCOME Gross* Net ** AER*** Gross* Net ** AER*** 100,000 0.40% 0.32% 0.40% 0.40% 0.32% 0.40% 50,000 0.20% 0.16% 0.20% 0.20% 0.16% 0.20% 25,000 0.15% 0.12% 0.15% 0.15% 0.12% 0.15% 5,000 0.05% 0.04% 0.05% 0.05% 0.04% 0.05% 25 0.05% 0.04% 0.05% - - - High Rise gives you immediate access to your money. You can withdraw up to 500 in cash per day or any amount by cheque. The minimum investment is 25 and the maximum is 300,000. This account is only available to savers living within our core business area. NOTICE ACCOUNTS RAINY DAY 60 DAY NOTICE ACCOUNT Minimum Investment WITH ANNUAL INCOME WITH MONTHLY INCOME Gross* Net ** AER*** Gross* Net ** AER*** 50,000 1.45% 1.16% 1.45% 1.45% 1.16% 1.46% 25,000 1.25% 1.00% 1.25% 1.25% 1.00% 1.26% 10,000 1.10% 0.88% 1.10% 1.10% 0.88% 1.11% 5,000 0.60% 0.48% 0.60% 0.60% 0.48% 0.60% 2,500 0.60% 0.48% 0.60% - - - This account offers penalty free access to savings, subject to a 60 day notice period. Should you need immediate access to your funds, a withdrawal can be made subject to 60 days loss of interest on the amount withdrawn. The minimum withdrawal is 250 and only cheque withdrawals are allowed. The minimum investment is 2,500 and the maximum is 300,000.
AFFINITY ACCOUNTS Minimum Investment Gross* Net ** AER*** HOSPICE AFFINITY SAVINGS ACCOUNT 500 1.00%p.a. 0.80%p.a. 1.00% This account pays interest at the above rate to savers and in addition 1% of the average balances held in the account during the previous year will be donated to three local hospices. LOROS, which cares for patients from Leicestershire and Rutland, Myton Hospice, covering both Rugby and Coventry, and Mary Ann Evans Hospice, based in Nuneaton, will each receive an equal share of the 1% donation each year on 1 December. The account offers easy access to savings with a minimum investment of 500 and a maximum investment of 300,000. The minimum withdrawal is 250 and only cheque withdrawals are allowed. CHILDREN S ACCOUNTS Minimum Investment Gross* Net ** AER*** STARTER 4 TEN CHILDREN S SAVER ACCOUNT 1,000 2.25%p.a. 1.80%p.a. 2.25% 10 2.00%p.a. 1.60%p.a. 2.00% Available to young savers under the age of 16. A Starter 4 Ten can be opened and operated by a young saver or in the name of a parent or guardian on behalf of the young saver. It can be opened with as little as 10 and offers immediate access to your money. The maximum investment is 10,000. Withdrawals can be made at any time by cash or cheque and the maximum cash withdrawal is 500 per day. This account is only available to savers living within our core business area. TAx FREE SAVINGS ACCOUNTS Minimum Investment Gross* Net ** AER*** 120 DAY NOTICE CASH ISA (Issue 2) 500 1.60%p.a. - 1.60% This account offers tax free savings. Minimum investment is 500 and the maximum is 15,240 in a tax year. Full details on subscription limits can be found in our separate 120 Day Notice Cash ISA brochure. This account offers penalty free access to savings, subject to a 120 day notice period. Withdrawals can be made by cash or cheque and the maximum cash withdrawal is 500 per day. 7 DAY NOTICE CASH ISA 500 1.10%p.a. - 1.10% This account offers tax free savings. Minimum investment is 500 and the maximum is 15,240 in a tax year. Full details on subscription limits can be found in our separate 7 Day Notice Cash ISA brochure. This account offers penalty free access to savings, subject to a 7 day notice period. Withdrawals can be made by cash or cheque and the maximum cash withdrawal is 500 per day. For eligible investors aged 18 or over the annual ISA subscription limit in this tax year is 15,240. The limit for investors aged 16 and 17 (who can only subscribe to a Cash ISA) is 15,240. Up to 15,240 of the allowance can be saved in a Cash ISA with Hinckley & Rugby or split between a Cash ISA and a Stocks and Shares ISA (with another provider).
We do not offer Stocks and Shares ISAs. Alternatively, the full 15,240 can be invested in a Stocks and Shares ISA with another provider. You must be at least 16 years of age to open an ISA and must be resident in the UK for tax purposes. Investors must not subscribe to more than one Cash ISA account in any given tax year. Interest is paid annually on 5 April or closure. Details of any currently available Fixed Rate Cash ISAs can be found on the Society s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society s branches. DEPOSIT ACCOUNTS TREASURER S DEPOSIT ACCOUNT This account is a deposit account (for clubs, societies and charities) and does not give membership rights with Hinckley & Rugby Building Society. The minimum investment is 25 and the maximum is 300,000. You can have immediate access to your money subject to branch and agency withdrawal limits. The interest rates are the same as for our High Rise Easy Access Account. There is no monthly income option available on this account. This account is only available to savers living within our core business area. OTHER ISSUES Minimum Investment Gross* Net ** AER*** BANK BASE RATE TRACKER EASY ACCESS ACCOUNT 5,000 0.50%p.a. 0.40%p.a. 0.50% * Gross Rate - the contractual rate of interest payable before the deduction of Income Tax at the rate specified by law. ** Net - the rate of interest which would be payable after allowing for the deduction of Income Tax of 20%. *** AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year (or monthly as the case may be). FIxED RATE ACCOUNTS Details of currently available accounts (including any ISAs) can be found on the Society s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society s branches. POSTAL ACCOUNTS Details of currently available accounts, including any special postal accounts, can be found on the Society s website at hrbs.co.uk or by calling our dedicated postal helpline on 01455 894062. BUSINESS ACCOUNTS Details of currently available accounts can be found on the Society s website at hrbs.co.uk, by calling our business helpline on 01455 894060 or by visiting one of the Society s branches. ACCOUNTS NO LONGER MARKETED Details of these accounts can be found on the Society s website at hrbs.co.uk, by calling our helpline on 01455 251234 or by visiting one of the Society s branches.
Notes, Terms & Guidelines Interest Rates for Savers NOTES This leaflet set out current interest rates and gives brief details of our accounts and must be read in conjunction with our Savings Account Terms and Conditions booklet and with the specific brochure relevant to the account you choose to open or have already opened. These rates are correct at the date of going to press. Any changes in interest rates will be advertised on a notice in our branches and in the Leicester Mercury and the Coventry Evening Telegraph within three days of the change. Some customers will also receive a personal notification of the change. Interest rates are available at any time on request on our helpline 01455 251234 or you can find them on our website at hrbs.co.uk When you pay a cheque into one of the Society s branches or agencies our normal working practice is to allow withdrawals from the start of the sixth business day after the day of deposit, subject to the special terms applicable to your account. By the end of this day you can be certain that the money is yours and cannot be reclaimed without your permission, provided that you are not knowingly a party to fraud. Up until the end of day six a cheque may still bounce and the money can be reclaimed from your account. Funds are available for immediate withdrawal for all other types of deposit, subject to the special terms applicable to your account. For cheque receipts, interest is paid from the day after the cheque is deposited with us. For cash and automated credits, interest is paid from the day of deposit. The day of deposit is the day it is paid in at a branch or agency or is received by us in the post, subject to our current terms and conditions. Business day means a day other than a Saturday, Sunday or Bank Holiday. We do not allow payments to be made from your savings account by direct debit or standing order. Maximum cash withdrawal limit is 500 per day per account. Larger amounts can be withdrawn by cheque. Interest is paid annually on 1 December (except for ISA accounts). For some accounts you can have your interest paid monthly if you invest 5,000 or more. Interest will be paid gross for non-taxpayers subject to eligibility and the required registration. Otherwise interest will be paid after deduction of the appropriate rate of income tax. Interest on ISA accounts will be paid gross subject to scheme rules. THE SOCIETY S CHARGES 10 when a cheque receipt or direct debit is returned unpaid 5 for providing a duplicate statement for each year prior to the current financial year 25 for telegraphic transfer of funds from an account (CHAPS fee) 10 for stopping a cheque 10 for a subject access request (Data Protection Act) 10 to replace a lost passbook 10 to request a copy cheque 10 to recall a standing order payment 25 administration charge for transfer of ISA account to another financial institution These charges may change in the future. Any change will be made in March of each year. You will be told about the charges at any time you ask our staff and before you use the service unless it relates to an unpaid cheque or recalled standing order payment. There may be other taxes or costs that are not paid through us or charged by us. TRANSACTION LIMITS Any cash withdrawal is limited to 500 per day for security purposes. To reduce queuing time and to maintain our high level of customer service please note our limits on certain types of transactions. Withdrawals per day per account A maximum of 5 withdrawals. Receipts per day per account A maximum of 10 cheque deposits. A maximum of 3,000 in notes deposited. A maximum of 20 in coins deposited (all properly bagged - no more than five bags). The Society will continue to accept coin deposits above these limits from charities and young savers but you will be asked to help us to help the rest of our customers by counting and bagging your change in advance and avoiding peak times if possible.
PAYING INTO YOUR SAVINGS ACCOUNT USING ONLINE OR MOBILE BANKING Paying funds into your account is easy and can be done directly from your bank current account using online or mobile banking. To do so you will need the Society s bank account number 81228218 and sort code 40-24-19, using your Hinckley & Rugby savings account number (all 11 digits) as your payment reference. You can also easily make regular monthly investments by setting up a standing order from your bank account using the same details. GUIDELINES ON WRITING CHEQUES To protect against fraud, when you are paying a cheque into a building society or bank, please do not make the cheque out simply to that organisation. Adding further details, such as the name of the person to whom the money is being paid, in the payee line, will protect you and meet the rules. For example, when paying a cheque to the Society, fill in the payee line with Hinckley & Rugby Building Society A/c J Smith. To protect your account against fraud, you should also draw a line through unused space on the cheque so that unauthorised people cannot add extra numbers or names. DEPOSIT GUARANTEE SCHEME Hinckley & Rugby Building Society is covered by the Deposit Guarantee Scheme. Please ask for a copy of our Deposit Guarantee Scheme Information Leaflet for full details.
At the Hinckley & Rugby the safety and security of our members savings has been, and always will be, our number one priority. This is reflected in the Society s prudent approach to mortgage lending (resulting in a mortgage book of the highest quality) and a simple and transparent business strategy. Hinckley & Rugby is committed to providing an extensive range of competitive savings accounts and mortgage schemes and to maintaining the highest standards of customer service. The Society does not operate a call centre and endeavours to ensure every telephone call is answered personally by a member of staff within five rings. No appointments are necessary to open an account at any of our branches. Hinckley & Rugby is a top 20 society with total assets of more than 550 million and over 60,000 savers. In addition, it has over 7,000 borrowers who are also benefiting from the Society s success. Hinckley & Rugby is not only represented in some of the larger towns of the East and West Midlands, but is also strongly committed to having outlets in smaller village communities, where it is often the only financial services provider for miles around. Conversion to a bank is not an option for a regional society such as Hinckley & Rugby. Our future clearly lies in providing the benefits of mutuality to our members who are, of course, our customers. Hinckley & Rugby Building Society is a member of the Financial Ombudsman Service where complaints we cannot settle internally may be referred. Society Branch Offices and Branch Agents A full list of the Society s branch offices across Leicestershire and Warwickshire, as well as details of its branch agents, together with contact telephone numbers and opening hours can be found on Hinckley & Rugby s website at hrbs.co.uk
Need a different kind of savings account? Check out these Hinckley & Rugby accounts: Easy access accounts pay in and withdraw your money when you need to Notice accounts earn a better rate of interest as a reward for telling us when you want to make a withdrawal Savings bonds offering fixed and variable rates of interest for a set term Tax free savings take advantage of your tax-free ISA allowance Young saver accounts specially designed accounts for savers under the age of 16 Postal accounts operate your account from your own home using first class post Affinity accounts save while supporting a worthy cause Business accounts special accounts designed for modern businesses To find out more about these accounts, simply pick up a leaflet in your local branch, visit our website at hrbs.co.uk or call us on 0800 434 6343. Principal office: Upper Bond Street, Hinckley, Leicestershire LE10 1DG tel: 01455 251234 fax: 01455 618506 web: hrbs.co.uk Scan here to learn more about our accounts at hrbs.co.uk To help maintain service and quality, some telephone calls may be recorded and monitored. The Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. The Society s registration number is 206043. 2/11-07/15