Smart Save Monthly Issue 2 - Ipswich Building Society

Smart Save Monthly Issue 2

Ipswich Building Society
2.9 % AER
Headline Interest Rate
Regular Saver
Compensation Scheme
£ 10 min monthly deposit
£ 500 max monthly deposit
  • Open By:

About the account

Account Type: Regular Saver
Headline Interest Rate: 2.9 % AER
Protection Scheme: This account is covered by the Financial Services Compensation Scheme.
Minimum Initial Deposit: £ 10
Minimum Monthly Deposit: £ 10
Minimum Additional Deposit: £ 10
Maximum Monthly Deposit: £ 500
What happens if you miss a payment: If a payment is missed, during the year which runs from account anniversary to anniversary, the bonus will be forfeited for that year. If monthly payments are not received for 3 consecutive months Ipswich Building Society will assume that the Customer has decided to stop saving regularly and if the balance is less then £100 they will close the account. If the balance is £100 or more it will automatically be converted to a Everyday Saver account and a passbook will be sent out.
Date account was introduced: 01 Oct 2016
Date of last rate changed: 01 Oct 2016
Maximum rate change: 0.05 %

This account may be appropriate for you if

  • You are over 16 years of age

Rate details

Gross Rate
Excluding Bonus
Gross Rate
Including Bonus

Account access

Open account byManage account by
Interest Payment Option
Interest Added to Account
Interest Paid to Other A/c
Interest Paid to Bank A/c
Interest Paid by Cheque
Interest Payment Frequency: annually
Statement Frequency: annually
Additional Deposits: Not allowed
Standing Orders: Not allowed


Withdrawal Conditions: Two withdrawals are permitted during the anniversary year each year. The account can be closed at any time however any accumulated bonus will not be paid if the account anniversary has not been reached.
Minimum Withdrawal: £ 1
Notice and Penalty Charge: Two withdrawals are permitted each year without notice, penalty, or charge.
Free Withdrawal Conditions: Two withdrawals are permitted during the anniversary year each year.


Area Restrictions: New investors living outside of the Society's normal area of operation are not permitted to open this account. The following postcodes are counted as operational areas: IP, NR, CO, CM, CB and PE only.
Additional Subscriptions Permitted: This account does not let you transfer ISA savings from a deceased spouse
Restricted Availability: This product is only available to existing members of Ipswich Building Society or new applicants resident in postcode areas IP, NR, CO, CM, CB or PE.

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