Clockwork Regular Saver Issue 2 - Progressive Building Society

Clockwork Regular Saver Issue 2

Progressive Building Society
1.6 % AER
Headline Interest Rate
Regular Saver
FSCS
Compensation Scheme
£ 20 min monthly deposit
£ 500 max monthly deposit
  • Open By:

About the account

Account Type: Regular Saver
Headline Interest Rate: 1.6 % AER
Protection Scheme: This account is covered by the Financial Services Compensation Scheme.
Minimum Initial Deposit: £ 20
Minimum Monthly Deposit: £ 20
Minimum Additional Deposit: £ 20
Maximum Monthly Deposit: £ 500
What happens if you miss a payment: Missing a deposit will result in the account interest rate reducing to the Ordinary Share rate of the Progressive Building Society.
Date account was introduced: 01 Jan 2013
Date of last rate changed: 01 Jan 2013
Maximum rate change: 0.1 %

This account may be appropriate for you if

  • You are over 18 years of age

Rate details

Gross Rate
Excluding Bonus
Gross Rate
Including Bonus
AER
£201.60%1.60%1.60%

Account access

Open account byManage account by
Bank
Post
Phone
Internet
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: Allowed
Passbook: Passbook available.

Withdrawals

Withdrawal Conditions: A maximum of 1 withdrawal is permitted in any calendar year. If more than 1 withdrawal in a calendar year the account interest rate will reduce to the Ordinary Share rate of the Progressive Building Society. Withdrawals up to £250 are by cash, larger amounts by cheque.
Minimum Withdrawal: £ 1
Notice and Penalty Charge: Withdrawals may be made without notice, penalty or charge.
Free Withdrawal Conditions: A maximum of 1 withdrawal is permitted in any calendar year. If more than 1 withdrawal in a calendar year the account interest rate will reduce to the Ordinary Share rate of the Progressive Building Society.

Conditions

Area Restrictions: This product is restricted to existing members or new applicants living in Northern Ireland only.
Trustee Types: This account can be opened on behalf of a child or in trust.
Additional Subscriptions Permitted: This account does not let you transfer ISA savings from a deceased spouse

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