At United Bank UK, we’ve created a smart, secure and easy-to-use savings account. Providing instant access to your funds via UBL UK Online Banking, the Online Easy Access Account helps you keep track of your finances and prepare for those unforeseen expenditures and emergencies.
Giving you flexibility and control over your money, UBL Online Easy Access Account is a convenient way for you to maximise your personal income. It offers an unrestricted number of deposits and withdrawals (subject to daily online banking limits), and enables you to manage your funds in a way that works for you. You’ll also benefit from a highly competitive rate of interest. Calculated daily, interest is paid out once a year, with the potential to earn 0.90% AER annually, while Financial Services Compensation Scheme (FSCS) protection means your money is totally secure.
The UBL Online Easy Access Account is available as a sole or joint account. The minimum interest earning balance requirement is £500, and the maximum interest-earning balance is £200,000.
This Information Sheet sets out the key information you need to know about your account. It should be read together with the Savings Accounts Terms and Conditions and forms part of our agreement with you. Please keep it for future reference.
It is a variable rate, with the rate as at 15 March 2017 shown below:
0.90% AER/Gross p.a.
Interest is calculated daily and paid annually into your Online Easy Access Account.
As this account pays a variable rate of interest, the rate can change over time. For example we might review the interest rate if the Bank of England base rate changes. We’ll always let you know of any planned changes to the rate.
Two months' notice will be given for all variable interest rate changes.
A deposit of £1,000 at an annual Gross rate of 0.90% would generate an estimated balance of £1,009.00
This estimate is for illustrative purposes only and do not take into account individual circumstances.
Assumptions taken for above calculations;
No new applications are being accepted at this time.
The account can only be managed through UBL Net Banking.
Unlimited number of withdrawals allowed subject to the daily Online Banking withdrawals limits (£10,000).
One free withdrawal is allowed each calendar month. A £1.00 charge for each subsequent withdrawal within the same calendar month will be applied.
This account can be held in single or joint names.
If you wish to close the Online Easy Access Account, we will close your Account on receipt of the instructions and repay all of the money you invested along with accrued interest. You will not be charged for this transaction even if you have used the free transaction you are entitled to for that calendar month.
Interest will be paid using the Gross Rate and tax will not be deducted where your interest is exempt.
Gross rate means we won’t deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.
We are currently not accepting new applications for Online Easy Access Accounts.
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