Online Easy Access Account

It is a variable rate, with the rate as at 20.09.2021 shown below:

Interest is calculated daily and paid annually into your Online Easy Access Account.

Yes.

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

Based on a deposit of £1,000 at the annual Gross rate advertised, it would generate an estimated;

Assumptions taken for the above calculations;

• No change in the amount (no deposits, no withdrawals)
• No change to the variable interest rate
• Interest paid annually

This estimate is for illustrative purposes only and do not take into account individual circumstances.

Rates correct at 20.09.21

Eligibility:

You must:

• Be aged 18 or over and resident in the UK
• Have a UK bank account to fund the Account and receive withdrawals

Minimum/Maximum Balance:

• The minimum interest earning balance is £500
• The maximum interest earning balance is £200,000

How to open the Account:

You may complete the Application Form,  and then return it along with verified copies of your Photo ID and either a Bank Statement or Utility Bill as Proof of Address dated within the last 3 months. This may take up to 15 Working Days to process, forms can be returned in the following ways:

• In branch: Visit any of our branches Monday to Friday between 9:30am and 4pm
• In writing: By post, sending instructions to: FREEPOST: RSSA-GJRS-KBCT, UBL UK Central Operations, 391-393 Stratford Rd, Birmingham B11 4JZ (all written instructions must be countersigned and dated by all named Account holders)

Please make sure that you select the links below and read and understand the Personal Banking Terms and Conditions where you will find full details of the Account, before you apply:

Personal Banking Terms and Conditions

How we protect your deposits

Interest Rate Sheet

Personal Banking Schedule of Charges

How to manage the account:

• Mobile: search 'UBL UK Mobile Banking' in your app store to download the app
• Internet: once you have an account, you can visit digitalbanking.ubluk.com to manage your account

Internet and mobile banking can be used to view your balances, set up payees, view statements and make withdrawals, along with a host of other useful features. If you choose a physical application route, you will need your account number and the answers to your security questions to register.

Yes.

You may make an unlimited number of withdrawals subject to the daily Online Banking withdrawals limits (£10,000).

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 is your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC) or the relevant Tax Authority.

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.