'Rate for Life' Online Account
The 'Rate for Life' Online Savings Account from Bradford & Bingley gives you a competitive variable interest rate, guaranteed to beat the Bank of England base rate for life, and online access to your savings account 24 hours a day.
Introducing the 'Rate For Life' Online savings account
Our brand new savings account is guaranteed to pay you a competitive rate, by tracking 0.25% above the Bank of England base rate for life, so you'll be one of the UK's top 22% interest earners.
Summary Box - Key Product Information for our Savings Account.
Account Name:
Rate for Life
(Online)
Interest Rates: (AERs)
£1,000+ 3.25% gross p.a./AER,
Variable
(rate guaranteed to match Bank of England Base Rate plus 0.25% for the life of the account)
Tax Status:
Gross or net of income tax, subject to eligibility
Conditions For Bonus Payment:
No Bonus
Withdrawal Arrangements:
Easy Access
Access:
Online
Terms & Conditions: Rate For Life - Online
- You must be a UK resident (please note: this excludes the Channel Islands and Isle of Man).
- Applicants must be aged 18 or over.
- You need to be able to open your account with a minimum £1,000 balance (maximum £500,000).
- You must hold a personal bank or building society current account that offers Direct Debit payment facilities.
- To be able to access and transact on your account, you need access to a PC with internet capability and have a valid e-mail address.
What does AER mean?
Every savings product that shows an interest rate must show the AER. It stands for Annual Equivalent Rate and shows what the interest would be if it were paid and added each year. We do this so you can compare our accounts more easily.
Bradford & Bingley subscribe to the Banking Code, copies of which are available on our website, in our branches or can be requested by phoning our helpline.
Important Information:
- You can open your Rate for Life account with as little as £1,000 up to a maximum of £500,000.
- Interest can be paid on the last day of the month or annually (31 July), you decide.
- You can make withdrawals via BACS, to your nominated account.
How to Apply
Product's Rate Detail
Rate for Life
(Online)
| Balance | AER | AER† inc. bonus |
Gross p.a.% | Net p.a.% | Monthly Gross p.a.% |
Monthly Net p.a.% |
|---|---|---|---|---|---|---|
| £1,000+ | 3.25 | n/a | 3.25 | 2.60 | 3.20 | 2.56 |
* Calls may be monitored or recorded. Calls provided by BT will be charged at up to 4 pence per minute at all times. A set-up fee of up to 6 pence per call applies to calls from residential lines. Mobile and other providers' charges may vary. These charges may be subject to change in the future.
Bradford & Bingley's retail deposit business transferred to Abbey National plc on 29 September 2008.
Abbey National plc. Registered Office: Abbey National House, 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England. Telephone 0870 607 6000. Calls may be recorded or monitored. Authorised and regulated by the Financial Services Authority. FSA registration number 106054. Abbey and the flame logo are registered trademarks.
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