Savings Builder account

Yes, we may change the rate up or down. There are a few reasons for this, such as a change in the Bank of England base rate. You can find a full list of reasons for an interest rate change in section 9.2 of the Savings Account Terms. We’ll give you at least 14 days’ notice if the rates are going down and your balance is £100 or more. Otherwise we’ll tell you before or shortly after the change. You can find more details about how we’d tell you about a change in section 9.2 of the Savings Account Terms.

• You must be a UK resident aged 16 years or over and already have a current account with us, or apply for a current account with us at the same time.
• We will also need your email address and mobile number to open your account and send you important account opening documents.
• You can only have one Savings Builder Account in your sole name, and only one Savings Builder Account in joint names with another person. 
• You can open and manage your account on our mobile app, online or by telephone.
• To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.
• You can pay money in by transfer from a current account or savings account in your name held with us or held with another bank (Online, by telephone or on the mobile app).
• No minimum deposit is required to open the account; and there is no maximum balance limit.
• Each month your balance must grow by at least £50 to earn interest. If your balance grows by less than £50 in any month, you will not earn interest. If a regular payment is received after the second last business day of the month it will count towards the following month.
• If you close your account, you will not earn interest for the month of closure.