Suffolk Savvy Saver (Issue 3)
Suffolk Savvy Saver (Issue 3)
£1,000 – £19,999 0.70% Gross*/AER**
Interest is added to the account annually on 1 December or can be paid into another Suffolk Building Society account or direct to your bank account.
When your balance moves into the higher interest rate tier, you will receive interest on the whole balance at the higher rate. If you make a withdrawal that takes you into the lower tier rate is paid on the whole balance.
Can the Society change the interest rate?
The interest rate is variable, which means we reserve the right to change them to reflect market conditions, to comply with legal or regulatory guidelines and the protect the long-term future of the Society.
We will give you 14 days’ notice before any change that would disadvantage you, providing you have a minimum balance of £100 at the time of writing. For full details please read our General Investment Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?
Based on the current rate of interest, if you deposited £1,000 into this account, after 12 months you would have £1006.50.
(This figure is only an estimate, based on there being no additional deposits or withdrawals in that time with all interest being added to your account. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)
How do I open and manage my account?
To open this account:
To open an account, you must complete the appropriate application form. You can visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. You will be asked to provide proof of identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Verifying your name and address’ leaflet. Alternatively, our staff will give you full details.
If you change your mind:
How do I manage my account:
Can I withdraw money?
• You can make one penalty free withdrawal between 1 December and 30 November each year. This can include closure of our account.
AER (Annual Equivalent Rate)**
Changes to these terms
Financial Services Compensation Scheme
Retail Banking Conduct of Business
Open your savings
To open a new account, you must be an existing member or a new applicant resident in our local postcode areas IP, NR, CO, CM, CB and PE.
If you’re ready to open your savings account by post you’ll need to do the following:
- Download, read and accept the product terms and conditions
- Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
- Read and retain the Privacy Notice
- Print the application form by clicking this link, fully complete and sign it. Then email it to us or pop into branch
We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete. Read more about proof of your identity by clicking here.
Completed application forms should be posted to Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.
Suffolk Savvy Saver – Terms and ConditionsDownload
INV3 Savings Application FormDownload
FSCS Information SheetDownload
Proof of your identityDownload
Customer Savings Information FAQsDownload
General investment terms & conditionsDownload
Standing order formDownload
Savings tariff of chargesDownload
Guidance for people wanting to manage a bank account for someone elseDownload