Account name: eSavings
1. What is the interest rate?
|Balance||AER/Gross p.a. (variable)|
The maximum balance is £5 million. Interest is calculated daily and paid on the last business day of the month and at account closure.
2. Can Ulster Bank change the interest rate?
Yes, this rate is variable. We can increase or decrease the rate for any of the reasons set out in the Ulster Bank Personal banking – terms and conditions.
Please see General Conditions 11.1 and 11.2 of the Ulster Bank Personal banking – terms and conditions for more details on when we may change the interest rate and the notice that we’ll give you.
3. What would the estimated balance be after 12 months based on a range of deposits?
|Initial deposit at account opening||Balance after 12 months||Interest earned|
These are only examples and do not take into account your individual circumstances. The examples assume that:
- No further deposits or withdrawals are made,
- There is no change to interest rate and
- Any interest earned stays in the account.
4. How do I open and manage my account?
- You must be aged 18 years or over and a UK resident
- You can only open your account online
- You can manage your account online through Anytime Banking, by telephone and by using our mobile app
- You can only pay money into your account by online transfer
- You must register for the Anytime Banking services to manage your account via online, telephone or on the mobile app
- There is no minimum deposit required to open the account, however there is a maximum balance limit of £5,000,000
5. Can I withdraw money?
Yes. No notice is required.
You can withdraw money by online transfer, on the mobile app or through telephone banking.
You will need a card and a card reader to withdraw money from your account. You must order and enable your card reader through Anytime Internet Banking. An Anytime Banking card and PIN will be automatically provided for use with the card reader if you do not have an existing Ulster Bank debit card.
Please note there are daily limits on the amount that can be transferred out of your account online, through telephone or mobile banking. Here is more information on the current daily limits and how to withdraw amounts in excess of the daily limits, for more information contact Anytime Telephone Banking.
6. Additional information
We do not deduct tax from the interest we pay to you. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate - The interest rate you are paid without the deduction of income tax.
p.a. Per annum (per year).