| Account name | Easy Saver Account | |
| What is the interest rate? |
Annual Gross*/AER** 0.16% / (Variable) |
Monthly Gross*/AER** 0.16% / (Variable) |
| Interest paid on: the anniversary of the initial deposit into your account (or if interest is to be paid to your nominated account then on the next business day if it doesn't fall on a business day) | Interest paid on: the day of the month of the initial deposit into your account (or if interest is to be paid to your nominated account then on the next business day if it doesn't fall on a business day) | |
| Can Ikano Bank change the interest rate? |
Yes - Our Easy Saver has a variable interest rate. In the unlikely event that we need to make any changes that are not to your advantage, we'll give you at least 30 days' notice. Please refer to point 83 of our Savings General Terms & Conditions which sets out the reasons for which Ikano Bank may change the interest rate. |
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| What would the estimated balance be on the first anniversary of account opening based on a £1,000 deposit? |
Annually £1,001.60 |
Monthly £1,001.60 |
| Please note: This projection is provided for illustrative purposes only and does not take into account customer's individual circumstances. This projection is based on an initial £1,000 deposit with any interest added to the account and assumes no further deposits or withdrawals are made. | ||
| How do I open and manage my account? |
Opening your account:
Paying money into your account: |
Online only - You need to have a UK current account in your name, which you can use as your 'nominated' account. You must make one payment of at least £100 to your account within 30 days of applying. You can transfer money from your nominated account using one-off electronic payments and regular standing orders, as well as from any existing Ikano Bank savings accounts in your name. |
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Minimum Opening Deposit: £100 Minimum regular deposit: Not applicable |
Maximum Opening Deposit: £1,000,000 Maximum regular deposit: Not applicable Maximum Overall Account Balance: £1,000,000 |
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| Can I withdraw money? | Yes - This account allows you to have free, unlimited deposits and withdrawals without notice. | |
*Gross interest - From the 6th April, no tax will be deducted by us and therefore gross is the rate of interest if interest was paid and not compounded each year.
**AER - stands for Annual Equivalent Rate and illustrates what the interest would be if the interest was paid and compounded each year.
