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Dudley Building Society > Savings > Aquila Variable Rate Bond

Aquila Variable Rate Bond

Interest Rates (Effective from 01/05/12)
Amount*Annually Gross % PA*Annually Net % PA*Monthly Gross % PA*Monthly Net % PA*A.E.R Rate % PA
£10,000+3.00%2.40%N/AN/A3.00%
£5,000+1.50%1.20%N/AN/A1.50%
Main Features
Available To:Existing customers and new customers who are personal savers resident in the U.K.
Investment:Minimum: £5,000. Maximum: £500,000 (representing the overall limit for savings with the Society for each individual). No further payments may be paid during the 12 month term once the initial investment has been made.
Withdrawals:No partials withdrawals or early closure are allowed in the 12 month period with this account.
Interest:Interest paid on maturity of the account at the end of the one year term.
Other Criteria:Your Aquila Variable Rate Bond has a fixed term and will mature 365 days from the date of opening.

Notes

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
  • Gross is the interest paid before the deduction of income tax at the rate specified by law.
  • Net is the interest paid after the deduction of income tax at the rate specified by law.
  • Interest will be payable net of income tax at the rate required by law. Tax may be reclaimed from HM Revenue & Customs where the amount deducted exceeds an investor's liability to tax (if any). Individuals who are liable at the higher rate of income tax of 40% will have to pay additional tax on the interest to cover the difference between the tax deducted and the higher rate of tax due.
  • If you are entitled to receive your interest gross, complete the HM Revenue & Customs form R85 in accordance with HM Revenue & Customs regulations and forward to your nearest Dudley Building Society branch.
  • The interest rate is variable and not linked to any of the Society's other savings rates.
  • This information should be read in conjunction with the account Terms and Conditions, Members Guide and the Interest Rate Guide.
  • Full Terms and Conditions of Dudley Building Society savings accounts are available on request.

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