Clarets saver
Marsden Building Society has teamed up with Burnley Football Club to bring you the Clarets saver account.
You will receive an attractive rate of interest on your savings and your Club will receive an annual donation from the Society.
Interest rates - Clarets saver (from 22 March 2011)
| Balance | Gross | AER | Net |
|---|---|---|---|
| £25,000+ | 0.50% | 0.50% | 0.40% |
| £2,500+ | 0.30% | 0.30% | 0.24% |
| £100+ | 0.15% | 0.15% | 0.12% |
| £25+ | 0.10% | 0.10% | 0.08% |
| Key features | |
|---|---|
| Interest rates: | See above, rates are variable. |
| Tax status: | Interest normally paid net after deduction of income tax or gross subject to certification |
| Conditions for bonus payment: | N/A |
| Withdrawal arrangements: | Instant access, subject to normal operating limits displayed in branch |
| Access: | Branch |
| Minimum opening balance: | £100 |
| Maximum investment: | £250,000 single £500,000 joint |
| Eligibility: | Account has to be opened in person at a branch. Postcode restrictions do not apply. |
| Interest payment: | Paid annually on 31 March No interest paid on balances below £25 |
| Annual donation: | 1% of the total average balance of all Clarets Savers accounts donated to Burnley Football Club |
| Payment account: (Payment Services Regulations 2009) |
No Please refer to 'Payment Transactions and Services leaflet' |
To view the general savings account terms & conditions, please click here
Gross means the contractual rate of interest payable not taking account of the deduction of income tax at the appropriate rate.
Net rates are illustrative only and allow for deduction from gross rate of income tax at the specified rate i.e. assuming rate of income tax at 20%.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Tax Free is the contractual rate of interest payable where interest is exempt from income tax.
