eSaver 95 account (issue 1)
The Marsden eSaver 95 account is specifically designed for our personal customers who want the convenience of being able to operate their accounts online.
eSaver 95 account (issue 1) Interest rates - from 22 March 2011
ANNUAL RATE
| Balance | Gross | AER | Net |
|---|---|---|---|
| £25,000+ | 3.05% | 3.05% | 2.44% |
| £5,000+ | 2.80% | 2.80% | 2.24% |
| Balance | Gross | AER | Net |
|---|---|---|---|
| £25,000+ | 3.01% | 3.05% | 2.41% |
| £5,000+ | 2.76% | 2.80% | 2.22% |
| 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: |
Electronic transfer - 95 days notice. It is not possible to withdraw funds immediately by paying a penalty equivalent to 95 days interest. |
| Access: | Online |
|
Opening/operating balance: |
£5,000 |
| Maximum investment: | £250,000 single |
| Additional investments: | Electronic transfer. Please quote sort code 60-94-95 and the last eight digits of your eSaver account number |
| Eligibility: | Personal customers aged 18+ |
| Interest payment: | Paid annually on 31 March or monthly to nominated bank account |
| Record of investment: | No passbook will be issued. Transaction history, statments and tax certificates available online |
|
Payment account: |
No |
To view the Marsden online terms & conditions, please click here
To view the eSaver 95 account terms & conditions, please click here
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.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
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%. Interest is normally paid at the net rate other than if the account holder is entitled to receive interest gross and has registered an R85 (relevant form), or the account is exemp from income tax.
Tax Tax free is the contractual rate of interest payable where interest is exempt from income tax.
