BM Savings Online Extra (Issue 22) Yearly Interest
|Branch access||Online account||Minimum saving amount||Maximum saving amount||Interest paid|
Whether you can operate the account through a bank branch.
Whether the account can be managed online.
The minimum amount you have to keep in the account.
The maximum amount you can keep in the account.
How often interest is paid.
BM Savings customer satisfaction scorecard:How do we work this out?
|Clarity of statement||Interest rate information||Regular contact||Customer service||Overall customer score|
|Minimum saving amount||£1|
|Maximum saving amount||N/A|
|Minimum initial deposit||£1,000|
|Restricted locations note||N/A|
|Existing customer note||N/A|
|Account type||Instant Access|
|ISA transfers allowed||No|
|Minimum regular monthly deposit||N/A|
|Maximum regular monthly deposit||N/A|
|Notice period||0 days|
|Account fee charged||N/A|
|Part of FSCS||Yes|
|FSCS note||The first £85,000 per person, per UK banking licence, is protected by the Financial Services Compensation Scheme (FSCS). Under the UK Scheme if you have also borrowed from the failed bank or building society, the compensation will not be reduced to repay your debt. Separate arrangements will be made for this. Some banks and building societies share the same banking licence. Where this is the case, your £85,000 protection is across all the companies sharing the licence, not each individual company.|
|Interest paid type||Paid Away or Compound|
|Introductory bonus note||N/A|
|Conditional bonus note||A fixed bonus will be paid for the first 12 months from the date of your first deposit as long as the balance remains £1,000 or over. For everyday in the first 12 months the balance is less than £1,000 the interest rate you will receive will be 0.05% gross/AER variable. The interest rates shown include a 12 month bonus of: 0.35% for balances from £1,000 to £24,999.99 and 0.70% for balances from £25,000+. After 12 months the the variable rate without bonus will apply, currently 0.05% gross / AER.|
|From (£)||To (£)||AER including bonus (%)||Bonus rate (%)||AER excluding bonus (%)||Interest type|