Instant Access Account

The Shepshed Instant Access Account gives you instant access to your savings with a generous rate of interest, with no strings attached.

Summary Box
Key Product Information for our Savings Accounts

Account Name

Instant Access Account

Interest Rates (AERs)

Annual interest is paid on 31^st December each year. Monthly interest is paid on last day of the month. Interest rate is tiered and variable.

For current rates, please refer to our interest rate leaflet.

Tax Status

If you are entitled to receive interest without paying income tax, fill in an Inland Revenue Form R85. You can obtain one from the Society. If you don’t know whether you can obtain interest without paying tax, ask your nearest Tax Enquiry Centre or Tax Office. If you are investing on behalf of an organisation which qualifies for gross interest, please ask for a special declaration form.

Conditions for bonus payments

Minimum investment £500.00

Minimum out of area investment £1000.00

Maximum investment £100000.00

Withdrawal arrangements

Withdrawals can be made at any time.

Access

By branch or post.

ANNUAL INTEREST

INVESTMENT (£)	GROSS %	NET %	AER %
25,000+	0.35	0.28	0.35
10,000+	0.25	0.20	0.25
5,000+	0.20	0.16	0.20
2,500+	0.15	0.12	0.15
500+	0.10	0.08	0.10

MONTHLY INTEREST

INVESTMENT (£)	GROSS %	NET %	AER %
25,000+	0.10	0.08	0.10
10,000+	0.05	0.04	0.05
5,000+	0.05	0.04	0.05
2,500+	0.05	0.04	0.05

Minimum Balance

£500

All customers living outside the Society's operating area require a minimum balance of £1000 to operate an account. The Society's normal operating area is Leicestershire, Derbyshire and Nottinghamshire.

Interest

Interest rates are tiered, so you automatically qualify for a higher interest rate as your balance increases.

Interest is paid annually on 31st December and is usually added direct to your account so that you immediately start to earn yet more interest. Alternatively, we can arrange to transfer your interest to another of our accounts, or to make payment into your bank account.

If your balance falls below £500 interest will be paid at the Society's Ordinary Share rate.

Interest rates are variable.

Withdrawals

You can withdraw your money whenever you want to without any penalties at all.

You can withdraw up to £500 in cash per day. If you want to withdraw more please let us know as special arrangements may need to be made. Cheque withdrawals may be made for larger amounts at any time.

Download Product Literature (2880 KB)

Shepshed Building Society, Bull Ring, Shepshed, Leics, LE12 9QD is authorised and regulated by the Financial Services Authority. Our Financial Services Authority registration number is 206067. You can check this on the FSA's register by visiting the FSA's website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.