Need easy access to savings
Want to operate in branch or online
Live in an eligible postcode
Want a fixed rate of interest
Are under the age of 18
Account Name
Easy Access
What is the interest rate?
3.05% Gross*/AER*
Interest is calculated daily and added to your account annually on the 31st March.
Can the Vernon Building Society change the interest rate?
Yes, the rate is variable. That means we can move it, up or down.
Section 10 of our ‘General Savings Account Terms and Conditions’ explains when we can do this, and how we’ll let you know.
What would the estimated balance be after 12 months based on a £1,000 initial deposit?
£1,030.50
This projection is provided for illustration only and does not consider individual circumstances. This assumes an initial deposit of £1,000, no further deposits or withdrawals being made over a 365-day period starting from the 1st April, and that the interest rate does not change.
How do I open and manage my account?
This account is only available to UK residents aged 18 or above, living in the following postcodes: BL, CH, CW, M, OL, SK, WA or WN.
You can open an account using our Online Services, in branch or by downloading an application form from our website and emailing or posting it to us.
You can operate your account in branch and through our Online Services.
A minimum deposit of £100 is required to open the account. The maximum balance is £250,000.
Deposits can be made in branch by cash or cheque, standing order or online banking.
Can I withdraw money?
Withdrawals from the account can be made in branch, over the telephone or through our Online Services.
Withdrawals in branch can be made by cash, cheque, or Faster Payment. Withdrawals over the telephone or through Online Services will be sent by Faster Payment directly to your nominated bank account or to another Vernon Building Society account in your name.
There is no minimum withdrawal amount for this account. However, some balance must remain to avoid it being closed.
Please also refer to section 12 of the General Savings Terms & Conditions brochure for further information.
Additional information
The information contained in this summary box forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms & Conditions.
AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross
The interest rate without tax deducted.
Personal Savings Allowance (PSA)
You may need to pay tax on any interest that takes you over your PSA. The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change. For more information, visit hmrc.gov.uk
Book an appointment to speak with one of our friendly advisers in-branch or over the phone.
BOOK AN APPOINTMENTPrint and complete this form and email to: info@thevernon.co.uk or post to your nearest branch.
DOWNLOAD FORMDid you know that your eligible deposits with the Vernon are protected up to a total of £85,000 (£170,000 for joint accounts) by the Financial Services Deposit Scheme (FSCS), the UK's deposit guarantee scheme?
Learn more about the FSCS