Home – Personal Savings – Hospice Affinity

Hospice Affinity

This account is designed for those who would like to give back to their local Leicestershire and Warwickshire communities as they save. Hinckley & Rugby donate 1% of the average balance held in these accounts to three local hospices at no cost to the account holder.

This account is suitable for those looking to start saving but may require access to their money without notice. This account is suitable for those who would like to save but need the convenience of being able to withdraw money quickly.

This account is not suitable for those who do not require access to their savings for a longer period of time. The increased convenience of being able to withdraw money without notice carries a lower interest rate compared to our savings accounts that require notice of withdrawal.

Rate

1.90% Gross /AER

Postcode Restricted

Access

Yes Any time

Interest

Annually

Minimum Investment

£1

About this account

What is the interest rate?

This account offers a variable rate of interest as follows:

	Annual Interest
Minimum Balance	Gross*	AER**
£1	1.90%	1.90%

Interest will be paid to the account on 1 December each year.

Can Hinckley & Rugby Building Society change the interest rate?

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

What would the estimated balance be after 12 months?

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,019.00.

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made, there is no change in interest rate, and interest is added annually. They do not take into account your individual circumstances.

How do I open and manage my account?

This account can be opened and managed by post or at any of our branches and agencies. Complete the application form and the declarations and consents. Take the completed documents and your deposit to one of our branches or agencies, or post them to us at the address in this document. Please make cheques payable to the account holder(s).

Please note, the minimum deposit must be credited to your account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.

The minimum deposit required to open and maintain this account is £1 and the maximum deposit is £500,000.

The overall maximum holding by any one member in respect of all savings accounts with the Society is £500,000.

Can I withdraw money?

Withdrawals can be made without notice or penalty. The cash withdrawal limit is £500 per day. Cheque withdrawals can be made for any amount if you have sufficient cleared funds in your account.

Money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday. Funds are available for immediate withdrawal for all other types of deposit.

Additional information

Help us raise vital funds for three local hospices: LOROS, which cares for patients from Leicestershire and Rutland, Myton Hospice, covering Rugby, and Mary Ann Evans Hospice, based in Nuneaton.

On the 1st December each year we will donate 1% of the average balances held in the account during the previous year to the hospices. It doesn’t affect your balance as it’s money donated by us. Each hospice will receive an equal share of the total donation.

Personal Savings Allowance is the amount of interest you can earn before paying tax on it. If you are a basic taxpayer, you can earn up to £1,000.00 interest without paying tax. If you are a higher rate taxpayer, you can earn up to £500.00 interest without paying tax. If you are a additional rate taxpayer, you cannot earn any interest without paying tax.

If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.

* Gross rate – the annual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.

** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.

Identification Requirements

We need to confirm the identity of every customer who applies for an account with the Society. We do this to protect you against the risk of identity fraud and to comply with money laundering regulations.

We use an electronic verification system when you open a savings account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example if you are not listed on the electoral roll or you have recently moved house).

If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.

If you think you will need to provide identification, please visit hrbs.co.uk/proving-your-identity/ for details of acceptable documentation or contact us to discuss.

IF YOU ARE UNDER 18

We will need to see either your birth certificate or passport, and a document confirming your address. This could be a bank statement or utility bill and can be in the name of a parent or guardian living at the same address if not available in your name. These documents need to be originals, not photocopies, and they will be returned to you as quickly as possible.

If a nominee is registered on the account the document to confirm your address is not required.