C&G Bonus Tracker

Main features

Operates by telephone, as well as letting you pay in money by post or at any C&G branch
Gives you access to your money without notice
Offers tiered interest rates - so the more you save, the more you earn
Rewards you with an attractive bonus for the first six months, with a bigger bonus for existing C&G mortgage customers
Lets you choose to have your interest paid annually or monthly

Interest rates on this account

Current rates

Annual interest with bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.10	1.85^	1.68
£25,000-£49,999	1.95	1.70^	1.56
£10,000-£24,999	1.80	1.55^	1.44
£1,000-£9,999	1.65	1.40^	1.32
£100-£999^^	0.50	0.50	0.40

Monthly interest with bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.08	1.85^	1.66
£25,000-£49,999	1.93	1.70^	1.54
£10,000-£24,999	1.78	1.55^	1.42
£1,000-£9,999	1.63	1.40^	1.31
£100-£999^^	0.49	0.50	0.39

Annual interest with loyalty bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.20	1.90^	1.76
£25,000-£49,999	2.05	1.75^	1.64
£10,000-£24,999	1.90	1.60^	1.52
£1,000-£9,999	1.75	1.45^	1.40
£100-£999^^	0.50	0.50	0.40

Monthly interest with loyalty bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.17	1.90^	1.74
£25,000-£49,999	2.03	1.75^	1.62
£10,000-£24,999	1.88	1.60^	1.50
£1,000-£9,999	1.73	1.45^	1.38
£100-£999^^	0.49	0.50	0.39

Annual interest without bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	1.60	1.60	1.28
£25,000-£49,999	1.45	1.45	1.16
£10,000-£24,999	1.30	1.30	1.04
£1,000-£9,999	1.15	1.15	0.92
£100-£999^^	0.50	0.50	0.40

Monthly interest without bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	1.58	1.60	1.27
£25,000-£49,999	1.44	1.45	1.15
£10,000-£24,999	1.29	1.30	1.03
£1,000-£9,999	1.14	1.15	0.91
£100-£999^^	0.49	0.50	0.39

At the end of the six-month introductory bonus period, rates without bonus apply.

Interest rates effective from 01/01/09

Previous rates

Annual interest with bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	3.10	2.85^	2.48
£25,000-£49,999	2.95	2.70^	2.36
£10,000-£24,999	2.80	2.55^	2.24
£1,000-£9,999	2.65	2.40^	2.12
£100-£999^^	0.50	0.50	0.40

Monthly interest with bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	3.05	2.85^	2.44
£25,000-£49,999	2.91	2.70^	2.32
£10,000-£24,999	2.76	2.55^	2.21
£1,000-£9,999	2.61	2.40^	2.09
£100-£999^^	0.49	0.50	0.39

Annual interest with loyalty bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	3.20	2.90^	2.56
£25,000-£49,999	3.05	2.75^	2.44
£10,000-£24,999	2.90	2.60^	2.32
£1,000-£9,999	2.75	2.45^	2.20
£100-£999^^	0.50	0.50^	0.40

Monthly interest with loyalty bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	3.15	2.90^	2.52
£25,000-£49,999	3.00	2.75^	2.40
£10,000-£24,999	2.86	2.60^	2.29
£1,000-£9,999	2.71	2.45^	2.17
£100-£999^^	0.49	0.50	0.39

Annual interest without bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.60	2.60	2.08
£25,000-£49,999	2.45	2.45	1.96
£10,000-£24,999	2.30	2.30	1.84
£1,000-£9,999	2.15	2.15	1.72
£100-£999^^	0.50	0.50	0.40

Monthly interest without bonus
Your savings amount	Gross % iii	AER % i	Net % ii
£50,000+	2.57	2.60	2.05
£25,000-£49,999	2.42	2.45	1.93
£10,000-£24,999	2.27	2.30	1.82
£1,000-£9,999	2.12	2.15	1.70
£100-£999^^	0.49	0.50	0.39

Interest rates effective from 01/12/08

Summary box

Key product information for our savings accounts

Account name: C&G Bonus Tracker
Interest rates (AERs)	Interest rates vary. Please view our Key Benefits, or ask for the C&G Savings Accounts & Rates booklet for full details of the current interest rates and AERs we are paying on this account. The gross annual interest rates payable on this account track the Bank of England base rate until at least 1 April 2009.
Tax status	Net or Gross If you pay income tax we will pay you interest after deducting income tax at the applicable rate, currently 20% i.e. Net. If you are a higher rate taxpayer, you will have to pay the extra due on your interest (the difference between tax deducted at 20% and the higher rate of 40%). If you are a non-taxpayer, we can pay you interest without any deduction for income tax i.e. Gross. You will first need to complete HM Revenue & Customs form R85.
Conditions for bonus payment	We will pay a 0.50% interest rate bonus for the first six months that the account is open. We increase this bonus to 0.60% for the first six months for C&G mortgage customers. We do not pay a bonus during any period when the balance is below the £1,000 minimum opening balance.
Withdrawal arrangements	You can make withdrawals via the C&G Telephone Transaction Service. We pay the money into your nominated bank account by electronic transfer. You do not have to give any notice of withdrawals.
Access	You can make additions by telephone, post or at any C&G branch. You can make withdrawals by telephone.

You should read the following important information about the C&G Bonus Tracker together with the C&G savings handbook.

A bonus rate for six months

You’ll get an extra 0.50%* interest rate bonus for the first six months your account is open.

Plus, a loyalty bonus for C&G mortgage customers

If you have a C&G mortgage, we’ll increase the bonus to 0.60%* for the first six months.

Receiving interest

The C&G Bonus Tracker interest rates are tiered and will move in line with any changes in the Bank of England base rate until at least 1 April 2009 as shown here:

Interest rate tiers	Tracking rates*
£1,000 - £9,999	Tracks at 0.85% below the Bank of England base rate*
£10,000 - £24,999	Tracks at 0.70% below the Bank of England base rate*
£25,000 - £49,999	Tracks at 0.55% below the Bank of England base rate*
£50,000+	Tracks at 0.40% below the Bank of England base rate*

* The tracking and bonus rates shown above apply to annual interest (before tax) and will slightly differ if you choose monthly interest (see below).

We can pay you interest annually or monthly:

• straight into your C&G Bonus Tracker account (compounded), or
• into your nominated bank/building society account, or
• into another C&G savings account

The interest rate for monthly interest is slightly lower than the annual rate. This is because monthly interest is paid more frequently. This also applies to the bonus rate on this account. However, we will ensure that the Annual Equivalent Rate (AER), which illustrates what the interest rate would be if the interest was added to your account once each year, is always the same for both the annual and monthly rate, both with and without the bonus.

The same thing applies to the tracking rates on this account. The tracking rates - the difference we will maintain between the account’s interest rates and the Bank of England base rate - apply to annual interest. If you choose to receive monthly interest, the difference between the account’s rates and the base rate will be slightly wider. But by maintaining the same AER for the annual and monthly rates, the difference will be equivalent whichever interest option you choose.

Adding and withdrawing money

Making additions

At any C&G branch
By post (cheque only)
By phone

Minimum addition - no minimum
Maximum addition - £1,000 cash a day/no maximum for cheques. The maximum you can save in all C&G savings accounts in total is £3 million.

You'll need to set up a direct debit to add to your account by phone - it takes around 14 days before you can make your first payment. You can complete a direct debit instruction at the same time you open your C&G Bonus Tracker account.

Making withdrawals

When you make a withdrawal, it's always done by phone. We transfer the money electronically from your C&G Bonus Tracker account to your nominated bank/building society account.

Minimum withdrawal - no minimum
Maximum withdrawal - total cleared balance

Who can hold one of these accounts?

A C&G Bonus Tracker account can be just in your name, or it can be a joint account with one other person, but you must be saving as individuals - not, for example, on behalf of a company, club, charity or trust - and your permanent home must be in the UK. You must also be over 18. You can only hold one C&G Bonus Tracker account at any time whether it's in your sole name or joint names.

If you close your C&G Bonus Tracker account, you will be unable to open another C&G Bonus Tracker account for six months.

Saving at a branch - click here
Saving by post - click here
Additions and withdrawals - click here
Telephone Transaction Service - click here
ID requirements - click here
The clearing cycle - click here
The Banking Code -click here
What if I change my mind? - click here
Closing an account - click here
Dormant accounts - click here
Direct Debit Guarantee - click here
Financial Services Compensation Scheme - click here
Interest rate changes - click here

The C&G Bonus Tracker ‘with bonus’ annual interest rates include a 0.50% bonus for the first six months.
The C&G Mortgage Customer Loyalty Bonus ‘with bonus’ annual interest rates include a 0.60% bonus for the first six months.
No interest is paid on balances less than £100

i AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

ii Net interest is paid or credited after deduction of income tax at the lower rate of 20%.

iii Gross interest is the rate payable before the deduction of income tax and can only be paid or credited subject to the required certification. Interest cannot be paid gross to individuals not ordinarily resident in the UK for tax purposes. Individuals whose income falls within the basic rate band will have no more tax to pay on their interest. Individuals who are higher rate taxpayers will have to pay the extra tax due on their interest (the difference between tax deducted at 20% and the higher rate of 40%).

^ The AER for C&G Bonus Tracker reflects the six-month bonus payable following the opening of the account.

^^ Interest rates for this tier are the default rates paid when the account balance falls below the minimum stated balance.

When the Bank of England base rate changes, we'll change the interest rate on the account (which could be up or down) within 30 days. This change is usually made on the 1st of the following month and will coincide with the day we change our Standard Variable Mortgage Rate for existing C&G mortgage customers. If we change the rate, we will tell you using at least one of the ways set out in your account's conditions.

Rate changes to a C&G account or to other generally available accounts can affect an account's relative competitiveness and we do not promise that our rates will be better than those available elsewhere. If your balance falls below the minimum shown in the tables, please refer to the conditions of the account or ask for details.

Products and rates can change frequently and without notice. So please reload the page if you are viewing offline or through stored information on your computer.