C&G Branch 10

Main features

Branch-based with a passbook.
Lets you add and withdraw money in cash (up to £1,000 a day) or by cheque at any C&G branch.
Gives you access to your money without notice and ten free withdrawals a year. After that, there’s a charge equivalent to 10 days’ gross interest on the amount withdrawn.
Lets you choose to have your interest paid annually or monthly.

Interest rates on this account

Current rates

Annual Interest
Your savings amount	Gross % iii	AER % i	Net % ii
£1,000+	0.50	0.50	0.40
£0-£999	0.25	0.25	0.20

Monthly Interest
Your savings amount	Gross % iii	AER % i	Net % ii
£1,000+	0.49	0.50	0.39
£0-£999	0.24	0.25	0.19

Interest rates effective from 01/01/09

Previous rates

Annual Interest
Your savings amount	Gross % iii	AER % i	Net % ii
£1,000+	1.50	1.50	1.20
£0-£999	0.25	0.25	0.20

Monthly Interest
Your savings amount	Gross % iii	AER % i	Net % ii
£1,000+	1.49	1.50	1.19
£0-£999	0.24	0.25	0.19

Interest rates effective from 01/12/08

Key product information for our savings accounts

Account name: C&G Branch 10
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.
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% ie 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 ie Gross. You will first need to complete HM Revenue & Customs form R85.
Conditions for bonus payment	Not applicable on this account.
Withdrawal arrangements	You can withdraw money at any C&G branch and do not have to give any notice. The maximum cash withdrawal is £1,000 per day. The maximum withdrawal by cheque is £100,000 per day. The first 10 withdrawals each year are free. After that, there is a charge equivalent to 10 days’ gross interest on the amount withdrawn.
Access	Any C&G branch.

You should read the following important information about the C&G Branch 10 account together with the C&G savings handbook.

Receiving interest

There are two interest rate tiers on this account – up to £1,000 and then a higher rate on savings of £1,000 or more. We can pay you interest annually or monthly:
• straight into your C&G Branch 10 account (compounded), or
• into your nominated bank/building society account, or
• into another C&G savings account.

Adding and withdrawing money
Making additions

At any C&G branch.

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.

Making withdrawals

Minimum withdrawal – no minimum.
Maximum withdrawal – £1,000 cash a day / £100,000 a day by cheque.

The first ten withdrawals you make each year are free. Further withdrawals in the year will be subject to a charge equivalent to 10 days’ gross interest on the amount you withdraw.

Who can hold one of these accounts?

A C&G Branch 10 account can be just in your name, or it can be a joint account with up to three other people, but however many people are named on the account, 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.

Saving at a branch - click here
Additions and withdrawals - 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
Financial Services Compensation Scheme - click here
Interest rate changes - click here

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 C&G Branch 10 account rates are variable and we may change the rates on this account at any time. If we change the rates, 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.

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.