The C&G Guaranteed Branch Saver is a simple branch-based savings account with an interest rate guarantee until 1 July 2011.
Also you’ll be rewarded with the same rate of interest no matter how much money’s in your account, so even if you only save a little, you won’t miss out with a lower interest rate.
To open an account, simply visit any C&G branch.
| Annual interest | Gross % iii | AER % i | Net % ii |
|---|---|---|---|
| £0+ | 4.75 | 4.36== | 3.80 |
| Monthly interest | Gross % iii | AER % i | Net % ii |
| £0+ | 4.65 | 4.36== | 3.72 |
Interest rates effective from 01/11/08
i AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
== The AER for the C&G Guaranteed Branch Saver reflects the charge levied when withdrawals are made
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%).
We may change the rates on this account at any time (subject to the guarantee). If we change the rate, we will tell you using at least one of the ways set out in your account's conditions. Where under the terms of an account, a change in the Bank of England base rate requires us to change the interest rate, we will always make the change within 30 days of the change to the base rate.
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, therefore please reload the page if viewing offline or through stored information on your computer.
| Account name: C&G Guaranteed Branch Saver | |
|---|---|
| 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. We guarantee that the gross annual interest rate we pay on this account will be no lower than 0.25% below the Bank of England base rate until 1 July 2011. |
| 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 | 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. You will pay a charge equivalent to 30 days’ gross interest on the amount you withdraw. We will deduct it from your account balance. |
| Access | Any C&G branch. |
The following important information for the C&G Guaranteed Branch Saver product should be read in conjunction with the C&G Savings Handbook.
At any C&G branch
Minimum additions - no minimum
Maximum additions - £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)
Minimum withdrawal - no minimum
Maximum withdrawal - £1,000 cash a day and £100,000 by cheque
All withdrawals are subject to a charge equivalent to 30 days' gross interest on the amount withdrawn (which will be deducted from your account balance). If a withdrawal is made, the advertised interest rate will not be achieved.
The variable annual interest rate is guaranteed to be no lower than 0.25% below the Bank of England base rate until at least 1 July 2011.
If, as a result of an increase in the Bank of England base rate, the interest rate paid on the account becomes lower than 0.25% below it, then we'll increase the interest rate on the account within 30 days of the change to the base rate.
Interest can be paid annually or monthly:
straight into your C&G Guaranteed Branch Saver, 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. 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.
The same thing applies to the guarantee on this account. The guarantee that the interest rate will not be lower than 0.25% below the Bank of England base rate applies to annual interest. If you choose to receive monthly interest, the guarantee will be slightly lower. But by maintaining the same AER for the annual and monthly rates, the guarantees will be equivalent whichever interest option you choose.
A C&G Guaranteed Branch Saver 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 all be saving as individuals (not on behalf of a company, club, charity, trust etc) and your permanent home must be in the UK.
Saving at a branch - 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
C&G Savings is a division of Lloyds TSB Bank plc.
Lloyds TSB Bank plc is authorised and regulated by the Financial Services Authority (FSA). Our FSA register number is 119278. You can check the FSA's register by visiting their website or by contacting them on 0845 606 1234. Lloyds TSB Bank plc is registered in England and Wales No.2065. Registered Office: 25 Gresham Street, London, EC2V 7HN.
*We may monitor and/or record telephone calls in case there's a need to check that your instructions have been carried out correctly and to help improve our service quality.
