SUMMARY BOX

ACCOUNT NAME

Teachers for Teachers (Issue 1)

WHAT IS THE INTEREST RATE?

Tax-Free/AER: 0.40% 

CAN TEACHERS BUILDING SOCIETY CHANGE THE INTEREST RATE?

The interest rate for this account is variable, meaning that it can be changed at any time in accordance with section 6.4, 6.5 and 6.6 of the applicable terms and conditions.

WHAT WOULD THE ESTIMATED BALANCE BE AFTER 12 MONTHS BASED ON A £5,000 DEPOSIT?

The estimated balance after 12 months based on a £5,000 deposit would be £5,020.00. This amount is based on the assumption that all terms and conditions for the account are met.

HOW DO I OPEN AND MANAGE MY ACCOUNT?

This account can be opened by post or online. After the account has been opened, it can be managed by telephone or online. The minimum opening balance for this account is £5,000.00 with a maximum investment of £100,000.00.

CAN I WITHDRAW MY MONEY?

Up to three withdrawals can be made per calendar year without notice by telephone or online. If you make more than three withdrawals per calendar year, the interest rate payable on the remaining balance for that calendar year will be equivalent to the Society's Extra Ordinary Account rate.

When you wish to make a withdrawal, you will need to contact us on 0800 783 2367 or log into your ‘My Accounts’ service to request the funds. The Society will then transfer the money to your nominated account by the Faster Payments Service.

ADDITIONAL INFORMATION

• Available to teachers (including retired teachers) and other education professionals only
• Daily interest
• Interest paid annually on 31st December
• This product may be withdrawn at any time and without notice