50 + REWARD

If you are 50 or over and require a safe but accessible place to keep your savings with a competitive rate of interest, then the 50+ Reward account could be just what you are looking for. The only thing we ask is that you keep at least £1,000 in the account and maintain a minimum transaction level of at least £1,000.

Account name

50 + Reward

Interest rates (AERs)

Annual interest	Gross	Net	AER
£1,000+	1.75%	1.40%	1.75%

Monthly interest
£1,000+	1.72%	1.38%	1.75%

The interest rate is variable. It is calculated on a daily basis and is paid either annually on the 31st March or monthly at the end of each month. Alternatively, interest can be paid directly to your bank account or to another Vernon account.

If, at any time, the balance on your account is below the minimum balance of £1,000 we will reduce the rate of interest payable to that paid on our Instant Access account.

Tax status

Interest is normally paid net after deduction of income tax or gross, subject to an individual certifying their eligibility using the HMRC form R85. If you are unsure of your eligibility to receive gross interest you can visit the HMRC website to find out more and to obtain the form R85.

Conditions for bonus payment

Not applicable

Withdrawal arrangements

Withdrawals may be made at any time by transfer or cheque without notice and without penalty. Withdrawals by cash are not available from this account. The minimum transaction amount is £1,000.

Access

Post /branch

Minimum/ maximum limits

Minimum: £1,000

Maximum: £250,000

What if I wish to withdraw or deposit less than £1,000?

For occasional smaller transactions we would recommend that you operate an Instant Access account or Postal account alongside the 50+ Reward. Internal transfers of £1,000 or more can then be easily made between these accounts as and when needed.

How To Apply

Opening an account with the Vernon could not be easier – simply read through our Terms & Conditions, complete an application form and take or post it to your nearest branch along with your initial investment and identification documentation. Click here for details of our identification requirements.

Please note that as a Society which aims to deliver products and services to local people we only accept applications from investors who live within a 25 mile radius of Stockport.

The Vernon building society has a quality of service long lost in most banking organisations.
Mr M, Cheshire

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0161 429 6262

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YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

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

Vernon Building Society is authorised and regulated by the Financial Services Authority (registration number 195475). It holds the following authorisations: to advise on and arrange mortgage business; to arrange general insurance business; and to introduce mortgage, general insurance, life assurance and investment business. You can check this on the FSA's website www.fsa.gov.uk/pages/register. We are also a participant of the Financial Services Compensation Scheme (FSCS). Details of the scheme can be obtained from www.fscs.org.uk

For independent information about financial products and services visit www.moneymadeclear.org.uk

Vernon Building Society • 19 St Petersgate • Stockport • SK1 1HF

Tel: 0161 429 6262 • Fax: 0161 429 6996 • Email: info@thevernon.co.uk