This account is no longer available to open. This product information is for existing account holders.
60 Day Direct
Up to date rate information can be found on our Interest Rate Notice
Interest is calculated daily and added to your account annually on the 31st March.
Yes, the rate is variable. That means we can move it, up or down.
Section 10 of our ‘Terms & Conditions for Savers’ explains when we can do this, and how we’ll let you know.
You can operate your account by post and through our Online Services.
The maximum balance allowed in this account is £250,000.
Deposits can be made by post by cheque, standing order or online banking.
You should notify us by post or via Online Services, specifying the amount you wish to withdraw, 60 days before making a withdrawal. If this falls on a non-working day, the withdrawal will be made on the next working day. Withdrawals without notice are permitted but any requested without notice will result in 60 days’ loss of interest on the amount withdrawn.
Withdrawals by post can be requested by completing a withdrawal slip and posting to us using the prepaid envelopes provided.
Withdrawals will be sent by Faster Payment directly to your nominated bank account or to another Vernon Building Society account in your name. A minimum balance of £10 must remain after a withdrawal.
Each time a transaction is carried out on your account we will issue a transaction advice slip giving details of the transaction and a balance update.
The minimum withdrawal you can make from this account is £250.
Please also refer to section 12 of the Terms & Conditions for Savers brochure for further information.
If you need more stationery to continue making withdrawals, please contact our Customer Services team on 0161 429 6262 or by emailing customerservices@thevernon.co.uk
The information contained in this product summary forms part of the terms and conditions of the account and should be read in conjunction with our Terms & Conditions for Savers.
AER
(Annual Equivalent Rate) differs from the Gross annual interest rate if interest is paid more than once a year. If interest is added to the account, it also earns interest, and the AER reflects this by showing the rate as if interest were paid annually.
Gross
This means we do not take income tax off the interest.
Personal Savings Allowance (PSA)
You may need to pay tax on any interest that takes you over your PSA. The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change. For more information, visit hmrc.gov.uk
Did you know that your eligible deposits with the Vernon are protected up to a total of £120,000 (£240,000 for joint accounts) by the Financial Services Deposit Scheme (FSCS), the UK's deposit guarantee scheme?
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