Deposit Calculator
What could you get?
The estimated interest is for illustrative purposes only and assumes your savings are paid in on the 1st January and no further deposits or withdrawals are made. It doesn’t consider any individual circumstances. All interest rate information should be read in conjunction with the full product information and general terms and conditions for savings accounts. For products with a tiered interest rate – the calculation displayed is based solely on the highest interest rate available shown within the product. Please refer to the individual product terms and conditions for full details regarding tiered interest rates and withdrawals.
This account is for you if:
Regular savings helps build a consistent monthly savings habit
You are comfortable with variable rates
You accept the possibility of the interest rate fluctuating, as opposed to a fixed rate
You have a specific time frame: You are looking to save for a goal over a certain time period
Summary Box
Please note: this account is only available via Harpenden Online – it is not available to open by branch or by post.
Here’s more information about the product
18-30 Regular Saver (Issue 1)
6.00% Gross PA/AER (Variable).
Interest is calculated on a daily basis and added to your account on maturity, 12 months after initial deposit, or upon early closure.
Yes, we have the right to vary the rate of interest. If we decrease the interest rate, we will notify you 14 days in advance of the change.
Please refer to Condition 7 of our General Terms and Conditions for Retail Savings Accounts (also available in our branches) which sets out the reasons for which we may change the rate and the procedure for doing so.
Amount saved: £2,400
Interest earned: £77
Balance after 12 months: £2,477
This projection is based on:
• An initial deposit of £200 made on the first day of the month.
• 11 further deposits of £200 made on the 1st of each calendar month thereafter.
• No withdrawals made during the term.
Please note: This projection is provided for illustrative purposes only and does not take into account customers individual circumstances.
This account can only be opened in your sole name. Joint applications are not accepted. You must be between 18 and 30 years old at the time of application and a UK resident and may only hold one 18-30 Regular Saver account with us.
This account can only be opened on Harpenden Online via our website, it is not available to open in branch or by post.
Minimum balance: £10
Maximum monthly deposit: £200
(Depositing more than £200 will result in the overpaid funds returned to you).
After 12 months, your account will mature.
In advance of maturity, we will send you your options, including alternative accounts. If we do not hear from you, we will transfer your funds into an instant access account. You can let us know by signing and returning the instruction form we send to you with your maturity letter, by contacting us by secure message through Harpenden Online or by calling us directly.
Please note that you must fund the account with the minimum balance of £10 within 30 days of account opening, otherwise your application may be cancelled.
Please follow the guidance in our ‘Identification Requirements’ document also available in branch.
You can manage this account online (subject to the terms and conditions of Harpenden Online).
Deposits can be made by bank transfer only.
How much can I save?
You can open this account with a minimum of £10 and save up to £200 each calendar month. Assuming you deposit the maximum £200 each month, make no withdrawals and do not miss any monthly deposits you will have £2,400, before your interest is added. You are entitled to vary the amount deposited each month and you will still receive the full advertised interest rate, even if in some months you do not deposit any funds. Please note that any missed months cannot be carried forward.
Yes, you do not have to give notice to make a withdrawal or close your account. Withdrawals can be made without loss of interest.
You will not be permitted to reduce the balance in your account to less than the minimum balance, unless you are closing the account.
Withdrawals can be requested using Harpenden Online which allows a maximum £50,000 via faster payment into a nominated bank account per day (above that amount via CHAPS, which will incur a fee). Payment requests must be submitted by 3.00pm. Requests received after this time will be processed the following working day.
Payment requests received after this time will be processed the following working day.
Interest is paid gross without tax deducted. Some savers may be required to pay tax on their savings interest – this should be arranged directly with HMRC through your tax return. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The Society reserves the right to withdraw this product without notice at any time.
* The gross rate (PA) is the rate before deducting tax at the rate applicable to savings income. The annual equivalent rate (AER) is a notional rate which illustrates what the gross interest rate would be if the interest was paid and added to the account annually.
The information contained in this table forms part of the terms and conditions of the account and should be read in conjunction with our General Savings Account Terms and Conditions for Retail Savings Accounts.
Frequently Asked Questions
Here’s some helpful advice and guidance
Please check within Harpenden Online, or your local branch or call our Member Services Team on 01582 765411 to confirm product availability.
It is important that you read the FSCS information sheet. It provides you with information about the protection of your savings deposits. Eligible deposits with the Society are protected by the Financial Services Compensation Scheme (FSCS).
These savings products are covered by the FSCS.
You can open an account for yourself via Harpenden Online.
You cannot open an account within Harpenden Online on behalf of another person.
Should you wish to open or operate an account on behalf of another person due to holding a Power of Attorney or Court of Protection Order you will need to obtain a copy of our form ‘Operating an Account for Someone Else’. This is available in branch or can be downloaded from our ‘useful forms and documents’ page.
This document should be returned with your completed application form by post to any of our branches or Head Office.
If you have reason to complain about the service that you receive you should contact the Branch Manager at your local branch or our Savings Operations Manager at Head Office either by telephone or in writing.
You can email us via: memberservices@harpendenbs.co.uk
Full details of the complaints procedure can be found in the General Terms and Conditions for Retail Savings Accounts.
If you open a new account and then change your mind, then as long as you tell us at any of our branches or our Head Office within 14 days after the contract is entered into (or, if later, 14 days from the day you first receive, on paper or electronically, the terms and conditions and other information relating to it) you can
• have your money back; or
• switch to another available account
In this case, you will not have to
• give any period of notice;
• lose any interest on the account you are closing; or
• pay any other charges
Once your account is open you can keep up to date with your savings balances and manage your savings accounts securely online by registering for ‘Harpenden Online’.
• Manage your accounts 24 hours a day 7 days a week
• Check the balance of your account(s) and view your transaction history
• Talk with us over the internet through our secure message system
• Request to transfer money directly by electronic payment to a nominated bank account (Maximum £50,000 per day)
• Request to transfer money between your Harpenden Building Society accounts
- Data Protection regulations require Harpenden Building Society (the Society) to inform customers about how their personal data will be processed
- Personal data includes customer’s name, addresses, financial information and other personal information needed for opening an account
- The Society will restrict its processing of your personal data to the minimum required to open and manage your account, update you on your account status and inform you of any new savings products
- Your personal information will be processed to comply with the Society’s legal and regulatory obligations, to ensure that we continue to operate in a way to safeguard your investment
- The Society will not send you marketing material on any other services and will not share your personal details with any other organisation for marketing purposes, without your consent
- Your personal details will be stored securely by the Society and its specialist suppliers, in countries that have equivalent data protection rules, and will only be used to communicate with you whilst you have an account with the Society
- Further information on how the Society handles your personal data is available under the ‘Privacy’ menu option on the website
- You are entitled to request the Society to restrict its use of your personal data. If you have any questions about how we manage your personal data, or wish to complain about this, please contact the Data Protection Officer in the first instance at: privacy@harpendenbs.co.uk
- If you are not satisfied with the handling of your complaint by the Society, you can also make a complaint to the Information Commissioner’s Office on: ico.org.uk
You can view our Privacy Policy in full here: Privacy Policy – Harpenden Building Society
For our members
How can we help you today?
Resources for 18-30 Regular Saver
Here are some links to useful forms and documents.
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