Easy Access Account
up to 4.75 % gross/AER* (variable)
- Invest from £1,000 (up to a total of £85,000 for FSCS protection)
- Annual or monthly interest options
- You can make deposits and withdrawals when you need to, without fees, notice periods or loss of interest
Please make sure you read these in full before applying.
Summary Box
Account Name
Vanquis Bank Savings - Easy Access Account (Issue 3)
What is the interest rate?
Annual Gross*/AER**
4.75 % (Variable)
4.75 % (Variable)
This rate is based on interest being paid on either
- the anniversary of the date we received your first payment into your account; or
- on the day your account closes, if earlier
Monthly Gross*/ AER**
4.65 % or 4.75 % (Variable)
4.65 % or 4.75 % (Variable)
This rate is based on interest being paid each month on:
- the monthly anniversary of us receiving your first payment into your account; and
- the date your account closes
Interest is calculated daily. When you open the account you will be able to choose whether you would like interest to be paid each
month or annually. You will also be able to choose whether you
would like interest to be paid into your account or transferred to
your nominated account.
Can Vanquis Bank Savings change the interest rate?
Yes. The interest rate is variable which means we can change it
from time to time, e.g. if the Bank of England base rate changes.
What would
the estimated balance be after 12 months
based on a £1,000 deposit?
Interest paid annually
Balance after 12 months would be
£ 1,047.50
Based on:
an annual interest rate of 4.75 %; and
a deposit of £1,000
Balance after 12 months would be
£ 1,047.50
Based on:
Interest paid monthly
Balance after 12 months would be
£ 1,047.50
Based on:a monthly interest rate of 4.65 %; and
a deposit of £1,000
Balance after 12 months would be
£ 1,047.50
Based on:
The amount above shows what the future balance of your account would be if:
How do I open and manage my account?
Opening your account:
To open your account you need
to:
be aged 18 years or over
be resident in the UK
deposit at least £1,000
deposit no more than £250,000
not have more than £250,000
saved with us across all of
your accounts
our website
Online Banking (if you are an
existing Vanquis Savings
customer)
You can apply for an account using:
Giving us instructions for your account:
You can contact us using Online
Banking, telephone, email or by
sending us a written instruction
in the post.
Minimum balance
You need to keep at least £1,000
in your account at all times.
If the balance of the account
falls below £1,000 we will ask
you to add more money to your
account within the next 30 days.
Can I withdraw money?
Additional Information
Tax Status:
Interest will be paid gross* which means no tax is deducted. It is your responsibility to pay any tax due, based on your individual circumstances.
Explanation of key interest rate
terms
* 'Gross' interest is the
contractual rate of interest.
**'AER' stands for the Annual Equivalent Rate, a notional rate which illustrates what the interest rate would be if paid and compounded on an annual basis
**'AER' stands for the Annual Equivalent Rate, a notional rate which illustrates what the interest rate would be if paid and compounded on an annual basis
These easy access accounts are a limited offer and may be withdrawn at any time. The interest rates we offer will vary from time to time, so it is important to keep a regular eye on the wider market because better rates may be available elsewhere.
This Summary Box sets out the key features of the Easy Access Account (Issue 3). For full details, please read the General Terms and Conditions and the Easy Access Account Product Information document.
