Plane Saver

4.32 % Gross/AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.

Interest is calculated daily and is payable on maturity. Interest will be paid gross without prior deduction of tax.

The interest rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term. Should the bank amend the rate advertised before you have fully transferred funds and the rate is lower than the rate you originally ordered, we will automatically cancel your order. We will contact you if this occurs.

The estimated balance after 12 months on a deposit of £5,000 is £5,216.00. This projection is for illustrative purposes only and does not take into account individual circumstances.

To open this savings account, you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply, you must

● Be a UK resident who is aged 18 or over

● Hold a UK bank or building society account from which you will fund your application

● Have a valid mobile phone number and email address

● Have a UK National Insurance Number

Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks.

The minimum amount you can deposit is £5000 and the maximum amount you can deposit is £120000 (per product and banking institution).

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms and Conditions.

This product will automatically renew at the end of its term into a new fixed term deposit. For an original term of up to 12 months, your term deposit is automatically renewed for the same duration. For an initial duration of more than 12 months, it will be extended for 12 months. You can deactivate the automatic prolongation up to five calendar days before the maturity of the term deposit in your online banking. Should you not want the default renewal term you can choose to renew into a different term at any time once the product is open if the option is available with your bank.

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except in any exceptional circumstances agreed to by Plane Saver in its absolute discretion. This savings account does NOT operate on the basis that you can end the fixed term of your savings account prematurely and pay a fee to withdraw your funds sooner.

Transfers of funds must be received within 60 calendar days (the funding window) of your savings account application date. Any funds received after this period will be held in your Raisin Account, awaiting your instruction.

Funds must be transferred to your Raisin Account from a UK bank or building society account in your name by electronic bank transfer only, and to the exact amount pledged when you applied for the savings account.

Should you not transfer the amount you pledged before the funding window closes, your application will be cancelled. Should you transfer more than you pledged, the amount that exceeds your original pledge will be held in your Raisin Account pending your instruction.

Typically, your funds will be remitted to Plane Saver by ClearBank once the bank has confirmed your application. Depending on how your funds are transferred and the bank’s processes it can typically take around 4 business days for an ordered account to be set up and start earning interest.

To the extent that Plane Saver Credit Union Ltd holds your personal data as a result of you entering into the Fixed Term deposit, all personal data will be held in accordance with Plane Saver Credit Union Ltd Privacy policy: Privacy Statement - Planesaver (planesavercu.co.uk).

According to the bank's terms and conditions, there is a 14-day period Right of withdrawal.