Falcon Flexi-Save

Falcon Flexi-Save is a truly flexible account. It has been designed to allow for regular saving but you make the choice of when and how much you deposit. You are not restricted to investing the same amount each month and whilst you have the ability to make twelve deposits in a year, you do not have to. You choose how much and when, to suit your own requirements and your balance, no matter how big or small, benefits from one enhanced rate.

Deposits and withdrawals

The account was originally developed taking into account the requirements of a regular saver. It can still be operated in such a way, although the account has been updated to now accept your choice of deposits over the 12 month period, which could be small amounts each month, half annual deposits or one lump sum deposit each year. The only restriction regarding deposits is that the account will only accept £6,000 per calendar year. This limit is applicable to the account and the opportunity to double that limit is not available if the account is held in joint names.

You can add to your investment at any time, either at a branch or by post, or if you choose to save regularly, you could consider setting up a standing order to suit your commitments. The current interest rate will be added immediately.

As the account is aimed towards regular saving and attracts an enhanced interest rate, there are withdrawal restrictions. You may have instant access to your savings three times per year, after that, any subsequent withdrawal would require the account to be closed and the funds transferred to another suitable account type.
Withdrawals are simple and can be made at branch counters to provide cash or cheques. Postal requests offer cheques only. No notice of withdrawal is required, subject to the general terms and conditions sees at the back of this leaflet

Terms and Conditions specific to the Falcon Flexi-Save account.

These should be read in conjunction with the general Terms and conditions applicable to all account types detailed within this document, which are found at the back of the leaflet

Minimum initial investment - £20 Maximum account holding - £50,000

When interest is paid - 31st December

Investments: Account flexibility allows deposits to be made in a variety of ways from 12 regular monthly payments through to one annual deposit, dependant upon your requirements, up to the account's maximum of £50,000. There is no requirement for investors to make a minimum number of investments throughout the year, although the maximum is 1 per month.

Withdrawals: The account conditions only allow three withdrawals per calendar year. Once this limit has been achieved the next withdrawal is made under account closure, which is without penalty.
Investment Holding: Only one Flexi-Save account will be permitted per investor whether held jointly or in sole name.

September 2006