Falcon 50 years+
Falcon 50 years+ - a higher rate savings account for the over 50s who want to make a lump sum investment and don't mind giving notice of withdrawals. You can get instant access to your money for balances over £50,000. The account is operated through our branches or by post.
Key features
- Minimum investment of £10,000.
- Instant access if balance stays over £50,000
- Tiered interest rates
- Annual or monthly interest options
- Can be opened at any of our branches or by post
- Open to UK residents/those ordinarily resident
- Operated using a passbook.
Deposits
A minimum opening balance of £10,000 or more is required. You can add to your account at any time up to a maximum of £1,000,000.
Withdrawals
Unlimited, instant access withdrawals without loss of interest can be made if balances remain above £50,000. 180 days required when balance is below £50,000. Otherwise 180 days loss of interest on the amount withdrawn will be incurred if the notice is not provided.
For notice withdrawals, a period of 7 days' grace is allowed at the end of the notice period, after which notice will have to be resubmitted if loss of interest is to be avoided.
We can only provide cheque withdrawals by post. For larger amounts, prior notice may be required.
Interest
Tiered levels offer better rates at £25,000, £50,000 and £100,000.
Annual interest:
Interest may be credited to the account or paid to another suitable account with the Barnsley.
Monthly option:
Interest may be paid to another suitable account with the Barnsley, paid direct to your bank account or credited to the account.
Accounts will receive the first interest payment on the last day of the same month, unless they are opened within the last 5 working days of a month, in which case the initial interest payment will cover the period from the date the account is opened to the end of the following month. Thereafter, the amount of each monthly payment will be based on the number of days in the month.
If balances fall below £10,000 monthly interest payments will be stopped and the balance will be transferred to a Falcon Instant account with a loss of 180 days notice on the closing balance.
The Barnsley
If you open an account it will be with Yorkshire Building Society (trading as Barnsley Building Society). Barnsley Building Society is operated under its own brand with its own products and as a trading name of Yorkshire Building Society.
Full terms
Full terms and conditions for this account are available at our branches.
Summary Box
| Summary Box Key Product Information for our Savings Account | |
|---|---|
| Account Name | Falcon 50 years+ |
| Interest rates (AERs) | Variable tiered rate of interest paid annually on 31 December or monthly on the last day of each month. See interest rate |
| Tax Status | Gross or net |
| Conditions for bonus payment | N/A |
| Withdrawal arrangements |
Instant access and unlimited withdrawals when balance remains over £50,000. 180 days notice required when balance is below £50,000. Otherwise subject to 180 days' loss of interest on the amount withdrawn. Subject to daily withdrawal limits. |
| Access | Barnsley branch network or post. |
Interest rate
Annual interest rate
| Balance | Interest type | Gross rate p.a. % (variable) | Net rate p.a. % (variable) | AER p.a. % (variable) |
|---|---|---|---|---|
| £10,000 - £24,999 | Annual | 1.00% | 0.80% | 1.00% |
| £25,000 - £49,999 | Annual | 1.30% | 1.04% | 1.30% |
| £50,000 - £99,999 | Annual | 1.50% | 1.20% | 1.50% |
| £100,000 + | Annual | 1.85% | 1.48% | 1.85% |
Monthly interest rate
| Balance | Interest type | Gross rate p.a. % (variable) | Net rate p.a. % (variable) | AER p.a. % (variable) |
|---|---|---|---|---|
| £10,000 - £24,999 | Monthly | 1.00% | 0.80% | 1.00% |
| £25,000 - £49,999 | Monthly | 1.29% | 1.03% | 1.30% |
| £50,000 - £99,999 | Monthly | 1.49% | 1.19% | 1.50% |
| £100,000 + | Monthly | 1.83% | 1.46% | 1.85% |
AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.
Barnsley Building Society and the Barnsley are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.
Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority and are entered in the FSA register and our FSA registration number is 106085.
Get in touch with us:
- Call us on 0845 1 200 898
Lines are open from 9am – 5pm, Monday to Friday. - Find a branch:
http://www.barnsley-bs.co.uk/about/branches.html - Manage your accounts online:
http://www.barnsley-bs.co.uk/security/online_help.html
This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.