Falcon 50 Years +

Falcon 50 years+ is a higher rate savings account for those over 50 who wish to make a secure lump sum investment. The account offers instant access to the investment dependent upon the balance and also a penalty free withdrawal option. The account offers tiered rates and an attractive monthly income option, should you wish to take a regular income from your savings – proving that getting older has some benefits!

Deposits and Withdrawals

You can invest in a Falcon 50 account at any time as long as your minimum opening balance is £10,000 or more. At this level your account is eligible for either the annual or monthly income options.

You can add to your account at any time and the current rate of interest will be applied immediately. The accounts tiered levels offer the incentive of a better rate at £25,000, £50,000 and £100,000. Ask for a copy of our interest rates to see those currently applicable. Rates are variable on this account and can down as well as up.

Withdrawals are available with simple instant access if the withdrawn amount leaves your balance over £50,000. Alternatively, another option is to give the Society 180 days notice of your intended withdrawal and you will not incur penalties. Should you require access before the 180-day period is complete, the funds are still available but your withdrawal will incur penalties as seen in the terms and conditions towards the end of this section.

Terms and conditions specific to the Falcon 50+ account.

Minimum Investment Monthly and Annual £10,000
Maximum Investment £1,000,000
Notice required for withdrawals 180 days
How interest is paid Credit/Transfer
When interest is paid (Annual) 31st December
(Monthly) Last working day of the month

If the balance on a Falcon 50+ Annual Income account drops below £10,000, the account will be closed and the balance transferred to a Falcon Instant Access account with the loss of 180 days interest on the closing balance.

September 2006