Incomeplus - Monthly Income

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Incomeplus - Monthly interest to enhance your income

If you would like to receive interest monthly, and have £3,000 or more to invest, Scottish Building Society offers Incomeplus.

Interest rates for Incomeplus increase over a number of bands, so that the higher your balance, the better your monthly income.

You can choose to have your interest paid directly to your bank account each month, or transferred to another account with the Society.

You can withdraw without penalty if you give 90 days' notice, or if your remaining balance will be £10,000 or more.

  • Minimum investment £3,000
  • The higher your balance, the more interest you earn
  • Withdrawals available by giving 90 days' notice
  • Immediate access if your remaining balance is £10,000 or more - otherwise 90 days' loss of interest on the amount withdrawn
  • Interest paid directly to your bank each month or transferred to another Scottish Building Society account

Where the monthly interest due is less than £5, interest will be accumulated until the total due is £5 or more.

How to open an account

Opening an account couldn't be easier. Simply click here for an Application Form.

Complete the form and take it along to any Scottish Building Society branch or local office.

Alternatively, you can send your completed application form, together with your initial deposit, to us at the following address:

FREEPOST

RLYC-AAGE-YURH

Scottish Building Society

SBS House

193 Dalry Road

Edinburgh

EH11 2EF

Your passbook will then be posted to you.

Your Right to Cancel

If you wish to change your mind about any savings or investment account, please contact us within 14 days of opening the account. We will help you select a more suitable account or return your money in full together with any interest earned (ignoring any notice period or charges).

Summary Box: Key Product Information for Incomeplus
Account Name Income Plus
Interest Rate Click here for current rates.
Tax Status Interest is normally paid or credited after deduction of income tax at the savings rate of 20%, and the net interest rates shown illustrate the effect of this. Interest may be paid gross where you are eligible for interest without tax deducted and where you complete the required declaration.
Conditions for Bonus Payment Not applicable as there is no bonus associated with this product.
Withdrawal Arrangements Immediate access without notice or penalty where £10,000 remains in your account after withdrawal. Otherwise withdrawals are subject to 90 days notice or 90 days loss of interest on the amount withdrawn.
Access In person via branches and agencies or by post.
Need Help? Contact Us

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