Shows what the interest rate would be if the interest was reinvested in the account each year.

An account where all withdrawals or investments are made at a branch. Nottingham Building Society has branches in the East Midlands, South Yorkshire and Lincolnshire.

All new savers opening share accounts must sign a declaration agreeing to assign any future windfall rights to Charities Aid Foundation.

A computer system which allows payments to be made electronically. The payment goes from the paying bank to the receiving bank on the same day.

Sets out the rules about how we can use personal information about our customers. We do not pass information about our customers to other companies for their own marketing purposes. However, we may pass information on to other companies to conduct research, analysis and marketing activities on our behalf.

An account without membership rights.

This scheme was introduced under the Financial Services Act. Its purpose is to protect your investment should a building society become unable to repay it. Nottingham Building Society is a participant in this scheme.

The interest rate remains the same until a specific date.

Interest without any income tax taken off (see R85 form).

An account which pays interest free of UK Income and Capital Gains Tax (tax-free).

An account that allows you to make a withdrawal at anytime, without having to give any notice or having to pay a charge.

A building society is a mutual organisation which is owned by its members (see Mutual Building Society). As the owners of the society, the members have certain voting rights to influence the affairs of the society.

Owned by its customers - the members - and run for their benefit. Unlike banks, mutual building societies do not have to maximise profits to pay outside shareholders. Nottingham Building Society is a mutual building society. We choose to put ‘people before profit’ by passing on extra benefits to savers and borrowers.

Interest with income tax taken off. All net rates shown assume income tax is at the lower rate of 20%.

A savings account which requires a number of days’ notice - e.g. 30 or 60, before you can withdraw money. There is usually an option to withdraw your money immediately but you will be charged for this based on the amount you withdraw.

An account where withdrawals and deposits are made by post.

An Inland Revenue form which you have to fill in if you are a non-taxpayer and want us to pay your interest with no tax taken off.

An account which gives you membership rights. Most of our accounts are share accounts.

Interest paid free of UK Income and Capital Gains Tax.

Most of our accounts have tiered rates. When the total amount you have saved reaches the next tier you will earn a higher interest rate on the whole balance.

The movement of money into and out of your account.

A person who is made the legal owner of property (which could include funds in a building society account) and is under an obligation to hold it or deal with it on behalf of someone else. An example includes a parent being made trustee on a savings account for a child.

The interest rate can change. If rates do change we will tell our customers by branch notices and newspaper advertisement for branch based accounts and by letter for postal accounts.