Branch Moneybuilder

The ideal account if you’re serious about building your savings but still want easy access to your money. With Branch Moneybuilder you can get to your savings when you need to, but you’ll also be rewarded if you leave it alone. If you make no more than six withdrawals in an interest year, you can earn a fantastic interest bonus.

Account details

Summary of key account details

Account name	Branch Moneybuilder
Interest rates (AERs)	Interest rates are variable. Click here to see our current rates of interest.
Tax status	Interest will be paid net of tax unless you have registered to receive gross interest
Conditions for bonus payments	Paid annually if no more than 6 withdrawals in the interest year
Withdrawal arrangements	Instant access
Access	Branch

Your interest

Interest rates are tiered so the more you save, the higher the rate of interest you’re paid.

Your interest and any bonus will be paid on 1 September each year. We can pay it straight into your Branch Moneybuilder account, into another account at The Nottingham or into your bank account. Just let us know on your application form what you’d prefer us to do.

Every year we’ll send you a statement in September telling you how much interest you’ve earned, the rates that have applied to your account over the last year and the current rate of interest.

Paying money in

You can pay money into your account either in person at any of our branches using your passbook, or by standing order from another account. If you want to set up a standing order, just ask for a ‘bank transfer’ form when you open your account. If you get a pension and want it paid directly into your account, we will be happy to arrange this with your pension provider.

Taking money out

You can have instant access to your savings whenever you need it. But, if you make six or fewer withdrawals in the 12 months between1 September and 31 August you’ll qualify for a special bonus.

You must keep at least this £10 in your account at all times.

How to open a Branch Moneybuilder account

Branch Moneybuilder is available to UK residents aged 16 or over and you will need at least £10 to open an account.

To open an account, just call in to your local branch and speak to one of our advisers.  We’ll have a friendly chat to make sure that Branch Moneybuilder is the right account for. We’ll then ask you to fill in an application form and provide proof of your identity and permanent address.

Current interest rates from 1 December 2009

Balance	Gross rate / AER*		Net rate+
	with bonus	without bonus	with bonus	without bonus
£50,000 - £250,000	2.00	1.00	1.60	0.80
£10 - £49,999	1.20	0.20	0.96	0.16

Previous interest rates from 1 April 2009

Balance	Gross rate / AER*		Net rate+
	with bonus	without bonus	with bonus	without bonus
£50,000 - £250,000	2.40	1.40	1.92	1.12
£10 - £49,999	1.40	0.40	1.12	0.32

*We will pay your interest with tax taken off at the lower rate of 20% (net interest). If you do not pay tax and have filled in an HM Revenue & Customs R85 form, we will not take tax off your interest (gross interest). AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was reinvested in the account each year.

+The net rate(s) shown assume(s) income tax at the lower rate of 20% has been taken off.