MONTHLY SAVER

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MONTHLY SAVER

Monthly Saver is a great way of building up your savings by putting away some money each month.

Unlike traditional Regular Saver savings products, our Monthly Saver allows you to deposit more than once a month which gives you flexibility on how much you wish to put aside. All we ask is that you deposit at least £1, and no more than £500, per month.

This is a branch-based only account and cannot be opened online or by post.

 

Summary Box

The Information provided is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.

What is the Interest Rate?6.00% Gross/6.00% AER (From 1st February 2026)

 

AER stands for Annual Equivalent Rate.  It illustrates what the interest rate would be if interest was paid and compounded each year.

 

Interest is calculated daily and is variable.  Interest is compounded annually on the anniversary of account opening

 

See our current interest rates for all savings accounts.

Can esbs change the Interest Rate?We may change interest rates at any time if we reasonably believe the change is needed.  Please refer to Condition 7 – Interest in the Terms and Conditions for esbs Retail Savings Accounts for further details.
What would the estimated balance be after depositing £100 per month for 12 months?The projected balance based on the current interest rate is £1,238.91.

 

This projection is provided for illustrative purposes only and does not take into account the individual circumstances of the customer.

How do I open and manage my account?

 

 

 

  • This is a branch-based only account and cannot be opened online or by post.
  • The account may only be opened by UK residents that are 13 years or over.
  • Minimum balance £1.
  • Maximum balance £6000.
  • Minimum deposit per month £1.
  • Maximum total monthly deposits cannot exceed £500.
  • To apply for a Monthly Saver please read the Monthly Saver leaflet to ensure this account is suitable for you.  Please be certain to read the Terms and Conditions for esbs Retail Savings Accounts.
  • If you wish to open an account you must apply in person in one of our branches or, should you wish for an application form to be sent in the post for you, call our Savings Team on 01455 844422. Please remember to provide the funds/proof of funds in order to open the account. Applications which have been posted out, must be returned to one of our branches in person for the account to be opened.
Can I withdraw money?
  • Yes – 2 withdrawals per year
  • The account will be closed if a further withdrawal is required.
Additional Information
  • This account is limited to one per investor.
  • If at least one payment per month (minimum £1) is not received the account will be closed.
  • Term 1 year.
  • On maturity (anniversary of account opening) the account balance and interest will be transferred to an Instant access account unless other instructions are received.
    The interest rate payable on the instant access account will be variable
    and may be lower than this Monthly Saver.

This account might be right for you if you:
• Are happy with a variable rate of interest that can go up or down.
• Are aged over 13.
• Are happy to have limited withdrawals.
This account is not right for you if you:
• Want the security of a fixed rate of interest.
• Are unable to pay between the minimum and maximum amounts required each month.

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