Regular Savings – Issue 1


The Financial Conduct Authority is a financial services regulator. It requires us, Stafford Railway Building Society, to give you this important information to help you to decide whether this product is right for you.

The information provided is a summary of the key features of the Regular Savings – Issue 1 and is not intended to be a substitute for reading the terms and conditions that apply to the account.

Account Name Regular Saver – Issue 1
What is the interest rate? 2.00% gross & AER
Interest is calculated daily and credited to the account annually on 31st October
Can Stafford Railway Building Society change the interest rate? Yes, the interest rate is variable, so it can go up or down.
If we change the rates, we will give you 14 days’ notice.
You’ll find full details of this and the reasons why we might change the interest rate in our Savings Terms and Conditions.
What would the estimated balance be after 12 months?
Monthly Deposit Interest Rate Total Deposit after 12 months Balance at end of 12 months
£25.00 2.00% Gross & AER £300.00 £300.26
£500.00 2.00% Gross & AER £6,000.00 £6,056.26

This projection assumes the following:
• 12 monthly deposits of £25 or £500.
• No withdrawals.
• No change to the interest rate during the 12 months.
• Projection provided for illustrative purposes only and does not take into account individual circumstances.

Estimated balances are for illustrative purposes only.

How do I open and manage my account? • The account can be opened in branch or by post and is available to private individuals only, and only for UK residents.
• It is a passbook based account and can be operated in branch or by post at the members own expense.
• The minimum opening balance is £25.
• Deposits can be made up to a maximum £500 per month.
• A deposit of between £25 and £500 must be received each month.
• If you miss 3 deposits in a Society year your account will revert to our Pullman account.
• Deposits to this account must come from your nominated bank account via standing order.
• If you don’t make a deposit during a month you cannot carry over the unused subscriptions.
• We do not accept transfers in of balances held with other providers. Your initial deposit can only be between £25 and £500.
You must live within the following postcode areas to be eligible for this account. ST14 – ST21, WS7, WS11 – WS13 or WS15.
Can I withdraw money? • Minimum Balance: £25.
• Maximum Balance: £100,000.
• No notice required for Cash withdrawals up to £500. A minimum of 24 hours’ notice for cash withdrawals up to £2,500 is required.
• Withdrawals will not be allowed without the passbook.
• Withdrawals can be made by post (cheque only) and must include a signed letter specifying the amount and cheque payee along with the passbook.
• Withdrawals are limited to no more than 4 per Society year.
• Cheque and CHAPs withdrawals must be made to an account in your name.
• CHAPs withdrawal incurs an administrative fee.
Additional Information • Each member can hold a maximum of 1 sole account and 1 joint account.
• A 14 day cancellation period applies to this account.
• Tax is not deducted from the interest we pay you. The value of tax benefits depends on individual circumstances and could change in the future.
• Definitions
• AER stands for Annual Equivalent Rate. This shows you what the gross rate would be if interest were paid and compounded each year.
• Gross is the rate of interest if interest were paid and not compounded each year.It’s worth noting that any of our accounts can be withdrawn from sale at any time and without notice.Rates correct as at 11 November 2019

Call us on: 01785 223212*