Vida Savings: 45 Day Notice Account

4.35% AER/ 4.27% Gross is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.

Interest is calculated daily, compounded monthly and paid gross without prior deduction of tax.

The interest rate applicable to your deposit is variable.

Should the bank set a date to lower the interest rate, you will be given a minimum of 45 days’ notice. Should the bank set a date to increase the interest rate, customers will be notified within 30 days of the increase.

Please review the Raisin Trust  Terms and Conditions for more information.

The estimated balance after 12 months on a deposit of £1,000 is £1,043.55. This projection is for illustrative purposes only and does not take into account individual circumstances.

To open this savings account, you must apply online through Raisin UK. Savings accounts at Raisin UK are only available through this online application process, and to be eligible to apply, you must

● Be a UK resident who is aged 18 or over

● Hold a UK bank or building society account from which you will fund your application

● Have a valid mobile phone number and email address

● Have a UK National Insurance Number

Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks.

The minimum amount you can deposit is £1000 and the maximum amount you can deposit is £85000 (per product and banking institution).

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

You can manage your savings account through Raisin UK by logging into your Raisin UK Account. You can contact Raisin UK by telephone, by email or in writing by using the contact details provided in the Raisin UK Terms and Conditions.

You may withdraw the full deposit amount only. This will be subject to a 45 day notice period. You are unable to add to the initial deposit or make partial withdrawals. Funds will  be returned to your Raisin UK Account following the notice period expiry. 

Once notice has been given it can’t be revoked.

If a termination falls on a non-business day, then payment will be made on the next business day and interest will be paid for the additional days. e.g. If a notice account terminates on a Saturday and funds are returned on the Monday, interest will be paid for the intervening Sunday.

Raisin Platforms Limited (RPL), will administer the deposit on your behalf as Bare Trustee in accordance with the Raisin Trust terms and conditions. 

Funds will be remitted to Vida Savings by Raisin on the next business day after arriving in the Raisin Platforms Trust account. 

It can take up to 2 business days for an ordered product to be set up and start earning interest, and up to 2 business days for withdrawals and closures to be processed and funds received back in your Vida Savings account.

Your funds will be held by Vida Savings in our name as your trustee in a pooled account together with the assets of our other customers, the customers of Vida Savings and Vida Savings's own funds. Your funds will remain identifiable at all times.

You have the right to cancel your account without charge and without giving any reason, within 14 calendar days from the day of opening this savings account.