HoistSavings: Easy Access Account

/ 4.67% Gross

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

Accrued interest is credited quarterly and paid gross without prior deduction of tax. Interest is credited against the deposit on the last day of each quarter.

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 14 days’ notice. You may receive less notice if the rate increases.

Please review the associated terms & conditions for more information.

The estimated balance after 12 months on a deposit of £1,000 is £1,048.35. 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. Savings accounts at Raisin 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 Anti-Money Laundering/Know Your Customer (AML/KYC) check.

The minimum opening amount for this account is £1,000 and the maximum balance you can have is £70,000 (per product and banking institution).

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

There is no minimum operating balance for this account. To fully close this account please contact Customer Services.

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

Yes. There is no limit to the amount or number of withdrawals you can make.

If termination is received on a non-business day (either weekend or public Holiday), the termination will be initiated on the next business day. Please allow two banking days for the funds to be available in your account.

Once termination has been requested it can’t be revoked.

Transfers of funds must be received within 60 calendar days (the funding window) of your savings account application date. Any funds received after this period will be held in your Raisin Account, awaiting your instruction.

Funds must be transferred to your Raisin Account from a UK bank or building society account in your name by electronic bank transfer only, and to the exact amount pledged when you applied for the savings account.

Deposits held with Hoist Finance AB are protected by the Swedish Depositor Compensation Scheme. Each eligible customer, as defined by the Deposit Insurance Act, is entitled to compensation for the amount deposited plus accrued interest on his or her account(s) with the bank up to a maximum of the GBP equivalent of SEK 1,050,000 at the time of the compensation case. The maximum deposit size for this product is limited to £70,000, well below the compensation limit’s maximum, however please note that the exact GBP amount of the compensation limit will change over time due to currency fluctuations and there is a risk that the compensation limit’s GBP value may drop below the value of your deposit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the protection applies only to eligible deposits up to this limit.

Typically, your funds will be remitted to Hoist Finance AB by ClearBank once the bank has confirmed your application.

Depending on how your funds are transferred and the bank’s processes it can typically take up to 2 business days for an ordered account to be set up and start earning interest.