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120 Day Notice Account

Summary Box
Account name	120 Day Notice Account
What is the interest rate?	4.15% Gross/AER* Interest is added to the account annually on 30 November or can be paid into another Suffolk Building Society account or direct to your bank account on an annual or monthly basis. Interest paid monthly cannot be added to the account.
Can the Society change the interest rate?	The interest rate on this account is variable and the Society may make changes to this rate at any time. We will notify you of any changes in accordance with the Terms & Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?	If you were to open this account with £1,000 and no further deposits or withdrawals were made, after 12 months you would earn £41.50 in interest. If you chose to have interest added, this would result in a total balance of £1,041.50. Please note this is an illustration only and does not reflect your specific circumstances.
How do I open and manage my account?	To be eligible for this account: • You need to be aged 16 or over. • Provide an opening investment between £1,000 and £250,000. • Be a permanent UK resident. You can open an account: • By completing the appropriate application form. • Visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. • Provide proof of identity. Acceptable forms of identification are detailed in our Verifying your Identity leaflet. Alternatively, our staff will give you full details. If you change your mind: If you are not happy with your chosen account within 14 days of opening it, we will help you switch accounts or return your savings with interest. How do I manage my account: • You need to keep a minimum of £1,000 in the account. • The maximum that can be held in this account is £250,000. • You may invest up to the maximum balance by cash, cheque or standing order.
Can I withdraw money?	• Withdrawals are subject to 120 days’ notice or 120 days’ interest penalty. This means that you can access your funds instantly where you accept the penalty. • The penalty will first be deducted from accrued interest. If there is insufficient accrued interest the penalty will be deducted from the balance in your account.
Additional Information	Gross* The rate paid with no income tax deducted. For more information on your Personal Savings Allowance, please refer to www.gov.uk. AER (Annual Equivalent Rate) A rate which illustrates what the gross rate would be if the interest was paid and added once each year. How we report interest to HM Revenue & Customs (HMRC) We report the total interest earned on your savings account without deducting any interest penalty that may have been applied due to a withdrawal or closure. This might have been because you were unable to give notice in line with the account terms and conditions. This may mean a higher portion of your personal savings allowance will be used up. You can find out more information about your Personal Savings Allowance at www.gov.uk Changes to these terms Are detailed in Section 19 of our General Investment Terms and Conditions. Customer complaints Although we do all we can at Suffolk Building Society to provide a first-class customer service, sadly from time to time things do go wrong. We are keen to be aware of your concerns as they help us to identify ways in which we can improve the quality of service and possible training needs. We are committed to ensuring all complaints are fully and fairly addressed. If you have a complaint, please let us know by visiting any branch or agency or call 0330 123 0723 and we will do our very best to resolve the problem. A leaflet is available detailing our complaint procedure. You can request a copy of this at any time. Financial Services Compensation Scheme** Suffolk Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.

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Our savings accounts are currently available to open in branch or by post. If you’re looking for more information on how to open your account we’ve put together a helpful guide.

If you’re ready to open your savings account by post you’ll need to do the following:

Download, read and accept the product terms and conditions
Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
Read and retain the Privacy Notice
Download the application form by clicking this link. Complete it by typing into the boxes, then print and sign it (handwritten forms are also accepted). You can then email it to us or pop into branch.

We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete. Read more about proof of your identity by clicking here.

You can either open your account:

In your local branch – please get in touch before you plan to visit us, so we can make sure we allow enough time to open your account and run through the items we will need you to bring.

By post – Completed application forms, along with copies of your identification, should be posted to: Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.