RBS First Home Saver
Compare the RBS First Home Saver with the UK's best savings, including savings details, application criteria, introductory rates, rates, managing account and fees & charges.
 |  Compare RBS First Home Saver details directly with other savings or compare savings using our savings comparison tables. | ||
| Company: | Royal Bank of Scotland www.rbs.co.uk | ||
| Product: | First Home Saver | ||
| Apply via this site: | Not available | ||
| Savings Details | |||
 Account Type: | Instant Access | ||
| Rate Type: | The type of interest rate is bbr. | ||
| Headline Interest Rate: | The headline interest rate is 1.50% AER. | ||
| Interest Rate Guarantees: | The interest rate is guaranteed to track the Bank Base Rate until 01/02/2009. | ||
| Application Criteria | |||
| Existing Customer Only: | No | ||
| Minimum Age: | The minimum age to open the account is 16 years. | ||
| Area Restrictions: | There are no area restrictions. | ||
| Minimum Investment: | The minimum investment is £100. | ||
| Maximum Investment: | The maximum investment is £1000000. | ||
| Minimum Balance: | The minimum balance is 1. | ||
| Open to UK Residents: | This product is available to UK residents. | ||
| Introductory Rates | |||
| Introductory Bonus: | An introductory bonus of 1.50% is payable. Gross Rate Gross Rate AER Excluding Bonus Including Bonus £100 0.20% 1.70% 0.95% £10,000 0.25% 1.75% 1.00% £25,000 0.50% 2.00% 1.25% £50,000 0.75% 2.25% 1.50% | ||
| Incentives Offered: | Customers can also arrange a monthly one way sweep.If they have a Royal Bank current account they can arrange for any left over money to be automatically transferred to their savings account on any chosen day each month. | ||
| Rates | |||
| Tax Free: | This product is not tax free. | ||
| Open-ended Bonus: | A variable tax-free bonus is payable dependant on the highest daily balance in the account in 60 days prior to RBS mortgage being drawn down. Bonus as follows: Account Balance Cashback Bonus £50,000+ £5,000 Up to £50,000 £2,500 Up to £25,000 £1,000 Up to £10,000 £500 Up to £5,000 £100 | ||
| Bonus Payment Conditions: | Cashback Conditions- The cashback is only payable if a Royal Bank of Scotland mortgage is taken out. To qualify for the cashback the following criteria must be met- - A variable tax free cashback is payable dependant on the lowest daily balance in the account 6 months prior to RSB mortgage being drawn down - The cashback is only available to first time buyers, if the savings account is in joint names, neither of the account holders can have previously held a mortgage - The savings account must have been open for at least 6 months prior to the mortgage being drawn down - One payment of at least £50 a month must be made by Standing Order into the account - Bonus will only be paid in the First Home Saver account, this must remain open for three months following the draw down of the mortgage. Bonus Conditions: An introductory bonus of 1.50% is payable for 6 months. | ||
| Rate Tiers: | Gross Rate Gross Rate AER Excluding Bonus Including Bonus £100 0.20% 1.70% 0.20% £10,000 0.25% 1.75% 0.25% £25,000 0.50% 2.00% 0.50% £50,000 0.75% 2.25% 0.75% | ||
| Interest Payment Freq: | Interest is paid annually . | ||
| Managing Account | |||
| Instant: | This is an instant access account. | ||
| Passbook: | A passbook is not provided when this account is opened. | ||
| Transactions at Branch: | Transactions can be made at a branch. | ||
| Statement Frequency: | Statements are issued quarterly. | ||
| Transactions by Phone: | Transactions can be made by telephone. Lines are open 24 hours a day, 7 days a week Calls are charged at a local call rate | ||
| Transactions by Internet: | Transactions can be made via the internet. | ||
| Transactions by Post: | Transactions can be made by post. | ||
| Special Access: | 3 free withdrawals are allowed per quarter thereafter there is a £1.50 charge per withdrawal. | ||
| Withdrawal Conditions: | Withdrawal Conditions - 3 free withdrawals are allowed per quarter thereafter there is a £1.50 charge per withdrawal. | ||
| Fees & Charges | |||
| Penalty on all Wdls: | There is not a penalty on all withdrawals. | ||
| Compare | |||
| Products: | www.rbs.co.uk Savings | ||
