Common use of INTEREST ON YOUR ACCOUNT Clause in Contracts

INTEREST ON YOUR ACCOUNT. 5.1 Interest on your account will be paid at the account interest rate. The account interest rate is a variable rate of interest. This means that we have the right to change the interest during the term of your account but it does not track movements in a specific market rate (e.g. the Bank of England base rate). Please ensure you read the terms and conditions in full (in particular clause 8 in the general terms and conditions) so that you understand how we may change your account interest rate and what rights you have where changes are made. 5.2 Details of the account interest rate are available via our website and historic saving rates document. The latest version is available at xxxxxx.xx.xx as well as any updates to that version being made available via internet banking. The latest version of our historic saving rates document can be accessed here. 5.3 Any interest on your account will be calculated daily through the applicable interest rate being applied to your account balance on each applicable day. Interest will be paid into your account on a monthly basis (on the last working day of each month). 5.4 Where you have submitted a withdrawal request, the funds forming the withdrawal amount will continue to earn interest until they are transferred to your nominated account.