Common use of INTEREST ON YOUR ACCOUNT Clause in Contracts

INTEREST ON YOUR ACCOUNT. 4.1 Interest on your account will be paid at the account interest rate. The account interest rate is a fixed rate of interest. This means that we do not 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). It will remain the same for the term of your account. 4.2 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. 4.3 Any interest on your account will be calculated daily through the applicable interest rate being applied to your account balance on each applicable day. 4.4 Interest will be paid on an annual basis (on the same day each year as the date you made your initial deposit into your account). The accumulated interest will be paid into your JN Bank Fixed Term Savings Account.