SuperSaver Savings Account - Monthly Interest Savings Account

Account provider

Ridgeway Alliance Trust – We are authorised by the Regulation Authority and regulated by the Financial Conduct Authority.

We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a Bank is unable to meet its financial obligations. Most depositors – including most individuals and businesses – are covered by the scheme.

In respect of deposits, from 30 January 2017, an eligible depositor is entitled to claim up to €85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be €85,000 each (making a total of €170,000). The €85,000 limit relates to the combined amount in all the eligible depositor’s accounts with us including their share of any joint account, and not to each separate account.

What is the interest rate?

0.60% AER¹

(The interest rate on your SuperSaver Savings Account will be changed to 0.60% AER from January 11, 2021)

AER¹ - AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Interest rates are subject to change and may vary from time to time. To check the latest interest rates ;

• visit Click here for interest rates
• Speak to a member of our bank staff
• Call our Customer Service Centre on +44-746-227-2978

Interest is accrued daily on the day end cleared balance and paid into your Account on the last business day of each month. This means that interest is compounded monthly.

Can Ridgeway Alliance Trust change the interest rate?

Changes to interest rates:

• When we change the interest rates on your Accounts, we will update the information with our Branches, call centre and Website.
• We may change interest rates applied to your Account:

1. If the change is to your advantage, we will tell you about the change within 30 days of the change and
2. If the change is to your disadvantage, we will inform you before any other changes about in advance a period of 30 days. If you are dissatisfied with the changes, you will have a right to switch or close your Account without loss of interest or any additional charges.
3. iii. A change to a rate of interest would be notified, only where the balance of the Account is more than €100.

Read the T&C for complete information.

What would the estimated balance be after 12 months based on a €1000 deposit?

For €1000 invested for 12 months at interest rate of 0.60% (AER), you'll earn approximately €6.00 interest (gross). This is applicable when amount is invested for complete year and the interest is not withdrawn from the account.

How do I open and manage my account?

Eligibility:

You are eligible to open the SuperSaver Savings Account if you meet the below criteria;

• 18 years or above
• Holding a HomeVantage Current Account with Ridgeway Alliance Trust
• Satisfactory identity and address verification

Steps to open SuperSaver Account:

Visit any Ridgeway Alliance Trust branch and meet a member of branch staff to open your SuperSaver Savings Account. Alternatively you can complete the application form which you can find on our website and provide us with the proof of your identity and address.

Joint account:

You can open an individual or a joint account or both.

Documents required to open the account:

• If applying through phone or online - existing HomeVantage Current Account holder (account held > two years) :

  We will carry out an electronic identity check before your SuperSaver Savings Account can be opened. If we cannot identify you electronically, then we will request you to visit one of our UK branches with original identity and address documents.

• If applying through a Branch:
  • You need to submit:
    • A valid proof of identity
    • A valid proof of address
  • Minimum balance:

    No minimum balance required.

• Regular transfer set up:
  • You can set up regular transfers from yourRidgeway Alliance Trust HomeVantage Current Account to the SuperSaver Savings Account.
  • There is no limit on the minimum or maximum amount you can deposit each month.
  • To set up a standing instruction on your Current Account, please access your account online or enquire with our branch staff.

Can I withdraw money?

• Withdrawals can only be made to the linked Ridgeway Alliance Trust Current Account
• Withdrawals can be requested online and through a branch
• No restrictions on the number of withdrawals done
• No notice period required for withdrawals<
• No penalty on withdrawals

Additional information

There are no standard charges on SuperSaver Savings Account offered by Ridgeway Alliance Trust. However there are charges levied for certain services/facilities provided for day to day running of your account. We recommend that you go through the Rates and Charges Schedule in our website http://www.ridgewayalliancetrust.com before making a choice.