SMART SAVE MONTHLY

Summary Box Account name Smart Save Monthly

What is the interest Interest rate without bonus 0.10% Gross*/AER** rate? Interest rate with bonus 3.10% Gross/AER (includes a conditional bonus of 3.00% Gross/AER) The interest and bonus are added to the account on anniversary of account opening.

The bonus is calculated daily on each receipt, not as a percentage of the total balance on anniversary. The bonus resets to zero after each anniversary, ready for your next year’s payments.

How do I ensure I qualify for the bonus? During your anniversary year, you must make a minimum of 11 monthly payments of £10 - £500 (£1,000 for joint accounts), not exceed two withdrawals and not close the account. If you do not meet the conditions you will forfeit your bonus for that year but you can continue saving to earn a bonus in the following anniversary year if all the account terms and conditions are met.

Can Ipswich Building The interest rate is variable, which means we reserve the right to change them to reflect market Society change the conditions, to comply with legal or regulatory guidelines and to protect the long-term future of the interest rate? Society.

We will give you 14 days’ notice before any change that would disadvantage you, provided you had a minimum balance of £100 at the time of writing. For full details please read our General Investment Terms and Conditions.

The bonus rate is fixed and cannot be changed.

What would the Based on the current rate of interest, if you deposited £1,200 into this account, after 12 months you estimated balance be would have £1,220.17. after 12 months based on a £1200 deposit? (This figure is only an estimate, based on £100 per month being deposited on the 1st of each month for 12 months. It includes both the interest and bonus. This figure is for illustrative purposes only, and does not take into account your individual circumstances.)

How do I open and To open this account: manage my account? • You need to be aged 16 or over. • Provide an opening investment between £10 and £500 (£1,000 for joint accounts). • Be an existing member or a new member resident in postcode areas IP, NR, CO, CM, CB or PE. • Be a permanent UK resident. • An individual is only allowed to be the sole or first named account holder on one Smart Save Monthly account. However, you can also be the second named account holder on one joint account.

To open an account you must complete the appropriate application form. You can 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. You will be asked to provide proof of your identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Proving your name and address’ 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.

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HEAD OFFICE: PO Box 547 Ipswich IP3 9WZ

Telephone: 0330 123 0723 Fax: 01473 278600 Email: [email protected] Website: www.ibs.co.uk

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Established 1849. Member of The Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by 4 Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register, Firm Registration Number (FRN) 104875. 0

How do I open and How do I manage my account: manage my account? • You need to keep a minimum of £10 in the account. • The maximum that can be held in this account is £250,000. • Make one deposit per calendar month of up to £500 (£1,000 for joint accounts) by standing order. • Ensure that the standing order leaves your bank account by the 25th of each month to receive your deposit by the end of the calendar month. • You won’t receive a passbook but your bank statement will show your standing order payments. You’ll also receive a statement from us within 30 days of your account anniversary. • Make sure you review your account at each anniversary. If you leave your accumulated balance in your account at the end of each anniversary year, it will earn 0.10% Gross/AER. • If we don’t receive any deposits for 3 consecutive months, we’ll assume you’ve decided to stop saving regularly. If the balance is less than £100, we’ll close the account and send you a cheque. If the balance is £100 or more, we’ll transfer your account to our instant access Everyday Saver account and send you a passbook.

Can I withdraw • You can make two withdrawals instantly at any point in your anniversary year. money? • You can close your account instantly at any time, however any accumulated bonus will not be paid if you have not reached your account anniversary.

Additional Information What is a Standing Order and how do I change my details? A standing order gives your bank permission to take money from your bank account and send it to us. If you need to make any changes to your instructions you will have to contact your bank direct.

What happens if my Standing Order payment isn’t sent? You should check your bank statement each month as sometimes things go wrong. If your standing order isn’t sent, you have until the end of that calendar month to visit a branch or send a cheque.

What happens to the bonus if the account holder passes away? Any accrued bonus as at the date of death will be added to the account balance, provided the terms and conditions for bonus qualification have not already been broken during the anniversary year.

This represents the Terms and Conditions for Smart Save Monthly and should be read in conjunction with our General Investment Terms & Conditions and our Customer Information booklet.

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 notional rate which illustrates what the gross rate would be if the interest was paid and compounded once each year.

Customer complaints Although we do all we can at Ipswich 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.

Changes to these terms Any changes in terms will be displayed in our branch offices. At least thirty days’ notice will be given of any changes to your disadvantage.

Financial Services Compensation Scheme Ipswich Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.

Retail Banking Conduct of Business Ipswich Building Society complies with the Retail Banking Conduct of Business which set standards of good practice for building societies and banks.

HEAD OFFICE: PO Box 547 Ipswich IP3 9WZ

Telephone: 0330 123 0723 Fax: 01473 278600 Email: [email protected] Website: www.ibs.co.uk

)

/2020 564

the (

Established 1849. Member of The Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by 4 Financial Conduct Authority and the Prudential Regulation Authority. Registered on the Financial Services Register, Firm Registration Number (FRN) 104875. 0