60 Day Notice Account (App)

Account name

60 Day Notice Account (Mobile App Account) 

When you're ready to open your account, simply visit the Tipton App to find out more.

What is the interest rate?

The tiered variable rates below apply from 17 July 2024. Interest is paid at the same rate on the whole balance of the account. Interest is calculated daily and paid annually on 31 December.

£1,000 - £9,999.99 - 5.00% Gross/AER
£10,000 - £24,999.99 - 5.00% Gross/AER
£25,000 - £200,000 - 5.00% Gross/AER

When you're ready to open your account, simply visit the Tipton App to find out more.

Can Tipton & Coseley Building Society change the interest rate?

We may increase or decrease the tiered interest rates at any time. Further details of when we do this and how we will let you know, can be found in our Terms and Conditions for savings accounts, available on our website, in branch or in your welcome pack.

When you're ready to open your account, simply visit the Tipton App to find out more.

What would the estimated balance be after 12 months based on a £1,000 deposit?

The balance after 12 months based on an initial deposit of £1,000 with an interest rate of 5.00% Gross/AER (variable) would be £1,050.14.

The balance after 12 months based on an initial deposit of £10,000 with an interest rate of 5.00% Gross/AER (variable) would be £10,501.37.

The balance after 12 months based on an initial deposit of £25,000 with an interest rate of 5.00% Gross/AER (variable) would be £26,253.42.

These estimations are an example only and assumes:

• there are no additional deposits or withdrawals made;
• interest is paid gross and added to the account on 31 December; and
• there is no change to the interest rate.

These estimations are only examples, and do not take into account any individual circumstances. 

When you're ready to open your account, simply visit the Tipton App to find out more.

How do I open and manage my account?

You can open the account via the Tipton App only, available in the Google Play Store and Apple Store. 

Joint accounts cannot be opened. Only one account can be opened per customer. The account is available to anyone aged 18 or over. 

To open and operate your account with the Tipton App, you will need to choose a bank account as your nominated bank account. This means all deposits into your 60 Day Notice Account (App) must come from this nominated account. All withdrawals must also be sent to this nominated account.

The minimum amount to open this account is £1,000. You must have at least £1,000 in the account to keep it open. Withdrawals taking the balance below £1,000, will only be allowed when you are closing your account. Opening balances must be made by electronic payment from your nominated bank account, and must be sent within 14 days, or the account will automatically be closed. The maximum amount that can be held is £200,000 per account. 

You can add money to your account by electronic payment from your nominated bank account. 

When you're ready to open your account, simply visit the Tipton App to find out more.

Can I withdraw money?

You must give us 60 days' notice before any withdrawals are made, no early access is available. You can give notice to withdraw on the App, through our secure messaging service, or by calling us. 

Withdrawals must be made by electronic transfer to your nominated account. No cash withdrawals or internal transfers are available. No faster payment withdrawals are available. 

Withdrawals taking your balance below £10,000 and £25,000 will result in a lower rate of interest, as noted in the 'What is the interest rate?' section above. 

Closure of the account is allowed as long as 60 days' notice has been given, or 60 days' interest will be lost. 

When you're ready to open your account, simply visit the Tipton App to find out more.

Additional information

Interest is paid without tax deducted.

If you decide within 14 days of opening your account that this isn't the right account for you, you can have your money back without charge. We'll arrange to close the account and return your money to you, or transfer it to another one of our savings accounts. 

The Tipton offer a range of savings accounts on a non-advised basis. There may be another savings account which may have a higher rate of interest and/or be better suited to your personal needs. Please speak to a member of the team for other product information.

Gross means the contractual rate of interest payable.

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

Issued date: 17 July 2024

When you're ready to open your account, simply visit the Tipton App to find out more.