Direct 60 (Issue 13)

This account is suitable for customers who are 18 years of age or older, and who are happy to deal with the Society by post or email. The account has a notice period attached to it in respect of withdrawals, and as a result attracts a higher rate of interest than the instant access account.

Summary Box - Key Product Information

What is the interest rate ?

  • 1.09% gross,  1.10% AER.

  • For 12 months from date of opening the account. After 12 months from the date of opening, this account will automatically transfer to an instant access account with a rate equivalent to the Direct Saver account unless instructed otherwise.

  • Interest is calculated on a daily basis and will be credited to the account monthly on the last day of the month. Alternatively, interest can be transferred into another Bath Building Society account, or paid by faster payment into a nominated account if preferred.

Can Bath Building Society change the interest rate?

  • The interest rate is variable, which means we reserve the right to change it to reflect market conditions, to comply with legal or regulatory guidelines or for any reason we deem to be appropriate.

  • We will give you 30 days’ notice in writing before any reduction to the rate is applied.

  • Full details of the reasons why we may change your interest rate can be found in the General Terms and Conditions leaflet, under Section 7.

What would the estimated balance be after 12 months based on a £2,500 deposit?

  • Based on the current rate of interest, if you deposited £2,500 in this account, after 12 months you would have £2,527.50.

  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • Available for UK residents only, applicants must be aged 18 and above.

  • To open an account, simply complete an application form, available from any Branch, Agency Office, or by contacting our Customer Support Department. Alternatively, this can be downloaded from our website.

  • Minimum opening balance £2,500.

  • Maximum balance £100,000 (for any balances held in excess of this level, an interest rate of 0.05% gross will be paid).

  • Minimum operating balance £1.

  • The account is operated by post, but you can also arrange to operate the account by email if you complete the relevant authority on the application form.

  • Customers will be contacted at least 14 days before the maturity date, and provided with re-investment options.

  • A passbook is issued with this account.

  • It is also possible to view all the accounts you hold with Bath Building Society by registering through our website

Can I withdraw money?

  • You will need to give 60 days’ notice of your intention to withdraw funds. We will make a charge equivalent to 60 days gross interest on all withdrawals if 60 days notice is not given. This charge may be taken from the capital investment.

  • All withdrawals will be made direct to the designated UK bank account by next day faster payment, or by cheque payable to the account holder.

Additional Information

  • Only one Direct 60 (Issue 13) can be opened by any individual during their lifetime.

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This account is a limited issue and can be withdrawn without notice.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.

Version: February 2017

Further Information