Advantage Combination Plan
Get the best of both worlds
Combine a 12 Month Advantage Term Deposit with an AXA Investment.
When it comes to planning for the future, you want your money to grow - but you also want the security of a fixed rate return on your investment. With our Advantage Combination Plan, you could have both!
Our Advantage Combination Plan offers the chance to split your investment into two separate parts combining guaranteed interest plus growth potential.
Main features
- 50% or more of your funds will be invested in an AXA qualifying investment following an appointment with an AXA Financial Planner.
- The remainder of your funds will be invested in our 12 Month Advantage Term Deposit.
- Offer ends 10th September 2010, subject to availability.
Term Deposit
- Guaranteed interest rate of 4.50% Gross/AER on your 12 Month Advantage Term Deposit if held for the full term.
- Minimum investment in the 12 Month Advantage Term Deposit is £2,000.
- Maximum total investment in the 12 Month Advantage Term Deposit is £5,000,000.
- Interest capitalised and paid at maturity - interest will be credited to the account on the maturity date.
AXA Investment
- Your AXA Investment can include a Stocks & Shares ISA, an Investment Bond, an Open Ended Investment Company (OEIC) or a Unit Trust.
- Minimum investment is £2,000 for OEIC, Unit Trust and Stocks and Shares ISA (subject to subscription limits) and £5,000 for an Investment Bond.
- The AXA Investment is a medium (5 years) to long term (over 10 years) investment.
- The AXA Investment offers potential growth for your money through a range of professionally managed investment funds investing in assets such as shares, fixed interest securities, property and the money markets.
- Charges are taken to pay for the fund management and policy administration.
- The value of your investment may fall as well as rise, is not guaranteed and you could get back less than you invest.
Withdrawals
Withdrawals are not permitted from the 12 Month Advantage Term Deposit unless in the event of the death of the Account Holder(s).
12 Month Advantage Term Deposit: Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (currently 20%). AER Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
Investment: The Yorkshire Financial Advisory Service is provided by AXA Sun Life Services plc. Financial Planners represent and are employed by AXA Sun Life Services and are only able to advise on the life, pension and investment products and services provided by AXA. Your adviser will give you details of the company providing any product that is recommended to you. Yorkshire Bank is a trading name of Clydesdale Bank PLC which is authorised and regulated by the Financial Services Authority (FSA Register No. 121873). Clydesdale Bank PLC introduces only to AXA Sun Life Services plc which is authorised and regulated by the Financial Services Authority.
12 Month Advantage Term Deposit:
| Term | Gross* | AER+ pa | Net** pa | Apply |
|---|---|---|---|---|
| 12 months | 4.50% | 4.50% | 3.60% | In branch |
Rates are correct at 2nd August 2010.
Interest capitalised and paid at maturity - interest will be credited to the account on the maturity date.
*Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (currently 20%).
+AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
** Net Rate. Net Rate is the Gross Rate less income tax at the lower rate (currently 20%). Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from H M Revenue and Customs. Higher rate taxpayers may be liable to additional taxation according to their individual circumstances.
It's easy to apply
Before you can take up the Advantage Combination Plan you must have a free Financial Review with an AXA Financial Planner who will discuss the Investment options available to you.
Following completion of your Investment, you will become eligible for the enhanced 12 Month Advantage Term Deposit and a meeting will be arranged with a Banking Advisor to open this.
To find out where your closest AXA Financial Planner is located simply visit your local or nearest Yorkshire Bank branch or call us on 08457 365 365.
Summary Box
Key Product Information for our Savings Account
| Account Name | 12 Month Advantage Term Deposit | ||||
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Interest Rates (AERs)
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Refer to our website www.ybonline.co.uk or the notice displayed in Branch. | ||||
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Tax Status
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If your deposit is a Qualifying Time Deposit (as defined in the account Terms and Conditions) interest will be paid gross. On all other deposits interest will be paid net of basic rate tax unless you are entitled to register for gross interest and have completed the relevant documentation. | ||||
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Conditions for bonus payment
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N/A | ||||
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Withdrawal arrangements
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Withdrawals or early closure of the Term Deposit are not permitted under any circumstances during the Fixed Term except in the event of the death of the Account Holder (or one of them if joint account). See Terms & Conditions of the account for further information. | ||||
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Access
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Branch/Telephone | ||||
Your AXA Financial Planner will give you full details of the AXA investment element of the Advantage Combination Plan.