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PENNY POST PRIME ACCOUNT

Open to members who have been with Penny Post Credit Union over 5 years.

Need to hold Regular Savings Account.

Members can save regularly (minimum regular weekly amount £10) or pay in lump sums.

Receive monthly interest (on or near 24th).

1.5% AER (variable).

Maximum savings in the account £10,000.*

No restrictions on withdrawals.

Interest paid gross.**

Annual Dividend is not paid on this account.

*The maximum savings allowed in the account is £10,000. The maximum total savings for each member held in all Penny Post Credit Union accounts is £38,000. Where the interest would take the total over £10,000 it will be transferred into the Regular Savings Account.

**IMPORTANT Not taxed at source. UK tax payers will be liable for tax on this account. HMRC will be aware of interest payments. Account holders need to declare interest.