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St. James's Place Bank iSaver   Cash ISA   Direct Access Savings

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Direct Access Savings

0.01% gross/AER variable. We can offer you a Direct Access Savings facility with no short term bonus or withdrawal restrictions.

Summary Box: Direct Access Savings

Direct Access Savings is an instant access variable savings facility offering phone and online access. Minimum deposit of £1.00.

We aim to give you sufficiently clear and relevant information, at the right time so that you can easily and quickly compare different savings products.

Summary Box
Account Name SJPB Direct Access Savings
What is the interest rate?

We pay a variable rate of interest on this facility, as shown in the table below.

£1+ 0.01% 0.01% 0.01% 0.01%
  • For the latest information about interest rates, please visit
  • Interest is paid annually or monthly on the key date, which is a date that you can choose in line with the conditions. You must have the same key date for all the facilities in your St. James's Place Bank account.
Can St. James's Place Bank change the interest rate? Yes. We can move the interest rate up or down at any time. For example when the Bank of England base rate changes we will review our rates. We will tell you in advance, your conditions explain when and how we will do this.
What might the future balance be?

Below is an example of what the future balance might be, after interest has been paid.

Annual Interest Monthly Interest
Illustrative Initial Deposit Amount Gross Rate Illustrative Balance After 12 Months Gross Rate Illustrative Balance After 12 Months
£1,000 0.01% £1,000.10 0.01% £1,000.10

This example assumes that:

  • You don't withdraw any money and interest is not paid out of the facility.
  • The interest rate stays the same.
  • You make your initial deposit payment on the day you open the facility and you don't make any further deposits.
How do I open and manage my account?
  • Your first account will be opened by your relationship partner.
  • You can open subsequent accounts over the phone.
  • You can manage your account by phone or online.
  • This facility can be opened in sole or joint names.
  • You must be 16 or over and a UK resident.
  • The minimum opening deposit is £1.
Can I withdraw money?
  • Yes. You can make withdrawals from your facility.
  • You can close your facility at any time.

Additional Information

  • Gross rate means we will not deduct tax automatically from the interest we pay on money in your account. It is your responsibility to pay any tax you may owe to HM Revenue and Customs (HMRC).
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.

Our Direct Access Savings facilities offer you lots of benefits, including:

  • Begin saving from just £1
  • Ability to manage your savings online or by phone;
  • Top up your savings whenever you want;
  • No restriction on deposits or withdrawals;
  • Deposit funds using your debit card, funds cleared instantly;
  • You can choose either monthly or annual interest.

Do consider if:

  • you would prefer to bank on the phone as well as online.

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