Account name	40 Day Notice (Issue X) savings account
What is the interest rate?	Annual: X.XX% Gross** / AER* Monthly: X.XX% Gross** / X.XX% AER* _{AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.} _{* Gross is the rate of interest payable before any income tax is deducted.} _{Interest will be paid monthly on the day of the month you first paid into your account or annually on the anniversary of making your opening payment.}
Can Paragon Bank change the interest rate?	The interest rate is variable. Please see 7 in Product Terms and Conditions.
What would the estimated balance be after 12 months based on a £1,000 deposit?	£X,XXX.XX based on £1,000 over 12 months at X.XX% This is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account?	Online. Minimum balance £500 up to a maximum of £100,000 (plus any resulting interest). Account holders must be aged 18 or over and a UK resident for tax purposes.
Can I withdraw money?	Subject to a 40 day notice period.
Additional information	You have up to 30 days from the date of your application to make your opening payment. Provided you make your opening payment within 14 calendar days of your application we’ll guarantee the interest rate shown when we received your application or, if higher, the rate on our website at the time you make your opening payment. All deposits must be made from your nominated bank account. This account must be in the name(s) of both or either account holder.

What you will need

Important information

Terms & conditions

Your contact details
Your email address
Details of the UK current account, in your name (either as sole or joint holder), that you would like to set up as your nominated bank account

Power of attorney

If you are applying for this account as a power of attorney, you will need to call our customer services team on 0800 052 2222 to complete your application. For further information about power of attorney please visit our FAQs.

You can only make deposits via electronic transfer or by cheque from your nominated bank account. You can make additional deposits to your account (subject to the account not exceeding the maximum balance)
You can make withdrawals from your account providing you give us the required notice for your account and subject to it not falling below the required balance. Each notice period is based on calendar days and begins on the date we receive your withdrawal request
This account is a variable rate and your interest rate may change. When our interest rates change, we‘ll tell you about the change by email (or by post if we do not hold a valid email address for you). If we increase the interest rate we’ll let you know within 30 days of the increase. If we reduce the interest rate we’ll let you know within the required notice period or at least two months before the change, if the notice period is less than this. At the end of this period we will take it that you have accepted the change if you have not closed your account
We are registered under the Financial Services Compensation Scheme (FSCS) which means your eligible savings are protected up to the statutory limit of £85,000
If you change your mind about opening an account, you have the right to close your account within 14 days of receiving your welcome pack

Before you apply for your account please make sure you have read and understand both our Product Terms and Conditions and General Terms and Conditions

Paragon Bank PLC

Head office
Paragon
51 Homer Road
Solihull
West Midlands
B91 3QJ

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Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551

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