Defined Access Issue 1 4.63%AER

The interest rate is variable and can be increased or decreased by Vida Savings at any time. If we increase the interest rate on your account, we’ll let you know as soon as possible. This can be after the new rate is effective. If we decrease the interest rate, we’ll notify you at least 14 days ahead of the change. See the Savings T&Cs for more information. 

The example for 0 withdrawals shows the projected balance after 12 months, assuming no further deposits or withdrawals are made, the interest rate doesn’t change, and interest is paid into this account annually.

The example for 5 withdrawals shows the projected balance after 12 months assuming an account opening date of 1st January, £10 is withdrawn on the 1st of each month for the first five months, no further deposits are made, and interest is paid into this account annually. The higher interest rate is applied until the fifth withdrawal, at which point the lower interest rate is applied.

The examples are for illustrative purposes only and don’t take into account any individual circumstances.

To open an account, you must be aged 18 and over and a UK resident for tax. You may open an account in sole or joint names, but the maximum number of account holders is two. The account must be for your personal use only.

Accounts are opened and operated online at www.vidasavings.co.uk and a valid email address must to be provided. You’ll be able to communicate with us about the account by email, secure message via the Customer Portal, phone, or in writing. 

The minimum initial investment for this account is £10. A deposit of at least this amount must be made within 21 days of your application request, or the account will be closed. You can make as many deposits as you like, up to the maximum account balance of £85,000 (not including any interest) and subject to our Maximum Customer Balance. Please refer to our Savings T&Cs for information about the Maximum Customer Balance.

All deposits must be added by electronic transfer from your Nominated Bank Account, which must be in your name.

Yes, you can withdraw money from this account at any time. Please see “What is the interest rate” above for full details. Withdrawals can be made to your Nominated Bank Account, or to another of your Vida Savings accounts, subject to the terms of that account. Log in and follow the on-screen instructions. 

For further details on how your Defined Access account works, please refer to our Savings T&Cs or the Special Conditions and Summary associated with this account.