Tell me moreElements account
Savings from a sustainable world
Interest in a wide range of environmental issues has grown significantly in recent years and accordingly some customers now wish to reflect their commitment to 'Green' issues, not only in the way that they live their lives but also in the way that they save. Others may simply recognise the potential growth in companies whose business it is to address environmental change. Increasingly, many customers will strive to combine the two.
With this in mind, the Elements - Issue 2 structured deposit account has been designed to benefit from an attractive rate of interest and, at the same time, take advantage of the potential growth in emerging 'Green' business sectors through the 'RBS Green Index' all with full capital protection if you hold the account until maturity.
This account has a minimum deposit of £10,000 - your money is split into two elements, which are:
- 1 year cash deposit paying 7% gross AER
1/3 of your deposit is placed into a 12 month fixed rate account that will receive a guaranteed interest rate of 7%. This one third plus interest due will be re-paid to you after just one year. - 3.5 year 'Green' business sectors deposit
2/3 of your deposit will be placed into a three and a half year account with any return based on the performance of the 'RBS Green Index'. Upon maturity, you will receive this two thirds of your deposit plus 70% of the calculated growth in the index on this two thirds.
| Key information | |
|---|---|
| Minimum deposit | £10,000 |
| Currency | GBP |
| Offer period | 7th July 2008 - 26th September 2008 |
| Last date for applications | 26th September 2008 |
| Last date for funds | 26th September 2008 |
| Start Date | 9th October 2008 |
| Maturity Date - 1 Year Cash element | 9th October 2009 |
| Maturity Date - 3.5 Year 'Green' element | 11th April 2012 |
Q. What is the minimum deposit?
You'll need a minimum of £10,000 sterling to open the account. If your deposit can't be split equally between the two elements, we will put the remaining amount in the cash deposit portion.
Q. When can I apply?
You can apply anytime between 7th July and 26th September 2008. However, we may close the offer early if it is fully subscribed.
Q. What happens to my funds between the date that my account opens and the start date?
Your funds will be placed on deposit until the start date and will earn interest at 0.5% below the UK base sterling base rate. Any interest earned prior to the start date will be added to your deposit. You must ensure that your Elements Issue 2 account is funded by 26th September 2008.
Q. When will the two elements mature?
- 1 year cash element 9th October 2009
- 3.5 year 'Green' business sectors element 11th April 2012
Q. Can I add to my deposit during the term?
No you cannot add to your initial deposit or either element of your Elements Issue 2 account after the closing date for applications.
Q. Can I close my account before it matures?
You may choose to close your account at any point during the term, but an early closure fee may be payable which will include an administration fee of at least £250.00. An estimate of the early closure fee can be provided upon request. A request to close your account early may mean that you receive less than the full amount initially deposited.
Q. Can I make withdrawals?
No - partial withdrawals or partial closure of the account are not permitted.
If you require any further information, simply contact your Relationship Manager or local branch. Alternatively, you can contact us on:
- Jersey + 44 (0) 1534 285 200
- Guernsey + 44 (0) 1481 710 051
- Isle of Man + 44 (0) 1624 646 464
