Loyalty Saver
Why choose Loyalty Saver?
Start saving with as little as £1.
Lodge money and make a withdrawal whenever you need to.
Instant access to your savings.
Eligible for Round Ups.
To apply, you need to be 16+ and a UK resident.
Summary Box
Account name: Loyalty Saver
1. What is the interest rate?
2. Can Ulster Bank change the interest rate?
Yes, these rates are variable. If the rates are going down, we’ll give you at least 60 days’ notice. If they are going up, we’ll inform you before the change or shortly afterwards. For more information please see the Your Savings Account Terms (PDF, 342 KB)
3. What would the estimated balance be after 12 months based on a range of deposits?
4. How do I open and manage my account?
- You must be aged 16 years or over and be a UK resident to open an account.
- You can open and manage your account on our mobile app, online or by telephone.
- To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself. You'll of course be able to phone us too if you need help managing your account. You can also pay money into your account at one of our cash deposit machines.
- You must be registered for the Anytime Banking services in order to manage your account via online, telephone or on the mobile app.
- No minimum deposit is required to open the account and no minimum deposit needs to be made on a regular basis.
- There is a maximum balance limit of £1,000,000. If the account balance exceeds £1,000,000 we may ask you to transfer the excess funds into another account.
- You can use Round Ups with Loyalty Saver.
5. Can I withdraw money?
Yes. No notice is required.
You can withdraw money:
- in branch
- by transfer to any other account based in the UK (online, by telephone or on the mobile app)
For online & telephone transfers, you need to set up Anytime Internet Banking and Telephone Banking and order and enable a card reader. An Anytime Banking card and PIN will be automatically provided for use with the card reader if you do not have an existing Ulster Bank debit card. Once you’re set up, you can withdraw money by online transfer, on the mobile app or through telephone banking, and no notice is required. If you are an existing customer who already has set up Anytime Internet Banking you can access your account as normal.
Please note there are daily limits on the amount that can be transferred from your account online, through telephone or mobile banking.
Information on the current daily limits is available on our website or by contacting Anytime Telephone Banking.
6. Definitions
- AER: Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.
- Gross: The interest rate you are paid without the deduction of UK income tax.
- p.a.: per annum (per year)
7. How do I get additional support with my banking?
Banking My Way is a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all of our colleagues are aware of this. The information will be shared on our internal systems and therefore you will not need to repeat these requirements every time you interact with us.
Once your account is open, you can record this through Anytime Banking or with our colleagues in branches or over the phone.
Financial Services Compensation Scheme
Your eligible deposits held by a UK establishment of Ulster Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.
See FSCS Protecting Your Money (PDF, 3.7 MB) for more information about the scheme and how it protects your money.
Get ready to apply
Before you apply, we need to check you're happy with a few things and ask you a few questions up front, then we can make your application as quick and simple as it can be.
First things first. You can apply if you:
are aged 16 or over and a UK resident
Now please take a look at the important legal info
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. And happy to view your statements in Anytime Banking - not posted. Please take some time to review, print and/or save the important information.
How your information might be used
It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.