B helps make saving as easy as spending
B’s Savings Pots are created by you to help you get the things you want. Although your money can be allocated to different pots, the full amount still sits inside your B Instant Savings account. So you’ll still earn interest while you save, which helps you reach your goals even faster.
Set up pots, save up lots
Whether you’re saving for a ’Bungee Jump’ or ’Yacht’, your Savings Pots will show you how close you are to achieving your target. You can create as many Savings Pots as you need. You just give it a name and tell B how much you’d like to save.
Then, just tell B when you’d like to reach your target and how much you’d like to add to get the pot started. Decide how much you’d like to pay in each month and you’re well on your way to reaching your goals.
It takes two ticks to save
Once your Savings Pot is up and running, B will keep you up to speed on how it’s going, helping you to reach your goals. You can check the progress of all your Savings Pots at a glance and see how close you are to reaching a target.
B can give you some simple suggestions to help you reach your savings goals. To make things a little easier, it might suggest tweaking your payment amounts up or down, then show you what effect that’d have on your target date.
*AER (Annual Equivalent Rate) is the equivalent rate if the interest was paid and compounded once a year. Gross rate interest is the interest payable without taking account of any tax payable. Credit interest is calculated daily on the cleared credit balance in your account. B Current Account interest is credited on the last working day of each month. B Instant Savings account interest is applied in arrears on the last working day of each quarter. From 6th April 2016 we no longer deduct tax from any interest earned, following the introduction of a Personal Savings Allowance. If you earn interest over your Personal Savings Allowance you will be required to pay any tax due directly to HM Revenue and Customs. Please visit www.gov.uk (opens in a new window) for more information.