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Home | News | My Policy | Products | Services | Documents | Governance Registered and Incorporated under the Friendly Societies Act 1992. Register No. 145F Founded in 1880.
Authorised and regulated by the Financial Services Authority. FRN 109986. Copyright © Holloway Friendly 1998 - 2008 |
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The Extra Contributions Account is only available to existing members of the Society and is available whilst membership is maintained.
The maximum balance on the account is £1,500 although interest earned can increase this figure if reinvested.
The Account is effectively a postal deposit account paying interest on an annual basis.
Deposits and withdrawals need to be made by cheque and a notice period of three days may be required to make withdrawals.
No deduction is currently made for taxation on interest credited. Income earned on the account is however taxable and should be declared to the Inland Revenue.