This might suit you if
Online Account
- You would like to operate this account online only
- You are happy to receive annual interest
- You do not require a Power of Attorney to run your account
One Year Fixed Rate Bond Issue 1
4.50%
Gross*/AER** Fixed
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*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability.
**AER – stands for Annual Equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
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Summary Box
One Year Fixed Rate Bond – Issue 1
| Annual Interest rate | 4.50% Gross* /AER** |
| Monthly Interest rate | 4.45% Gross* / AER** |
Interest is accrued daily and added once a year on 31st December at close of business and then again on the date of maturity.
No, the interest rate is fixed until the maturity date.
Following the maturity date (1 year from the date of opening) the total deposit plus any accrued interest will be automatically transferred to the highest paying branch based easy access rate (currently the Variable Instant Access account).
Refer to the General Savings Terms & Conditions and the Framework Contract for Payment Services for full details.
| £5,225.00 | 4.50% Gross* / AER** |
| £5,000 (Total monthly interest paid in 12 instalments over 12 months would be £222.50) | 4.45% Gross* / AER** |
Available to UK Residents and UK Tax Residents.
More than one Fixed Rate Bond can be held by any one member.
You must be over the age of 18, there is no maximum age restriction applied to this account.
How to open the account
You complete the registration through our online banking platform.
Pass an Electronic Identification check.
Send us at least £5,00 by bank transfer.
Managing your account
This account can only be managed through our online banking platform.
Please contact us if you need assistance from us or someone else.
Early closure and withdrawals are not permitted from this account.
The account can be closed without notice in the event of death being registered with the Society for any party to the account.
Unless you advise us of an alternative preferred contact method, the Society will write to you 14 days before the maturity date detailing the options available to you at that time, which include a full or partial withdrawal. Funds will be made available the next working day following maturity.
This product may be withdrawn at any time without notice.
*Gross rate – the contractual rate of interest to be paid on a savings account without any deduction being made in respect of potential tax liability.
** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
