Our Fixed Rate Bond Issue 11 – 2 Year Bond is designed for those who can afford to put £5,000 or more to one side for two years, in return for a higher rate of interest. It’s important to remember, though, that you will not be able to access your funds during the two years. This is a limited edition product and the amount we can have in this type of account at a given time is capped. This means that we might have to withdraw this edition of the Fixed Rate Bond at short notice, so it is important to let us know if you would like to reserve yourself an account, by contacting us as outlined below.
The Society is required by the Financial Conduct Authority to provide you with certain key information about this account in the form of a Summary Box. You should read this to enable you to make an informed decision and compare our product with those of other providers. Below, you have the option to download and print or save the full summary box, view elements of it one-by-one, or expand the accordion further down this page and view the full product details in one go.
Please Note: if you choose to open an online account, this can only be managed online. Should you choose to open a branch account, this must be managed either by visiting the branch, or by post.
This might suit you if
Online Account
- You would like to operate this account online only
- You would like to lock your funds away for a 2-year period
- You are looking to fix your interest rate
- You are happy to receive annual interest
- You do not want a passbook
- You do not require a Power of Attorney to run your account
Branch Account
- You would like to operate this account in branch or through post
- You would like to lock your funds away for a 2-year period
- You are looking to fix your interest rate
- You would like the option of receiving your interest monthly, to top up your income
- You’d like a passbook to monitor your savings offline
- You may require a Power of Attorney to run your account
4.25%
Fixed / Gross*/AER**
For balances over £5,000
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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
Fixed Rate Bond Issue 11 – 2 Year Bond
Annual Interest
4.25% Gross* / AER** for balances over £5,000.
Interest is calculated daily from date of opening and added to the account annually on 31st December at close of business with the final interest payment credited at maturity.
Monthly Interest
4.20% Gross* / AER** for balances over£5,000.
Monthly Interest is calculated daily from date of opening and must be credited to a nominated account other than this Fixed Rate Bond. Interest is credited on the last working day of each month.
Yes, the interest rate for this account is variable.
Refer to the General Savings Terms & Conditions and the Framework Contract for Payment Services for full details.
Annual Interest
£5,434.03 at the maturity date.
The Annual Interest figure assumes that interest is paid back into the account.
Monthly Interest
£5,000.00 at the maturity date.***
Monthly Interest is calculated daily from date of opening and must be credited to a nominated account other than this Fixed Rate Bond. Interest is credited on the last working day of each month.
*** The total amount of Monthly Interest paid in 24 instalments over the 24 months would be £420.00.
These figures are for illustration purposes only.
Available to UK Residents and UK Tax Residents. More than one Fixed Rate Bond can be held by any one member. No minimum or maximum age restrictions apply to this account.
Complete the application form, relevant declaration(s) and provide necessary identification then forward together with the deposit (payable to the account holder/s) to the Society’s office.
The minimum opening deposit is £5,000. No further deposits are allowed. The opening deposit must be a single transaction unless formally agreed with the Society before an account application is submitted.
This account can be opened and managed in branch. Please contact the Society for information regarding Third Party Assistance.
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.
Refer to our General Savings Terms & Conditions for more information on withdrawals.
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.
How to apply
To apply, please complete the application form below and either call in to our branch or send the completed form with your opening deposit to the Beverley Building Society at 57 Market Place, Beverley, East Yorkshire, HU17 8AA
Apply Online Forms, guides and Ts & CsFSCS Information Sheet and Exclusions List
