Our Fixed Rate Bond Issue 02 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.
Fixed / Gross*/AER**
For balances over £5,000Find out more
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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.
Fixed Rate Bond Issue 02
0.75% 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.
A monthly interest option is available. The interest rate is reduced by 0.05% for this option. Monthly interest must be credited to a nominated account other than this Fixed Rate Bond and is credited on the last working day of each month.
No, the interest rate is fixed until the maturity date.
£5,075.28 at the maturity date.
This assumes that annual interest is added to the account.
This figure is 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.
Following the maturity date the total deposit plus any accrued interest will be automatically transferred to the highest paying branch based easy access rate (currently the Instant Access account). 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 and the Faster Payment Form & the Framework Contract for Payment Services 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 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
If you wish to open a Fixed Rate Bond Issue 2 Account, please contact the Society to request an opening pack to be sent to you and the opening funds to be reserved