Fixed rate bonds
All you need to know
Manage your money on-line
With this account you have the ease and convenience of being able to check and manage your money on-line and have access to your cash 24 hours a day, 365 days a year.
Choose the investment term to suit you
Fixed Rate Bonds are available for six months, one, two, three or five years. As you might expect, the longer you can commit your savings to us, the more interest your money will earn.
Monthly income option
If you want to receive the interest from your account monthly as an income, we can arrange for it to be paid to an account of your choice – all our bonds offer this facility.
A guaranteed rate of interest
So you’ll have a guaranteed return on your investment no matter what happens to interest rates. This is on condition that the required minimum investment remains in the bond until maturity. For six month and one year bonds the interest is paid on maturity; for the two, three and five year bonds the interest is paid annually on 1 January.
Access to your money whenever you want
Although you can make withdrawals from the bond before it matures, you will lose some interest for doing so - but only on the amount withdrawn. So for a six month bond the loss will be a sum equivalent to 30 days' interest on the amount withdrawn; for one year bonds a sum equivalent to 50 days' interest; for two and three year bonds a sum equivalent to 120 days' interest and for five year bonds the loss will be a sum equivalent to 180 days' interest.
Other information
The minimum investment and balance is £1,000; the maximum investment is £1 million.
You can only make one investment per bond, although you may take out more than one bond.
Towards the end of the term of the bond, we will contact you to discuss the options available to you when the bond matures. Unless you advise us otherwise, we will transfer the capital and interest from your bond on maturity to a variable rate, easy access Instant Reserve account.
Please indicate your interest payment requirements on the application form. If the interest earned on the money in an account is less than £2 in any interest payment period, the interest cannot be credited to an account outside of the Society.