Interest is calculated daily and paid annually at 31 December and on maturity on 31 May 2024 into this account or a nominated account as stated on your application form. You can also choose to have your interest paid monthly into a nominated account.
No, interest is fixed for the term of the account.
The estimated balance after 12 months based on a deposit of £1000 would be £1,011.50. This estimation assumes that £1000 is deposited on 1 January with no deposit, or withdrawal transactions made and interest subsequently paid gross at 31 December.
This projection is provided for illustrative purposes only and does not take into account your individual circumstances.
You should read this information carefully in conjunction with our General Savings Terms and Conditions to ensure you understand them.
Upon opening one of these accounts you will automatically become a member and be bound by the Society's Rules, a copy of which is available on request.
The 14 day cancellation period does not apply to fixed rate bonds, so you cannot change your mind once the account is open and the application has been accepted. The money will remain in the bond until maturity.
If you require a third party to operate this account on your behalf a Power of Attorney should be in place.
Verifying your Identity
In order to help you to keep your money safe from fraud we verify the identity of all customers opening a new savings account with the Society. Click here to see the list of required ID documents.
To Open an Account
Download and complete the application form and return it to us by post or to the branch.
Financial Services Compensation Scheme
You must read the Information Sheet which gives all the details of the FSCS and how you are covered.
The FSCS is the UK's statutory fund of last resort for customers of financial services firms. This means that the FSCS can pay compensation to consumers if a financial services firm is unable, or likely to be unable, to pay claims against it. The FSCS is an independent body, set up under the Financial Services & Markets Act 2000 (FSMA).
For important information, including Savers General Terms and Conditions and identification, please click below for full details.
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