Two Year Stepped Fixed Rate Bond Launched

18 August 2015


To celebrate this year’s 2015 Annual General Meeting, the Society has launched a Two Year Stepped Fixed Rate Bond which is available to both new and existing customers.

The Two Year Stepped Fixed Rate Bond – Issue 1 offers an attractive fixed rate of interest which increases every year over a two year period. It provides an ideal way to invest money that you wish to see grow, which you do not require access to for a period of two years.

  • Year one – 1.75% AER / Gross per annum (Annual Interest)
  • Year two – 2.25% AER / Gross per annum (Annual Interest)
The minimum investment for the Stepped Fixed Rate Bond is £2,500, while the maximum investment is £25,000 for a sole application or £50,000 for a joint application. Only one account per person or one joint account may be opened.

No partial withdrawals are allowed from this bond during the two year fixed rate period. Cancellation rights do not apply to this fixed rate bond. There is no 14 day cooling off period if you subsequently feel that the bond does not meet with your requirements. You should not invest if you think you will need to access your money during the term of your bond.

Chief Executive, Andrew Lewis, commented: “After another exceptional year of growth, the Society is pleased to launch this competitive stepped fixed rate product which is available to members and non-members alike. The Two Year Stepped Fixed Rate Bond is certain to be a popular product for us, and it’s just one of the ways we hope to thank our members during this year’s 146th Annual General Meeting.”

Please click here for full details of the account, including full terms and conditions, or to apply online.

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