Society Launches 5 Year Bond for Existing Members

12 May 2014

The Society has launched a 5 year fixed rate bond, available exclusively to existing customers who were a member (savings and/or mortgage) of the Society as at 31st March 2014.

The interest rate options are:

  • Annual Interest option – 3.00% AER/Gross per annum
  • Monthly Interest option – 2.90% Gross (2.94% AER)

The minimum investment amount is £2,500 or £5,000 if you require your interest to be paid monthly. The maximum investment amount is £500,000 for a sole or joint application. The maximum number of accounts which may be opened is one for a sole application or two for a joint application.

No partial withdrawals are allowed.

Closure of your bond is permitted at any time during the fixed rate period subject to a loss of interest equal to 365 days interest.

For more information or to apply online, please click here.

AER’ stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded each year. As every advert for a savings product will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

The 'Gross' rate is the contractual rate of interest payable before the deduction of income tax at the specified rate.

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