Once you have opened your new Fixed Rate Bond you will not be able to make any withdrawals until the end of the fixed term.
Closing your bond early
Your Fixed Rate Bond cannot be closed before the fixed term ends.
What is a fixed interest rate?
Your Fixed Rate Bond has a fixed interest rate which means that we will not change the interest rate payable on your account during the term of your bond.
When the bond matures
We will write to you, within 14 calendar days before maturity, to let you know that your Fixed Rate Bond is coming to an end. If we don’t hear from you before the maturity date we will automatically reinvest your savings in either: a Fixed Rate Bond of a similar or shorter term or, if the Society doesn’t have such a Fixed Rate Bond available at the time, an easy access account. As a useful reminder, perhaps make a note of your maturity date.
If you change your mind at maturity
Don’t forget you have a 21 calendar day ‘cooling off’ period, from the day after your bond matures, to change your mind if you feel this account is no longer suitable for you.
How and when interest is paid
Interest on your account will be paid annually, or monthly. For further information please read the Specific Terms and Conditions for your Fixed Rate Bond on the terms and conditions tab.
Withdrawing your interest
If your interest is paid annually and added to your Fixed Rate Bond you will not be able to withdraw it during the term. To avoid this, you can arrange for your interest to be paid directly to another bank or building society account. Monthly interest cannot be added to your Fixed Rate Bond and must be paid directly to another bank or building society account.