3 Year Fixed Rate Bond

If you’re saving for something special, or want a regular income from your savings, but don’t need access to your money, then why not make the most of your savings with our 3 Year Fixed Rate Bond.

Key features

  • 1.00% Gross p.a./AER fixed until
    31 October 2019 
  • Minimum investment £1,000; maximum £1,000,000 (single) or £2,000,000 (joint)
  • No additional investments are allowed to this account during the 3 year term
  • Monthly interest option available
  • No withdrawals can be made from this account during the term
1.00% Gross p.a./AER Fixed
Interest Tier Annual
£1000+ AER 1.00% Gross 1.00%

Key product information for our 3 Year Fixed Rate Bond

Account name

3 Year Fixed Rate Bond

Interest rates (AERs)

Fixed until 31 October 2019

Interest Tier Annual Monthly
AER Gross AER Gross
Rates are fixed and monthly interest must be paid to a separate bank or building society account.
£1000+ 1.00% 1.00% 1.00% 1.00%

Tax status

Interest on this account is paid Gross.

Conditions for bonus payment


Withdrawal arrangements

No withdrawals are allowed during the 3 year term.


This account is available through the Branch or Direct. This means that you can open your account at a branch or through the post. You cannot use this account online. No additional investments are allowed during the 3 year fixed term.

Important information you need to know

About withdrawals

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.

Did you know?

Gross interest – Gross is the rate of interest payable without the deduction of tax.

AER – stands for Annual Equivalent Rate and this illustrates the amount of interest paid on your account if it were to be paid and compounded once a year. All rates quoted are correct as at 12/10/2016.

Personal Savings Allowance – from 6 April 2016, the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers will be free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we won’t deduct any tax from the interest we pay you. ISAs will remain tax-free. You will be responsible for paying any tax due to HM Revenue & Customs (HMRC) but you will no longer need to complete an HMRC R85 form to receive gross interest. For further information please contact your local HMRC office.

Terms and Conditions

Here you will find both Product Specific and General Investment Terms and Conditions.

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Your eligible deposits with West Bromwich Building Society are protected up to a total of £75,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £75,000 limit are not covered.