Important information you need to know
Once you have opened your new Adult’s Fixed Rate Regular Saver (Issue 4) you will not be able to make any withdrawals until the end of the 12 month term.
You can make monthly payments of up to a maximum of £100. If you pay in more than the maximum monthly investment of £100 in any calendar month, we reserve the right to return the overpayment to you.
Closing your bond early
Your Adult’s Fixed Rate Regular Saver (Issue 4) cannot be closed before the end of the 12 month term.
What is a fixed interest rate?
Your Adult’s Fixed Rate Regular Saver (Issue 4) has a fixed interest rate which means that we will not change the interest rate paid on your account for the next 12 months.
What happens at the end of the 12 month term
We will write to you, within 14 calendar days before maturity, to let you know that your Adult’s Fixed Rate Regular Saver (Issue 4) is coming to an end and remind you that we will automatically reinvest your funds into a variable rate easy access account.
When interest is paid
Interest on your account is paid at the end of the 12 month term. For further information please read the Specific Terms and Conditions.
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 01/09/2016.
Identification – when you open an account with the West Brom we may need to confirm your identity. For full details on why this is required, and the types of identification accepted, please refer to the Society’s 'Important information on identification' leaflet.
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 tax-payers.) 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.