Adult's Fixed Rate Regular Saver (Issue 4)

Put money aside each month and watch your savings grow with our Fixed Rate Regular Saver. You can save as little as £10 per month and because it's a fixed rate, you will know how much your savings will grow by in a year.

Key features

  • 2.00% Gross p.a./AER fixed for the 12 month term
  • Minimum monthly investment £10; maximum monthly investment £100
  • Monthly payments can be made in branch (by cash or cheque) or by standing order. (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)
  • No withdrawals can be made from this account during the 12 month term
  • No monthly interest option available
  • Interest is paid at the end of the 12 month period when your funds, including interest earned, will be reinvested in a variable rate easy access account
  • For customers aged 16 years and over
  • One account per customer (single or joint)
2.00% Gross p.a./AER fixed
Interest Tier Annual
£10 - £100 per month AER 2.00% Gross 2.00%

Key product information for our Adult's Fixed Rate Regular Saver (Issue 4)

Account name

Adult's Fixed Rate Regular Saver (Issue 4)

Interest rates (AERs)

Fixed until the first account anniversary

Interest Tier Annual Monthly
AER Gross AER Gross
Maximum total investment over the 12 month term is £1,200. Interest is paid on the anniversary of the account opening.
£10 - £100 per month 2.00% 2.00% N/A N/A

Tax Status

Interest on this account is paid Gross.

Conditions for bonus payment

N/A

Withdrawal arrangements

No withdrawals are permitted within the 12 month fixed rate period. At the end of the 12 month period, your funds (including interest earned) will be reinvested in a variable rate easy access account and withdrawals will be limited to the account's Specific Terms and Conditions at that time.

Access

This is a Branch only account and cannot be used over the telephone, through the post or online.

Important information you need to know

About withdrawals

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.

Monthly payments

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.

Terms and conditions

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

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Example of interest calculated

Interest is fixed (calculated on a daily basis), and is paid on the first anniversary following the opening of the account (no monthly interest option available). For example, if you saved £100 per month during the 12 month term of the account, a total of £1,200 will be paid into your account. At 2.00% Gross p.a./AER, you will earn approximately £13.03 interest for the year. (This example assumes the initial deposit is made on 1 September 2016).

Savings guides

From novice savers wanting to understand the very basics of saving money to the seasoned savers just after a little guidance, our range of helpful and informative savings guides will have it covered.

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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.