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

  • A fixed rate of interest of 2.00% Gross p.a./AER fixed for the 12 month term
  • Minimum monthly deposit of £10; maximum monthly deposit of £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 (on the account anniversary) when your funds, including interest earned, will be reinvested in a variable rate easy access account
  • One account per customer (single or joint)
  • This is a Branch only account and cannot be used over the telephone, through the post or online.
2.00% Gross p.a./AER fixed
Interest Tier Annual
£10 - £100 per month AER 2.00% Gross 2.00%

Summary Box

Account name

Adult's Fixed Rate Regular Saver (Issue 4)

What is the interest rate?

Interest Tier Annual Monthly
AER Gross AER Gross
Interest is fixed and paid on the anniversary of the account opening.
£10 - £100 per month 2.00% 2.00% N/A N/A

Can the West Brom change the interest rate?

The 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 would the estimated balance be after 12 months based on a £100 per month deposit?

If you saved £100 per month during the 12 month term of the Adult’s Fixed Rate Saver (Issue 4), a total of £1,200 will be paid into your account and the estimated balance after 12 months would be £1,213.04.

This example assumes the initial deposit of £100 is made on 1 November 2016, no withdrawals are made and all subsequent deposits of £100 are made on the first day of each month. It is provided for illustrative purposes only and does not take into account your individual circumstances.

How do I open and manage my account?

This account can only be opened and used at a branch. You cannot use this account over the telephone, through the post or online.

You can open the Adult’s Fixed Rate Regular Saver (Issue 4) with a minimum deposit of £10. The minimum monthly deposit is £10 and the maximum monthly deposit is £100. The maximum total investment over the 12 month term is £1,200.

You can make monthly payments of up to a maximum of £100. If you pay in more than the maximum monthly deposit of £100 in any calendar month, we reserve the right to return the overpayment to you.

Can I withdraw money?

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.

The Adult’s Fixed Rate Regular Saver (Issue 4) cannot be closed before the end of the 12 month term.

Additional information

Interest on this account is paid Gross, without the deduction of tax.

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.

Did you know?

Gross interest – Gross is the rate of interest 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 09/11/2016.

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 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 Terms and Conditions.

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The information provided in the Summary Box is a summary of the key features of the Adult’s Fixed Rate Regular Saver (Issue 4). You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.

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.