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With our 2 Year Fixed Rate Bond you can enjoy the certainty of a fixed rate of interest for the 2 year term.
| 4.30% Gross p.a./AER Fixed | |
| Interest Tier | Annual |
| £1,000+ | AER 4.30% Gross 4.30% |
2 Year Fixed Rate Bond
| Interest Tier | Annual | Monthly | ||
|---|---|---|---|---|
| AER | Gross | AER | Gross | |
| Interest is fixed and paid annually or monthly. Annual interest can be added to the account or paid into another account and is paid on 30 April (starting from 30 April 2025). Monthly interest must be paid to another bank or building society account and is paid on the last working day of each month (or on the first working day of the month if paid to another West Brom account). | ||||
| £1,000+ | 4.30% | 4.30% | 4.30% | 4.22% |
The interest rate is fixed, so it will not change during the term of the bond.
|
Deposited amount |
Estimated value after 12 months |
|
£1,000 |
£1,043.00 |
This example assumes:
This example is provided to help you compare savings accounts and does not take into account any individual circumstances.
You can open this account in branch, by post or on our website.
The minimum opening deposit is £1,000 and the maximum deposit is £1,000,000 (single) or £2,000,000 (joint).
If opened in a branch, you will then manage this account in any of our branches. If you open the account by post, you will then manage your account by telephone/post. If the account is opened on our website, you will be able to access your account using our savings portal.
You can view your account using our savings portal, even if you have opened the account in a branch or by post. For more information about how to register for our savings portal and the access our savings portal provides, please visit: www.westbrom.co.uk/savingsportal.
You can make additional deposits into your Fixed Rate Bond until it is withdrawn on 9 May 2024 (or earlier if fully subscribed). Deposits received after the Fixed Rate Bond has been withdrawn will be returned to you. We will not contact you to let you know when your Fixed Rate Bond has been withdrawn.
To make an additional deposit you can:
You cannot make any withdrawals from your Fixed Rate Bond until the end of the fixed term. This includes moving your money to another savings account with the West Brom.
If your interest is paid annually and added to your Fixed Rate Bond, you will not be able to withdraw it during the fixed term. To avoid this, you can arrange for your interest to be paid directly to another bank or building society account. Monthly interest is paid directly to another bank or building society account.
If you change your mind after you’ve opened your account, don’t worry. If you tell us within 14 calendar days, we’ll give you your money back with interest straight away.
We pay your interest gross. The gross rate is the interest payable before the deduction of tax.
You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
We’ll write to you, within 14 days before your bond matures, with details of how you can re-invest your savings with us or take out some or all of your money. If we don’t hear from you, we will transfer your balance to either another Fixed Rate Bond of a similar or shorter term or, if such a bond isn’t available at the time, an easy access account.
Gross – is the rate of interest payable before the deduction of tax.
AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year. All rates quoted are correct as at 12/04/2024.
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 – the Personal Savings Allowance was introduced on 6 April 2016 and means that the first £1,000 of overall savings interest for basic rate taxpayers and the first £500 for higher rate taxpayers are free from income tax. (There is no allowance for additional rate taxpayers.) From this date, we stopped deducting any tax from the interest paid to you (ISAs are tax-free). You are responsible for paying any tax due to HM Revenue & Customs (HMRC). For further information about the Personal Savings Allowance, please contact your local HMRC office.
Protection for savers – your eligible deposits with the West Brom are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits held above the limit are unlikely to be covered. You can visit www.fscs.org.uk for more information.
Here you will find both Product Specific and General Investment Terms and Conditions.
The information provided in the Summary Box is a summary of the key features of the 2 Year Fixed Rate Bond. You should also read the Specific Terms and Conditions and the General Terms and Conditions which relate to this account.
You can apply for this account online as a sole applicant. Once your account has been opened you can register for our Savings Portal to see your account online.
Download and complete your application form, then send it to:
FREEPOST THE WEST BROM
(Please note: this freepost address must appear in uppercase and no further address or stamp are required)
Use our branch finder to find your nearest branch.
Your eligible deposits with West Bromwich Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
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