Key Product Features
1 Year Fixed Rate Bond
|
Investment |
Gross Rate % |
Net Rate % |
AER % |
Apply |
| Interest at Maturity |
£1,000+ |
4.50 |
3.60 |
4.50 |
 |
| Monthly Interest |
£1,000+ |
4.41 |
3.53 |
4.50 |
|
Summary Box
Key Product Information for our Savings Accounts |
| Account Name |
Fixed Rate Bond - 1 Year Fixed Rate |
| Interest Rates (AER) |
See the rates information above. |
| Tax Status |
Interest will be paid net, after the deduction of income tax at the specified rate, unless you register your account with us to receive gross interest. |
| Conditions for Bonus Payments |
There is no bonus available for this account. |
| Withdrawal Arrangements |
No withdrawals, closures or additions can be made during the term of the bond. |
| Access |
By Post or Branch. |
The 'gross rate' is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
The 'AER' stands for Annual Equivalent Rate and illustrates what the interest rate would be if it was paid and compounded once each year. |
Details Summary
- Interest is paid either on maturity and added to your original investment, or monthly to another Cheshire account or to a bank account. It can not be added back to the bond. Interest payable monthly is calculated on the last day of each calendar month.
- A cheque deposit will earn interest after 2 working days from the date the Society receives it. Standing order deposits earn interest from the date of funds transfer.
- Although you can’t add to this bond once it’s open, you can hold as many as you like.
- Just prior to maturity, we’ll write to you with reinvestment options. If we don’t receive instructions from you, then the bond will earn interest at the appropriate Premium Access rate tier. We’ll give you three options:
- Reinvest in a Fixed Rate Bond at the rate of interest offered at the time, or
- Transfer to one of the range of other accounts available from the Society, or
- Withdraw your investment and interest in full.
- In the event of an account holder’s death before maturity, the bond may either be transferred to the account holder’s representative/beneficiary or it can be closed, without penalty.
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