Fixed Term Business Bond 8 Making your money work harder

Fixed Term Business Bond 8

Making your money work harder

Fixed Term Business Bond 8

This account is suitable for incorporated businesses or limited liability partnerships that require a fixed rate of interest and can keep their money in an account for a set period.

Fixed interest rate until 30 June 2021
Save £10,000 - £500,000
Annual interest paid on 30 June

Product Terms & Conditions - Summary Box

Gross* / AER** %
£10,000+1.65

Interest is calculated on a daily basis and is paid annually. Interest can be added to your Bond or paid to your business bank account. Once added to the account interest becomes subject to the same withdrawal conditions as the capital.

*Interest is paid without tax deducted. Some savers will be required to pay tax on savings interest; this should be arranged directly with HMRC through your tax return.

**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.

This account has a fixed rate of interest from the date the account is funded until the maturity date.

£10,360.94

This projection is for illustrative purposes only.

This would be the balance after 26 months, assuming the interest earned is added to the account.

You can open and manage this account online or in branch.

You must fund the account within seven days of opening.

Signatories must be permanent UK residents and aged 18 or over.

You can pay into your account by electronic payment or by cheque. Cash deposits are not allowed.

The minimum balance is £10,000 and the maximum balance is £500,000 per business.

Customers may hold more than one of these accounts but the maximum holding across all accounts with the Society is £500,000 per business.

Withdrawals, transfers or closure are not permitted during the term of the account.

On maturity the account changes to our current business easy access account and interest rate, or the nearest equivalent if this account is no longer available, without further notice.

Your funds will be available on the first working day following maturity.

You can close your account without penalty, for 21 days following maturity. We will contact you at least two weeks before maturity with details of your options.

Closure of the bond must be made by transfer or electronic payment directly to an account in the same business name.

This product may be withdrawn from sale at any time without notice.

We reserve the right to close your account and return the funds to you.

This is a deposit account, not a share account. Deposit account customers do not become members of the Society, and therefore have no voting rights or entitlement to windfall benefits in the event of a merger or takeover.

For full terms and conditions for savings accounts, please refer to our General Savings Account Terms and Conditions.

In the event of any apparent conflict between these Terms and Conditions and the General Savings Account Terms and Conditions, the Product Terms and Conditions take precedence.