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2 Year Fixed Rate E-Bond

    Our 2 Year Fixed Rate E-Bond could be right for you if:

    • You want to open and manage your account online.
    • You want the security of a fixed rate of interest that's guaranteed for the term of the bond, rather than a variable rate that can go up or down and you have savings which you do not need immediate access to.
    • You want to choose between having your interest paid every month or once a year. Whichever option you take, you can have your interest either added to your account or paid into an external bank or building society account.

    Summary Box

    Account name 2 Year Fixed Rate E-Bond
    What is the interest rate?
    Annual Interest 1.20% gross pa/AER
    Interest is earned daily and added to your account at midnight on the anniversary of the date your account was opened.
    Monthly Interest: 1.19% gross pa/1.20%AER
    Interest is earned daily and each month's interest is added to your account at midnight on the same date your account was opened, or the last day of the month if shorter.
    Can Skipton Building Society change the interest rate? The interest rate is fixed for the term of this account.
    What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?
    • The estimated balance after the fixed term would be £1,024 based on the following assumptions:
      • £1,000 is paid in when the account is opened and interest starts being earned straight away
      • No further deposits or any withdrawals are made
      • The interest is paid annually and added to the account
      • The estimated balance is for illustrative purposes only and may be less if you open an account by debit card or cheque.
    How do I open and manage my account?
    • This account is available to UK residents aged 16 or over and can only be opened and managed online.
    • The first payment into the account can be made by debit card, electronic payment from another UK bank or building society account or transfer from another Skipton Building Society account. After that, you can also pay in by cash (in branch only, and we'll need to see some photographic ID for the first cash payment) or cheque (in branch or by post) for up to seven days after the date of your account opening. After this your account may be closed to further deposits at any time and without notice.
    • You can save from £500 up to £1,000,000.
    • Joint accounts are allowed.
    Can I withdraw money?
    • No, you can't withdraw money until the end of the fixed interest rate term, which is also known as 'maturity'.
    • At maturity your account will automatically transfer into a new 1 Year Fixed Rate E-Bond, unless you tell us otherwise, and you'll have 21 days to change your mind.
    • We'll email you at least 14 days before maturity to explain what will happen when your account matures and any other options available at the time.
    • You'll find more information about the maturity process in section 9 of the further terms and conditions.
    Additional Information
    • AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. We pay all savings interest gross, which means no tax is deducted. It's your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in the future. The AER allows you to compare the interest rates on savings accounts. The higher the AER, the better the return on your savings
    • It's worth noting that any of our accounts can be withdrawn from sale at any time and without notice.

    If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 850 1722, ask in branch or visit our Complaints page.

    The Financial Ombudsman Service provides a free and independent service for consumers, and can be contacted at The Financial Ombudsman Service, Exchange Tower, London E14 9SR. Telephone: 0800 023 4567.

    www.financial-ombudsman.org.uk

    For products and services bought online you can also refer to the Online Dispute Resolution platform (ODR) at http://ec.europa.eu/consumers/odr/. As we're a UK building society, the ODR will still refer you to the Financial Ombudsman Service as the alternative dispute resolution body. The Financial Ombudsman Service will refer you back to our complaints process unless you've already been through this.

    Need help?

    If you have a question or need help deciding then you can phone, email or call into a branch - we're always happy to help.

    Call us on 0345 850 1722
    Our lines are open Monday to Thursday 8am-8pm, Friday 8am-5.30pm and Saturday 9am-12pm.

    Apply

    Things to know before you apply

    • This account can only be opened and managed online.

    We like to make sure you are fully aware of the charges which we will make for a number of services and facilities relating to our investment accounts. You can see these in our Tariff of Charges [PDF].

    It is important that you read the terms and conditions carefully. These contain the details of your agreement with us for these accounts and we will rely on them for our relationship with you.

    You can apply for this account securely online. If you are not an existing Skipton Online customer, we will set up your online access as part of this process.

    Annual interest option

    • 1.20% gross pa/AER fixed

    Monthly interest option

    • 1.19% gross pa/1.20% AER fixed

    Financial Services Compensation Scheme

    Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

    Learn more about the FSCS

    FSCS - Protecting Your Money
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