A guaranteed return comes as standard with our Fixed Rate Bonds
Our Fixed Rate Bonds are a great way to secure your savings, so you'll get a guaranteed rate of interest without any surprises.
Our Fixed Rate Bonds meet your needs if...
You have savings which you do not need immediate access to
You want the security of a fixed rate of interest guaranteed for the term of the bond rather than a variable rate which can move up and down
You want to choose between leaving your interest to build up the value of your bond or receiving your interest monthly
If you do want access to your savings please contact us to discuss other products which may better suit your needs. Withdrawal or early closure is not permitted during the term of the bond.
- The security of a fixed rate
- Invest up to £1,000,000 (£2,000,000 for joint applications) - minimum balance of £500 by cash (branch only) debit card, cheque or internal transfer from another Skipton Building Society account.
- Know your savings are working hard with interest calculated daily and paid annually or monthly
- Make additional investments into your bond until it becomes a closed issue, which may be at any time and without notice.
- No withdrawals allowed until maturity
What happens on maturity of your new bond?
We will contact you at least 14 days prior to the maturity date of your bond to explain the options open to you, these will include:
- Continue your investment in a new 1 Year Fixed Rate Bond‡ (the 'do nothing' option);
- Continue your investment in an alternative bond;
- Transfer to an easy access account;
- Add extra funds to the above three options;
- Withdraw your funds (in full or in part).
If you 'do nothing', we will add any interest due to your account and we will contact you within seven days of your bond maturity to confirm your investment. You will have 21 days from maturity to cancel this investment.
Our 'do nothing' option is a feature on maturity instead of transfering to an easy access account with a lower rate of interest.
Where our 'do nothing' option applies, your investment will continue in a Fixed Rate Bond from which withdrawals or early closure will not be permitted during the term of the bond.
If the 'do nothing' option applies, the Further Terms and Conditions (available by clicking the link on the table above) shall continue to apply, as well as the Investment Account Terms and Conditions, except that the rate of interest, the date that interest will be applied to your account and the minimum and maximum investment limits may differ. Should your investment balance on maturity fall outside the minimum or maximum investment limits, you will be able to continue your existing investment. Any new transactions will be subject to these limits.
‡The exact maturity date of the 1 Year Fixed Rate Bond will be confirmed in your maturity notice.
Your tax treatment will depend on your individual circumstances and may be subject to change in future.