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3 Year 66+ Member Income Bond Issue 1

4.50% gross /AER fixed
(Monthly Interest)

Ready to apply?

This account might be right for you if you:

  • are aged 66 or over at the time of applying
  • have held a Skipton mortgage or savings account continuously since 12/06/2022
  • have a lump sum between £10,000 and £25,000 to deposit
  • don't want to continue to pay in after 07/08/2024
  • want your interest to be paid monthly to a non-Skipton account
  • don’t need access to your savings during the fixed term

Unless you tell us otherwise, when the fixed term ends this product transfers into an easy access account, which has a variable rate of interest.

Summary Box

Account name 3 Year 66+ Member Income Bond Issue 1
What is the interest rate?
Annual Interest No annual interest option available.
Monthly Interest:

4.50% gross/ AER

  • This account earns interest daily and it's paid to your nominated account on the same date in the month your account was opened. If there’s no such date, it will be added on the last day of the month.
  • If your interest is due to paid on a non-business day, we’ll pay it on the first business day after the day we’d have added it to this account. Business days exclude Saturday, Sunday and bank holidays.
Can Skipton Building Society change the interest rate?

The interest rate is fixed for the term of the account.

What would the estimated balance be at the end of the fixed term based on a £10,000 deposit?

The estimated balance at the end of the fixed term would be £10,000.

The estimated interest earned over the term is £1,350, which equates to 36 monthly payments of £37.50 into your nominated account. It may be less for accounts opened by debit card or cheque, because interest won’t be earned until your account receives the deposit.

These estimations assume that:

  • the account is opened with £10,000 and starts earning interest straight away
  • no further deposits or withdrawals are made
  • the interest is paid monthly
  • the interest is paid to your nominated account.

Estimated balances are for illustrative purposes only.

How do I open and manage my account?
  • This account is available to UK residents aged 66 or over at the time of applying. You must hold a continuous membership with Skipton Building Society (a Savings Share account or Mortgage) starting on or before 12/06/2022 with a minimum balance of £1.
  • To open and manage this account, a valid email address must be provided, alongside details for your nominated account, where you would like your interest to be paid. This must be a UK bank or building society account in your name, it cannot be another Skipton account.
  • You can open and manage it through Skipton Online, in branch, by post or by phone. Once opened, you can also manage your account in the Skipton App. You may be required to set up appropriate security and access measures, and these might differ depending on how you choose to manage the account.
  • The minimum opening and operating balance for this account is £10,000.
  • Any payments into this account need to be received on or before 07/08/2024. After this, the account will be closed to payments in.
  • The maximum balance for this account is £25,000.
  • Joint accounts aren’t allowed.
  • You can only hold one 66+ Member Income Bond Issue 1 (either a 66+ Member Income Bond or 66+ Member Income Branch Bond).
Can I withdraw money?
  • You’ve 14 days from when you open your account to notify us (in writing, in branch or by phone) if you wish to cancel your account.
  • You can’t withdraw money until the end of the fixed term.
  • At the end of the fixed term, which is known as ‘maturity’, your account will automatically transfer into a new easy access account, which has a variable rate of interest, unless you tell us otherwise when we contact you before maturity. You can find out more about the maturity process in term 9 of the further terms and conditions.
Additional information
  • The AER shows what the interest rate would be if interest was paid and added each year. But for this account, the interest is paid monthly to your nominated account.
  • 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 future.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

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

We’ll set up your Skipton Online access as part of your secure online application, if you haven’t already registered.

Ready to apply?

Monthly interest

4.50% gross /AER fixed
(Monthly Interest)

Apply online

Other ways to apply

You need to have an active email address to open this account. If you don't have one, speak to us over the phone or in branch to find an account that's right for you.


If you'd like to open your account in branch, please contact your local branch to arrange an appointment. Branch finder.


You can apply for this account over the phone. Call us on 0345 608 0783.


Return your application form and cheque to:

Customer Delivery
Skipton Building Society
Principal Office
The Bailey
North Yorkshire
BD23 1DN

General investment account application form [PDF]

Proving your identity

We may require identification to open the account. If you're 18 or over and on the electoral roll for your current address we may be able to verify your identification electronically, to do this please call us on 0345 608 0783 and we'll let you know straight away if you've passed our checks.

If we can't verify your identity electronically, or if you're under 18, you'll need to provide us with proof of ID as set out in our Proving your identity document [PDF].

We have an internal complaints procedure. For more information, please call us on 0345 850 1722, ask in branch or visit our Complaints page.

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

You're protected up to £85,000

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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