2 Year Fixed Rate Limited Access Bond 156

0.45% gross pa/AER fixed
(Annual interest)

Ready to apply?

This account may be right for you if:

  • you have a lump sum to invest and you don't want to continue to pay in after 14/07/21
  • you don't need access to more than 25% of your savings during the term
  • you do not need to make a withdrawal before 15/07/21

Summary Box

Account name 2 Year Fixed Rate Limited Access Bond 156
What is the interest rate?
Annual Interest 0.45% gross pa/AER
Interest is earned daily and paid on the anniversary of account opening and on maturity.
Monthly Interest: No monthly interest option available.
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 at the end of the fixed term would be £1,009 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 on maturity and added to the account
  • Estimated balances are for illustrative purposes only and may be less for accounts opened 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 in any of our branches, by post or over the phone (a working email address is required when opening by phone).
  • You can pay into this account until 14/07/21. After this, your account will be closed to further deposits. If we don't receive your first payment in before this date, the account will not be open.
  • You can save from £500 up to £1 million per account.
  • Joint accounts are allowed.
Can I withdraw money?
  • You can withdraw by phone (if you have set up telephone access), by post or in branch. You don’t need to give us notice and there are no penalties.
  • From 15/07/21, subject to the minimum operating balance of £500, you can make multiple withdrawals up to a combined total of 25% of the balance as at midnight on 14/07/21. Prior to 15/07/21 you will not be able to make any withdrawals.
  • You can’t withdraw the remaining 75% of your money until the end of the fixed term, which is also known as ‘maturity’.
  • At maturity, your account will automatically transfer into a variable rate easy access account, unless you tell us otherwise.
  • We’ll contact you before maturity and you can find out more about the maturity process in condition 8 overleaf.
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.
  • Accounts can be withdrawn from sale at any time and without notice.

Before you apply

Proving your Identity

If you are not an existing customer of the Society, we will require identification to open the account. If you're opening your account in branch, please bring proof of ID as set out in our Proving your identity document [PDF].

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].

Terms and Conditions

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

Application forms

How to apply

Branch

Visit your local branch for further information and to open this account.

Phone

This account can be applied for over the phone. You can call us or arrange for us to call you back.

Mon-Thurs
8am - 8pm
Fri
8am - 5:30pm
Sat
9am - 12pm

Post

Return your application form and cheque to:

Customer Delivery
Skipton Building Society
The Bailey
Skipton
BD23 1DN

If you are not satisfied with our services we have an internal complaints procedure. For more information please call us on 0345 608 0783, 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

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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