Fixed Rate / Fixed Term Bonds
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | Fixed Term Savings Bonds | |||
| Interest rates (AERs) | Gross | Net | AER | |
| FIXED RATE/FIXED TERM FOR 1 YEAR | ||||
|
Annual income option |
||||
| £1,000+ | 2.50% | 2.00% | 2.50% | |
| Monthly income option | ||||
| £1000+ | 2.47% | 1.98% | 2.50% | |
|
FIXED RATE/FIXED TERM FOR 2 YEARS Annual income option |
||||
| £1000+ | 3.00% | 2.40% | 3.00% | |
| Monthly income option | ||||
| £1000+ | 2.96% | 2.37% | 3.00% | |
|
FIXED RATE/FIXED TERM FOR 3 YEARS Annual income option |
||||
| £1000+ | 3.50% | 2.80% | 3.50% | |
| Monthly income option | ||||
| £1000+ | 3.45% | 2.76% | 3.50% | |
| The Bonds are a fixed term savings account for either one, two or three years from date account is opened. | ||||
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements | You may close or make withdrawals from the Bonds subject to 120 days loss of interest on the amount withdrawn and subject to standard branch and agency withdrawal limits. This penalty will not be applied in the event of the death of an account holder. | |||
| Access | Via branch or post | |||
The above rates are applicable from 24 May 2010.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Product features
- One-year OR Two-year OR Three-year Fixed Rate, Fixed Term Bond
- Early closure/withdrawal from the Bonds loss of 120 days interest
- Save from £1,000 to £250,000 (please make cheques payable to yourself not Leek United)
- Fixed interest rate for the specified term
- Choice of annual or monthly interest
- No additional deposits allowed
Terms and conditions relating specifically to this account must be read in conjunction with our Statement of Practice Investors leaflet, which details generic terms and conditions relating to all of our savings accounts.
Download an application form PDF - please complete both sides of the form and return
Please make cheques payable to yourself not Leek United
Details of the Financial Services Compensation Scheme can be found in the 'Other Information' section on the left of this page.
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