Furness Building Society offers a range of fixed rate bonds that can help you grow your savings over time. This one year account is our bond with the shortest term that can be opened and managed in branch.
As with any bond, the rate of interest on your savings is guaranteed for a fixed period of time. You’ll need to make sure that you don’t need access to your savings as you won’t be able to make a withdrawal from the bond within that timeframe.
Fixed Rate Bonds are limited and can be withdrawn at any time – so pop into your nearest branch and secure the rate today
1.00% Fixed Rate Bond – fixed until 30 November 2023
|What is the interest rate?||
The interest rate is fixed at 1.00% Gross/AER.
Interest is calculated daily and will be added to the account on maturity. Alternatively you can choose to have the interest paid to a nominated bank account or other suitable Furness account.
|Can Furness Building Society change the interest rate?||
As the interest rate is fixed, the rate will not change for the term of the account.
|What would the estimated balance be at the end of the fixed rate period based on a £1,000 deposit?||
Based on the fixed rate of interest, if you deposited £1,000 in this account on 1 November 2020, at the end of the term the balance would be £1,030.82.
This figure is for illustration purposes only and is based on interest being added to the account at the end of the term.
|How do I open and manage my account||
Opening your account
To request an application pack please call us on 0800 834 312 or visit our website at www.furnessbs.co.uk to download an application form. You will need to provide some identification when you open your account and details of our requirements can be obtained by contacting us or on our website. If you are already a Furness customer, in most cases this will not be necessary. When you open your account you will receive a passbook.
This bond is available to savers over the age of 18.
Savings limits and additional deposits
The minimum opening deposit in the Bond is £1,000 and the maximum is £250,000 (£500,000 joint). Additional deposits in the Bond after the starting date will not be permitted.
Payments into the account can be made by electronic payment, or by cash or cheque at your local branch or agency. You may also send a cheque through the post. Please ensure that cheques are made payable to yourself and quote the account number on the payee line.
Transfers in from other Furness Building Society fixed rate products will not be permitted.
Managing your account
Transfers of name or additional account holders can be arranged on request. To manage your account, visit us at a branch or agency or by sending us your written instructions.
|Can I withdraw money?||
No withdrawals or closures are allowed within the term
This bond is a share account with Furness Building Society.
The Bondholder agrees to be bound by the rules of the Society (copies available on request) and the terms and conditions in addition to the General Savings Terms and Conditions. The following information must be read in conjunction with the separate General Savings Terms and Conditions and Other Important Information booklet previously supplied to you. It contains important information to help you fully understand how your account works and your responsibilities as an account holder.
A copy is available on request from any of our branches or agencies or by calling 0800 834312. Alternatively you can visit our website www.furnessbs.co.uk.
This product is a limited offer and can be withdrawn at any time and without prior notice.
You have 14 days after the contract is entered into to notify us in writing at our Head Office or one of our branches or agencies if you want to change your mind. If you notify us within this time, we will help you switch to another of our accounts or give you back your money (subject to any cheque clearance periods) together with any interest it has earned. If you do not exercise your right to change your mind, you will be bound by these product terms and conditions.
We will contact you 14 days before your bond matures to tell you about other savings accounts available to you. If we don’t hear from you, at the end of the term, your savings will automatically transfer into an access account which is likely to be at a lower rate.
The Bond can be closed on the death of the investor with no notice or charge.
Your call may be monitored or recorded to maintain a quality service.
Please confirm you have read the important information below. Only when you have read the information and fully understand how the account works should you click to download the application form. We recommend that you print a copy of the documents for your records and keep them in a safe place.