Furness Building Society offers a range of fixed rate bonds that can help you grow your savings over time. These savings accounts can range from 1 to 5 years and can be managed in branch or online.
With Bonds, 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 for the term of the bond, as you won’t be able to make a withdrawal from the bond.
Bonds are suited to savers who have a lump sum of money to invest over time and want the security of a fixed return on their savings.
Fixed Rate Bonds are limited and can be withdrawn at any time – so click “Apply Now” and secure the rate today
One Year Fixed Rate eSavings Bond – Issue 24
|What is the interest rate?||
The interest rate is fixed at 1.10% Gross/AER.
Interest is calculated daily and paid on maturity. Annual interest can be added to the Bond account or 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 after 12 months based on a £1,000 deposit?||
Based on the fixed rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,011.00.
This figure is for illustration purposes only and is based on annual interest being added to the account.
|How do I open and manage my account||
Opening and managing your account
The Bond is available to open online.
The Bond is not available to deposit account holders or a saver under the age of 16.
Savings limits and additional investments
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.
Managing your account
Once the eSavings Bond is opened online the payment 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.
|Can I withdraw money?||
No withdrawals or closure are allowed within the one year term.
This one year eSavings Bond is a share account with Furness Building Society and you will become a member of the Society on opening the account. The Bondholder agrees to be bound by the rules of the Society and the terms and conditions in addition to the Furness eSavings Online General Terms and Conditions. You must read the ‘Furness eSavings Online General Terms and Conditions’ to ensure you fully understand how your account works and your responsibilities as an account holder.
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 Terms and Conditions.
The Bond will mature one year from date of opening.
We will contact you within 14 days of the maturity date of your Bond to explain the options available to you on maturity and we will require your consent to re-invest in another product at that time. In the event that we do not receive your instructions your maturing funds will be transferred to an online access account.
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.