Branches & agencies
30 Month Fixed Rate Bond – Issue 10
Is this account suitable for me?
This account is suitable for you if you have a lump sum of over £5,000 that you would like to save and ‘lock away’ for 30 months to guarantee a fixed rate of interest.
This account is not suitable for you if you have less than £5,000 to save or if you may need access to your money in the next 30 months. The account is also unsuitable if you are looking for an account that you can add money to regularly, as you cannot add to the bond after your initial deposit.
The interest rate is fixed at 4.30% gross*/AER** for 30 months from the date the bond is opened.
At the end of the fixed rate term, your account will automatically become an Easy Access account and the interest rate will be variable.(You can find the current rate payable on this account by visiting our Interest Rate History page – hrbs.co.uk/interest-rate-history/.
| Minimum Balance | ANNUAL Gross* | INTEREST AER** |
| £5,000 | 4.30% | 4.30% |
Interest will be paid on 1 December each year.
The interest rate is fixed and cannot be changed during the 30 month term.
Based on an initial deposit of £5,000.00, with interest added annually, the estimated balance would be £5,556.19 at the expiry of the 30 month fixed rate term.
Following maturity, after a further one year term, the estimated overall balance would be £5,692.32.
These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in the interest rate. They do not take into account your individual circumstances.
This account can be opened and managed by post or at any of our branches and agencies. Complete the application form and the declarations and consents. Take the completed documents and your deposit to one of our branches or agencies, or post them to us at the address in this document. Please make cheques payable to the account holder(s).
Please note, the minimum deposit must be credited to your account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.
The minimum deposit required to open this account is £5,000 and the maximum deposit is £300,000.
The overall maximum holding by any one member in respect of all savings accounts with the Society is £300,000.
Please note that you cannot add to your initial deposit or withdraw your money until the end of the fixed rate term.
Withdrawals are not permitted until the end of the fixed rate term.
At the end of the fixed rate term, when your account automatically becomes an Easy Access account, further deposits and withdrawals can be made without notice or penalty. The minimum balance will be £1.
Subject to the conditions set out above, money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday. Funds are available for immediate withdrawal for all other types of deposit.
We will write to you before the end of the 30 month term to advise you that your account is about to mature. Unless we have received alternative instructions from you, after 30 months, your 30 Month Fixed Rate Bond will automatically revert to an Easy Access account.
Personal Savings Allowance is the amount of interest you can earn before paying tax on it. If you are a basic taxpayer, you can earn up to £1,000.00 interest without paying tax. If you are a higher rate taxpayer, you can earn up to £500.00 interest without paying tax.
If you are a additional rate taxpayer, you cannot earn any interest without paying tax.
If you have savings income over your Personal Savings Allowance, you are responsible for making sure you are paying the correct tax directly to HM Revenue & Customs.
* Gross rate – the annual rate of interest to be paid on a savings account without any deduction being made in respect of personal Income Tax liability.
** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.
Identification Requirements
We need to confirm the identity of every customer who applies for an account with the Society. We do this to protect you against the risk of identity fraud and to comply with money laundering regulations.
We use an electronic verification system when you open a savings account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example if you are not listed on the electoral roll or you have recently moved house).
If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.
If you think you will need to provide identification, please visit hrbs.co.uk/proving-your-identity/ for details of acceptable documentation or contact us to discuss.
IF YOU ARE UNDER 18
We will need to see either your birth certificate or passport, and a document confirming your address. This could be a bank statement or utility bill and can be in the name of a parent or guardian living at the same address if not available in your name. These documents need to be originals, not photocopies, and they will be returned to you as quickly as possible.
If a nominee is registered on the account the document to confirm your address is not required.
Applying for an account
Complete the form below to request an application form which you can download and print.
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