Branches & agencies
Fixed Rate Savings Bond until 15 February 2029
Guarantee a fixed rate until 15 February 2029
This Fixed Rate savings bond until 15 February 2029 is a savings account with a 4.97% Gross/AER. Save from £1,000 up to £500,000 and guarantee a fixed rate of interest when you lock away your savings in our Fixed Rate Savings Bond.
| Rate | 4.97% Gross /AER |
|---|---|
| Access | No Not until the end of term |
| Interest | Annually |
| Minimum Investment | £1,000 |
Savings are protected by FSCS
Independently reviewed by Smart money people
Is this Fixed Rate Savings Bond until 15 February 2029 right for you?
This Fixed Rate Savings Bond until 15 February 2029 is good for you if
- You want a fixed interest rate
- You have a lump sum of over £1,000
- You don’t need to withdraw money until 16 February 2029
Consider something else if
- You might need to withdraw money before 16 February 2029
- You don’t have a deposit of £1,000
- You want to make regular contributions
Account name: Fixed Rate Savings Bond until 15 February 2029
What is the interest rate?
The interest rate is fixed at 4.97% gross*/AER** until 15 February 2029.
At the end of the fixed rate term, your account will automatically become an Easy Access account or the nearest equivalent available at that time. You can find the current rate payable on this account by visiting our Interest Rate History page (hrbs.co.uk/interest-rate-history/).
| Interest Rate | Minimum Balance | Gross* | AER** |
|---|---|---|---|
| Annual | £1,000 | 4.97% | 4.97% |
Interest will be paid on 1 December each year.
Can Hinckley & Rugby Building Society change the interest rate?
The interest rate is fixed and cannot be changed during the fixed rate term.
What would the estimated balance be at the end of the term based on a £1,000 deposit?
Based on a deposit of £1,000.00, with interest added annually, the estimated balance at the end of the term would be £1,115.56
These figures are provided for illustrative purposes only and assume that the account is opened on 15 November 2026. They do not take into account your individual circumstances.
How do I open and manage my account?
This account can be opened by post or at any of our branches and agencies. Simply complete the application form and take it with your opening deposit*, or post them to us at the address in this brochure. Please make cheques payable to the account holder(s).
*Your opening deposit must be paid in within 5 business days of the account being opened, or you will need to start the application process again. If you wish to pay this by electronic transfer, use the details that we will send you when the account is open.
Important: There is no passbook for this account. You will receive a certificate when the account is opened.
The minimum deposit required to open this account is £1,000and the maximum is £500,000. After making your opening deposit, you cannot add more money to this account.
The total maximum holding by any one member across all savings accounts held with the Society is £500,000.
You can manage your account at any of our branches or agencies, by phone, or by post. You can also view your account online: on our app or by using H&R Online on our website (after registering for the service).
Can I withdraw money?
No, you cannot make any withdrawals until after 15 February 2029, when the fixed-rate term ends.
At the end of the fixed-rate term, your account will automatically become an Easy Access account. Then, further deposits and withdrawals can be made without notice or penalty.
Additional information
We will write to you before the end of the term to advise you that your account is about to mature. Unless we receive alternative instructions from you, on 16 February 2029, your fixed rate bond will automatically revert to an Easy Access account.
* 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.
Important Documents
Fixed Rate Savings Bond until 15 February 2029 FAQs
What’s the difference between this Fixed Rate Savings Bond and a Fixed Rate Cash ISA?
While both accounts provide a guaranteed interest rate, the main difference is their tax treatment and deposit limits. This bond allows you to save much larger deposits of up to £500,000 but the interest is subject to your Personal Savings Allowance. The Fixed Rate Cash ISA limits your deposit to £20,000 but ensures it remains tax-free.
Is the interest on a Fixed Rate Bond taxable?
Interest is paid gross, which means tax is not automatically deducted. The Personal Savings Allowance means most people no longer pay tax on their savings income.
Can I make regular contributions to this Fixed Rate Bond?
No, once the deposit is made, you can no longer contribute to the savings bond.
Identification Requirements
Identification Requirements for this Fixed Rate Bond
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.
Protecting your money
Your eligible deposits with Hinckley & Rugby Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any total deposits you hold above the limit are unlikely to be covered.
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