Fixed Rate Bond (fixed until 30.04.2027)

Home
Savings
Fixed Rate Bonds
Fixed Rate Bond (fixed until 30.04.2027)

Key Features

Fixed Rate Bond (fixed until 30.04.2027)

4.20% Gross pa/AER

Opens with £1,000

Our Fixed Rate Bond (fixed until 30.04.2027) has a fixed interest rate until 30.04.2027. After this date your account reverts to the Chorleian Instant Access account with a variable rate of interest.

How is interest calculated?

The interest rate is fixed. Interest is calculated on a daily basis and paid annually on 30th April each year and upon maturity. The annual interest will be paid directly into your nominated UK Bank account, building society account or a nominated account with the Society (excluding this account). Please refer to section 7 of the Savings Account General Terms and Conditions for further information on how we calculate interest.

Where interest is paid to an external UK bank or building society account the interest will be available within 3 working days.

Please refer to section 7 of the Savings Account General Terms and Conditions for details on how we calculate interest.

Details of our full range of products and current interest rates are available on request at our branches, by telephone 01257 235003 or from our website www.chorleybs.co.uk/savings

Interest Rate Definitions 

  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account once each year.
  • Gross – The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

Can Chorley Building Society change the interest rate? 

This interest rate is fixed until 30.04.2027 meaning we cannot change the interest rate during this fixed term period. After this date your account reverts to the Chorleian Instant Access account with a variable rate of interest.

The terms of the Chorleian Instant Access account are available in branch or at www.chorleybs.co.uk/savings.

What would the estimated balance be after 12 months

based on a £1,000 initial deposit? 

Based on the current rate of interest, if you opened this account on the 1st February 2024 and deposited £1,000, your estimated balance, on 30.04.2027 would be £1,094.13.

This projection is for illustrative purposes only and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in interest rate within the product period.

How do I open and manage my account? 

This product can be opened and managed in branch, by post or online via Chorley Online. Please refer to the Society’s Savings Accounts General Terms and Conditions and Chorley Online Terms and Conditions. 


Eligibility Criteria
• Available to eligible UK residents aged 18 years old or above. 
• Only one Fixed Rate Bond (fixed until 30.04.2027) is permitted per customer.
• One initial deposit is permitted. No further deposits allowed.
• Initial deposits must be received within 15 days of account opening. If no funds are received the account will be closed.


To open an account, you can apply in branch, by post or online and let us have;
• a fully completed Application Form
• at least the minimum deposit of £1,000
• proof of your identity, address and residency
• the maximum balance is £500,000 and the overall maximum holding by any one person in respect of all savings accounts with the Society is £500,000
• transfers in from other Chorley Building Society Accounts are permitted. Transfers in from Notice Accounts conditions apply.


This is a limited issue and the Society reserves the right to withdraw this product without notice at any time.

Can I withdraw money from this account? 

  • No withdrawals or account closures are allowed within the fixed rate term, except in the event of the death of the account holder.
  • On maturity your balance, plus interest, will be automatically transferred into our Members Maturity Easy Access (2 Withdrawals) account if you have not opted to reinvest the funds into a new Fixed Rate Bond. We
  • will contact you at least 14 days prior to the end of the fixed rate term to advise you of the options available at that time.
  • The fixed term will end on the 30th April 2027, with the account balance available on the next working day. ‘Working day’ means a day other than a Saturday, Sunday, or Bank Holiday.  
  • Withdrawal conditions apply; please refer to section 9 of the Savings Account General Terms and Conditions and section 7 of the Chorley Online Terms and Conditions for further details. 

Additional Information

Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the
future. For more information on Tax Allowances please call HMRC on 0300 200 3300 or visit
https://www.gov.uk/apply-tax-free-interest-on-savings

Financial Services Compensation Scheme

The Society is a member of the Financial Services Compensation Scheme. Your savings in this product may be covered, subject to eligibility. For more information contact the Financial Services Compensation Scheme, Telephone: 0800 678 1100 or 020 7741 4100, Email: ICT@fscs.org.uk, website: http://www.FSCS.org.uk

Contact us - 01257 235003 or https://www.chorleybs.co.uk/contact-us for further information.

Application Checklist

Must be a UK resident

We cannot offer accounts to people outside of the UK

Your Chorley account number

If you are already a member, so we can match you to your account

National Insurance number

This can be found on your payslips, P60 or tax return

Your bank or building society account details

You may need a new account to send withdrawals and interest to

Be at least 18 years old

This account is available to customers who are over the age of 18

Have read the product information and the following documents

Please ensure that you have read and understood the terms and conditions of the product you are applying for. These are detailed above, in the summary box. By proceeding with an application, you are confirming that you have read and understood the product specific terms and conditions. Please also ensure that you read the below documents before you apply. You can print or save these documents for your records.

 

Please speak to a member of our branch team if you have any queries.

Useful Links

Savings Accounts Terms and Conditions
Tariff of Fees and Charges
FSCS Information Sheet and Exclusions List
Identification Criteria (If we need more information from you)

Ways to apply

Online

Before you apply, please read the summary and the application checklist above.

By Post

Before you apply, please make sure that you have read and understood the account summary and application checklist above. You can download the application form online, print and post back to us.

In Branch

Before you visit, please ensure you have valid identification and necessary documents and please read the summary and the application checklist above.