2 Year Fixed Rate Bond - Summary Box
|Account Name||2 Year Fixed Rate Bond (31.12.2023)|
|What is the interest rate?||
0.50% Gross* /AER**
Interest is added to the account annually on 31 December or can be paid into another Ipswich Building Society account or direct to your bank account.
|Can the Society change the interest rate?||
The interest rate is fixed until the maturity date on 31 December 2023.
|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 into this account, after 12 months you would have £1,005.00.
|How do I open and manage my account?||
To open this account:
To open an account you must complete the appropriate application form. You can visit any of our branches with your opening investment of cash or cheque or apply by post by sending the application form with an opening cheque. You will be asked to provide proof of identity. This is to reduce the risk of fraud and is in line with anti-money laundering legislation. Acceptable forms of identification are detailed in our ‘Verifying your identity’ leaflet. Alternatively our staff will give you full details.
How do I manage my account:
|Can I withdraw money?||
• No, you cannot withdraw any money until the end of the fixed interest rate term, which ends on the 31 December 2023.
Your savings will be transferred to another fixed term account with the closest access and duration to your existing product, so you can continue your investment; however we will also detail your options including how to transfer to an easy access account or how to close your account.
This represents the Terms and Conditions for 2 Year Fixed Rate Bond (31.12.2023) and should be read in conjunction with our General Investment Terms & Conditions and our Customer Information booklet.
Ipswich Building Society participates in the Financial Services Compensation Scheme. For full details please ask our staff.
*Gross - The rate paid without income tax deducted
**AER (Annual Equivalent Rate) - A notional rate which illustrates what the gross rate would be if the interest was paid and compounded once per year.View previous rates
|Balance||Fixed Previous AER||Fixed Previous Gross|
|No Previous Rates|
I accept the Terms and Conditions
Eligibility: I am an existing member or a new applicant residing in the following postcode areas; IP, NR, CO, CM, CB, PE
I declare that I will print out, read and retain the Financial Services Compensation Scheme (FSCS) Information Sheet which is attached to the application form
Please note: when you open an account with us, under regulations for prevention and detection of financial crime, we need to verify your identity. We use an electronic verification system to form part of this check. In addition to this we require proof of your identity in order to open your account. To find out which forms of identification are suitable, click here or ask for a copy of our ‘Verifying your identity’ leaflet. Please note that for postal applications, certified copies of your identification will be required.
|Investment Application Form and FSCS Information Sheet
|2 Year Fixed Rate Bond - terms and conditions|