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Savings & Investments
6 Month Fixed Rate Charity Bond (Issue 5)
The 6 Month Fixed Rate Charity Bond (Issue 5) is available to unincorporated charities, incorporated charities and registered friendly charities.
The charity will earn a competitive rate of interest, fixed until maturity and can invest any amount between £10,000 and £1,000,000.
Please note: this fixed rate account is a limited issue and may be withdrawn without notice. Additional funds may be invested whilst the issue remains open for further investment.
| Summary Box Key Product Information for our Savings Account(s) |
|
|---|---|
| Account Name | 6 Month Fixed Rate Charity Bond (Issue 5) |
| Interest Rates (AERs) | 1.75% Gross§ p.a. 1.76% AER† (fixed) |
| Tax Status | Under the Income and Corporation Taxes Act 1988, charities or registered friendly societies, which are exempt from tax, are entitled to receive interest gross. Please complete the appropriate HM Revenue and Customs form, which is available from your local branch, by calling our Customer Helpline on 0113 225 7777 or visit the HM Revenue and Customs website for more information. The tax treatment depends on the individual circumstances of each customer and may be subject to change in the future. |
| Conditions for bonus payment | There is no bonus available on this account. |
| Withdrawal arrangements | Withdrawals of up to 25% can be made, without notice or loss of interest prior to maturity (30 June 2012), subject to the minimum operating balance of £10,000 being maintained. Closure of the account or further withdrawals are not permitted until the day after maturity (1 July 2012). |
| Access | Account can be opened and operated through any of our branches. |
Rates correct as at 16 December 2011.
Other Product Features:
Minimum and maximum investment and operating balance:
The minimum investment and operating balance is £10,000 and the maximum investment and operating balance is £1,000,000.
When is interest paid?
Interest is paid on maturity (30 June 2012).
How is interest paid?
Interest can either be credited to the account or transferred either to another building society/bank account or to another account held with the Society providing the account is held in the name of, and on behalf of, the same charity.
What happens to my investment at maturity?
The 6 Month Fixed Rate Charity Bond (Issue 5) will mature at close of business on 30 June 2012. On the day after maturity (1 July 2012), the Society will transfer your investment (including interest) to a maturity account. Full details including terms and conditions will be provided before maturity.
