Saffron Building Society
Phone: +44 0800 072 1100
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Name
One Year Fixed Term, Tracker Corporate Bond
Category
Description
Available to existing Saffron customers, our One Year Fixed Term, Tracker Corporate Bond is a high interest rate bond that tracks up to 1.00% above the Bank of England base rate for one year.
Interest Rate
Annual Income 1.50% AER
Monthly Income 1.49%/1.50% AER
Monthly Income 1.49%/1.50% AER
Details
This bond is available to limited companies, charities, clubs, associations and solicitors.
You can deposit anything between £5,000 and £2,000,000.
Open through post, or one of our branches.
Further funds may not be added to the bond once opened, but we can open another bond for you (subject to availability).
If you require access to your funds before maturity, the full balance can be withdrawn but you will incur an interest penalty equivalent to 30 days' interest (to be deducted from the capital if necessary). Partial withdrawals are not permitted and closure of the account will be required.
Your interest will be paid on maturity or, for the monthly income option, you will receive your interest on the last day of each calendar month. The interest will be transferred to the Company's nominated bank account.
Shortly before your bond matures, we'll get in touch to ask what you would like to do with your funds.
If we do not receive any instructions prior to maturity your account will automatically switch to a variable rate Loyalty Corporate Account.
This Bond tracks up to 1.00% above the Bank of England base rate.
Following a change in the Bank of England base rate, which is currently 0.5%, our tracker rate will change within 28 days.
If your account falls below the minimum balance amount, you will earn a fixed rate of 0.05% gross p.a./AER* whilst the account is below the minimum balance.
You can deposit anything between £5,000 and £2,000,000.
Open through post, or one of our branches.
Further funds may not be added to the bond once opened, but we can open another bond for you (subject to availability).
If you require access to your funds before maturity, the full balance can be withdrawn but you will incur an interest penalty equivalent to 30 days' interest (to be deducted from the capital if necessary). Partial withdrawals are not permitted and closure of the account will be required.
Your interest will be paid on maturity or, for the monthly income option, you will receive your interest on the last day of each calendar month. The interest will be transferred to the Company's nominated bank account.
Shortly before your bond matures, we'll get in touch to ask what you would like to do with your funds.
If we do not receive any instructions prior to maturity your account will automatically switch to a variable rate Loyalty Corporate Account.
This Bond tracks up to 1.00% above the Bank of England base rate.
Following a change in the Bank of England base rate, which is currently 0.5%, our tracker rate will change within 28 days.
If your account falls below the minimum balance amount, you will earn a fixed rate of 0.05% gross p.a./AER* whilst the account is below the minimum balance.
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