Tipton & Coseley increases interest rates on Fixed Rate Bond Accounts

Richard Groom
Posted on by Richard Groom

Tipton & Coseley Building Society increases interest rates on Fixed Rate Bond Accounts

The Tipton has increased the interest rate on its 1-year fixed rate bond to 1.35% gross / AER* and increased the interest rate on its 2-year fixed rate bond to 1.60% gross / AER**.

The interest rate on the 1-year bond is fixed until 30th June 2020 and the 2-year bond is fixed until 30th April 2021. Interest is calculated on a daily basis and paid on 31st December and on maturity. The minimum deposit is £1000 and the maximum £100,000 for both accounts and only one account is allowed per customer. Withdrawals aren’t allowed until the end of the fixed term and no further deposits during the term are permitted.

The latest issue of its fixed rate bonds follows the recent launch of three new savings accounts from the Tipton. These include a 1-year fixed rate regular saver at 2.00% gross / AER*** and two Community Saver Accounts that pay the equivalent of 0.10% of the average monthly balance of these accounts to the Tipton & Coseley Charitable Foundation on 31st December each year.

 *1.35% gross/AER is fixed until 30th June 2020 from date of opening. Gross means the contractual rate of interest payable. AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rate correct as at 28th February 2019.

 **1.60% gross/AER is fixed until 30th April 2021 from date of opening. Gross means the contractual rate of interest payable. AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rate correct as at 28th February 2019.

 ***2.00% gross/AER is fixed until 31st March 2020 from date of opening. Gross means the contractual rate of interest payable. AER stands for annual equivalent rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Rate correct as at 28th February 2019.

Learn more about our 1 Year Fixed Rate Bond 

Learn more about our 2 Year Fixed Rate Bond