Account name
Fixed Rate Bond until 31.05.22
When you're ready to open an account you'll need to download and complete an application form.
What is the interest rate?
The fixed rate below applies from 27 February 2021:
£1,000 plus - 0.50% gross / AER fixed until 31 May 2022.
Interest is calculated daily and paid annually on 31 December, and again on maturity.
When you're ready to open an account you'll need to download and complete an application form.
Can Tipton & Coseley Building Society change the interest rate?
The interest rate on your account is fixed and won't change before the maturity date.
When you're ready to open an account you'll need to download and complete an application form.
What would the estimated balance be at the end of the fixed rate term based on a £1,000 deposit?
The balance at the end of the fixed rate term based on a deposit of £1,000 with an interest rate of 0.50% gross / AER (fixed) would be £1,006.30.
This estimation is an illustration only and assumes:
- the account is opened on 27 February 2021;
- there are no additional deposits or withdrawals made;
- interest is paid back into the account;
- the interest rate is fixed; and
- interest is paid gross on 31 December and again on maturity.
When you're ready to open an account you'll need to download and complete an application form.
How do I open and manage my account?
You must live in a B, DY, WS or WV postcode to open this account.
You can open an account if you are aged 16 or over. Only one account can be opened per customer. Joint accounts can be opened.
A minimum opening deposit of £1,000 is required and the maximum deposit amount is £250,000 per customer. After your account is opened, no transactions can be made until maturity.
For opening deposits made by electronic payments, you must send your initial deposit within 10 working days, or the account will be automatically closed.
Accounts can be opened at any of our branches, there’s no need for an appointment. If you can’t get to our branches then you can open your account by post, simply send us your application form and a cheque payable to yourself.
You can view your balance and recent transactions on the Tipton App, available in the Google Play Store and Apple Store.
When you're ready to open an account you'll need to download and complete an application form.
Can I withdraw money?
No withdrawals are allowed until the end of the fixed rate term.
We'll contact you at least 14 days before your fixed rate period ends to give you details of your maturity options. If we don't hear from you before maturity, we'll automatically rollover your account to another account from our savings range which may include a new Fixed Rate Savings account. When we write to you we'll give you details of the account we intend to automatically rollover your maturity balance to.
If you do not wish to rollover your account once it reaches its maturity date, you are able to withdraw the funds within 14 days.
When you're ready to open an account you'll need to download and complete an application form.
Additional information
Interest is paid gross (without tax deducted).
Interest rates explained:
- 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.
When you're ready to open an account you'll need to download and complete an application form.
