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Britannia Maturity Fixed Rate Bonds

The Britannia Maturity Fixed Rate Bond is only available to customers who have an existing Britannia Fixed Rate Bond and would like to reinvest their funds at maturity.

We will write to you a few weeks before your Britannia Fixed Rate Bond account matures. In this letter we will detail the interest rates offered to you if you reinvest.

Our promise to you

Although our Maturity Fixed Rate Bonds are limited issue and can be withdrawn without notice, we promise to honour the rates contained with your maturity letter as long as we receive your reinvestment instructions before your maturity date; on or after this date you may be offered a lower rate. However, if we increase rates on the bond you have chosen between your letter being sent and your maturity date you will automatically receive the higher rate.

These are the details of the current Maturity Fixed Rate Bonds we are offering to customers with maturing accounts. If you have been offered higher rates in your maturity letter, we promise to honour those rates as long as we receive your reinvestment instructions before your maturity date.

Personal Savings Allowance

Following the introduction of the new personal savings allowance we will pay you gross interest on your savings. For more information about this and to find out how you may need to pay tax on the interest please visit www.gov.uk/hmrc/savingsallowance

1 Year Maturity Fixed Rate Bond

Britannia logo

Britannia 1 Year Maturity Fixed Rate Bond
  Minimum Balance Gross AER%
Annual Interest £500.00 1.00 1.00
Monthly Interest £500.00 0.96 0.97
The above fixed rates apply to the bond launched on 15/09/2016 and are fixed throughout the 1 year term.

 

Key Product Information
Account name 1 Year Maturity Fixed Rate Bond - Issue 251
Interest rates (AERs) The minimum balance for this account is £500.00. The interest rate is fixed for the term of the Bond.
Tax status Interest will be paid without the deduction of tax
Condition for bonus payment No bonus payments exist for this Account
Withdrawal arrangements It is not possible to make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds
Access Branch or by post
£500.00

2 Year Maturity Fixed Rate Bond

Britannia logo

Britannia 2 Year Maturity Fixed Rate Bond
  Minimum Balance Gross AER%
Annual Interest £500.00 1.09 1.09
Monthly Interest £500.00 1.06 1.06
The above fixed rates apply to the bond launched on 15/09/2016 and are fixed throughout the 2 year term.

 

 

Key Product Information
Account name 2 Year Maturity Fixed Rate Bond - Issue 112
Interest rates (AERs) The minimum balance for this account is £500.00. The interest rate is fixed for the term of the Bond.
Tax status Interest will be paid without the deduction of tax
Condition for bonus payment No bonus payments exist for this Account
Withdrawal arrangements It is not possible to make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds
Access Branch or by post

3 Year Maturity Fixed Rate Bond

Britannia logo

Britannia 3 Year Maturity Fixed Rate Bond
  Minimum Balance Gross AER%
Annual Interest £500.00 1.25 1.25
Monthly Interest £500.00 1.21 1.22
The above fixed rates apply to the bond launched on 15/09/2016 and are fixed throughout the 3 year term.

 

 

Key Product Information
Account name 3 Year Maturity Fixed Rate Bond - Issue 72
Interest rates (AERs) The minimum balance for this account is £500.00. The interest rate is fixed for the term of the Bond.
Tax status Interest will be paid without the deduction of tax
Condition for bonus payment No bonus payments exist for this Account
Withdrawal arrangements It is not possible to make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds
Access Branch or by post

Features and benefits

  • A choice of 1, 2 or 3 year products to suit your needs.
  • Attractive fixed interest rate.
  • Choose annual or monthly interest. Monthly interest will be paid into another Britannia or bank account of your choice. For annual interest, you have the option to add this to your account.
  • Choose to save between a minimum of £500.00 and a maximum of £1,000,000.00
  • When your account matures, your money is transferred to a Matured Bond Instant Access Account
  • Can be opened as a joint account
  • It is not possible to add to or withdraw from this account during the term of the product
  • Passbook based account
  • Interest earned from this account will contribute to your personal savings allowance

If you want to use your ISA allowance take a look at our Cash ISAs for Maturing Customers.

Ways to reinvest

By post
We will write to you a few weeks before your account is due to mature enclosing a maturity options form. Simply complete the maturity options form, sign and return it to us in the envelope provided in enough time to reach us before your maturity date. 

In branch
We'd recommend booking an appointment by calling your local branch during normal working hours. To ensure we're able to deal with your reinvestment, please bring along some identification with a signature.

Definitions

Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

AER - Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Tax Free - The contractual rate of interest payable where interest is exempt from income tax.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on the customer’s individual financial circumstances.

The Co-operative Bank reserves the right to decline to accept any application and/or deposit.

Remember you can subscribe to a Co-operative Bank/ Britannia Cash ISA as long as you have not subscribed to another cash ISA with another provider in the current tax year.

smile, The Co‑operative Bank and Britannia are trading names of The Co‑operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS). Find out more