Britannia Maturity Fixed Rate Bonds

If you have a Britannia Fixed Rate account that’s about to mature, this is exclusively for you.

Features

  • You're guaranteed the rate printed in the letter we sent you, provided we receive your completed maturity form before your maturity date.
  • You can deposit between £500 - £1,000,000 with this bond.
  • Earn a fixed rate of interest throughout your term.
  • You can't make any withdrawals or deposits to this account during the product term.
  • Choose whether you want to receive your interest payments monthly or annually.

Monthly interest can be paid into a Britannia/Co‑operative Bank account, or any other of your choice.

Annual interest will be deposited directly into your bond or you also have the choice for your interest to be paid into another account.

  • Available as a joint account.
  • When your account matures, your money will be transferred to a Matured Bond Instant Access Account.
  • Comes with a passbook.

Compare Britannia Fixed Rate Bond interest rates

The main differences between our fixed rate bonds are the length of their term and the interest rate you could earn.

Annual gross/AER Monthly gross Monthly AER
1 Year Britannia Maturity Fixed Rate Bond - issue 279 0.18% 0.15% 0.15%
2 Year Britannia Maturity Fixed Rate Bond - issue 142 0.25% 0.21% 0.21%
3 Year Britannia Maturity Fixed Rate Bond - issue 100 0.31% 0.28% 0.28%

Summary Box for Britannia Maturity Fixed Rate Bond

Account name

Britannia Maturity Fixed Rate Bond

What is the interest rate?

Annual gross/AER Monthly gross Monthly AER
1 Year Britannia Maturity Fixed Rate Bond - issue 279 0.18% 0.15% 0.15%
2 Year Britannia Maturity Fixed Rate Bond - issue 142 0.25% 0.21% 0.21%
3 Year Britannia Maturity Fixed Rate Bond - issue 100 0.31% 0.28% 0.28%

Interest is calculated daily. It can either be paid to you annually or monthly. Once you've chosen this you can't change your mind during the term.

If you're paid your interest annually you'll receive it on the first Business Day after each anniversary.

If you're paid your interest monthly you'll receive it on the first Business Day of the following month. So, for example, you'd get January's interest on the first Business Day in February.

Where can my interest be paid to?

Annual interest can either be paid into this account or another account of your choice (either with us or another provider).

Monthly interest will be paid to another account of your choice (either with us or another provider) but your final month's payment will be added to this account.

Can Britannia change the interest rate?

No. the interest rate is fixed. It won't change until the account matures at the end of your term.

What would the estimated balance be at the end of the fixed term, based on a £1,000 deposit?

Balance at end of fixed term
1 Year Britannia Maturity Fixed Rate Bond - issue 279 £1,001.80
2 Year Britannia Maturity Fixed Rate Bond - issue 142 £1,005.00
3 Year Britannia Maturity Fixed Rate Bond - issue 100 £1,009.31

We have worked this out assuming:

  • You've chosen to receive your interest annually.
  • You've chosen to add your interest to the account.

How do I open and manage my account?

Can I apply for this account?

To apply, you must be a UK resident and have held one of the following accounts, which has matured within the last one month period (i.e. if you matured on 1 January, you would have until 1 February):

  • A Britannia Fixed Rate Bond
  • A Britannia Fixed Rate Cash ISA
  • Another Britannia fixed term savings account.
  • It can be opened as a sole or joint account.

It can also be opened on behalf of someone else, such as a child.

How do I apply for this account?

If you have a maturing Britannia Fixed Rate Bond, you can re-invest in this account by:

  • Post - By completing and returning the reinvestment form sent with your pre-maturity pack.
  • In branch - by speaking to one of our advisors.
  • Online - Depending upon your circumstances, you may be able to re-invest into this account online.

If you have a maturing Britannia Fixed Rate Cash ISA or other Britannia fixed term savings account, you can reinvest in this account by visiting a branch.

Is there a minimum and a maximum balance?

You need at least £500 to open this account.

The maximum you can deposit in it is £1,000,000.

How do I make deposits into this account?

You can pay into this account by re-investing funds from a maturing Britannia Fixed Term account when it reaches the end of its fixed term (i.e. on maturity). If you would like to add additional money to the account at this time (or up to 14 days after the account has been opened), you can do so by cash, cheque or transfer from another account held with us or another provider. No further deposits are allowed after the 14 days from account opening.

How do I manage this account and get in contact?

You can contact us, and manage your account:

Can I withdraw money?

No - You can't make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds.

At the end of the fixed term, your account matures and your money will be put into a variable rate instant access account - unless you provide us with other maturity instructions.

We'll send you a letter when your fixed term is coming to an end. It'll remind you of your maturity date and let you know what options are available to you (such as re-investing or withdrawing).

On maturity, you can access your money by giving us instructions in branch or by post.

Additional information

If you are or have previously been made bankrupt, you can still apply.

This is a limited issue product and may be withdrawn without notice at any time.

Interest earned from this account will count towards your Personal Savings Allowance. You may need to pay tax to HM Revenue & Customs if the total interest you earn is greater than your Personal Savings Allowance. Visit the Government’s website for more information on this and interest on savings for children.

To reinvest, you need to be:

  • 16 or over.
  • A UK resident.
  • An existing Britannia Fixed Rate Bond customer who is looking to reinvest their funds after maturity.

Approval is based on an assessment of your personal circumstances.

Ready to invest?

Please read these important documents↓ and save them for future reference.

Other ways to reinvest

By post

We’ll write to you a few weeks before your account is due to mature and enclose a maturity options form. Simply complete the form, then sign and return it to us in the envelope provided, leaving enough time for it to reach us before your maturity date.

In branch

We'd recommend booking an appointment by calling your local Co‑operative Bank branch during normal working hours. Please bring along some identification, with a signature, when you visit us in-branch.

Need help with your application?

Please read our guide to completing your form

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if it were paid and added to your account each year.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Business day is usually Monday to Friday excluding bank holidays.

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.

FSCS logo

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: The Co-operative Bank, Britannia and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please click here for further information or visit www.fscs.org.uk

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