If you have a Britannia Fixed Rate Bond that’s about to mature, this is exclusively for you.
The main differences between our fixed rate bonds are the length of their term and the interest rate you could earn.
1 Year Britannia Maturity Fixed Rate Bond - issue 279 | |
---|---|
Interest paid annually | |
0.18% Gross | |
0.18% AER | |
Interest paid monthly | |
0.15% Gross | |
0.15% AER | |
View product |
2 Year Britannia Maturity Fixed Rate Bond - issue 142 | |
---|---|
Interest paid annually | |
0.25% Gross | |
0.25% AER | |
Interest paid monthly | |
0.21% Gross | |
0.21% AER | |
View product |
3 Year Britannia Maturity Fixed Rate Bond - issue 100 | |
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Interest paid annually | |
0.31% Gross | |
0.31% AER | |
Interest paid monthly | |
0.28% Gross | |
0.28% AER | |
View product |
1 Year Britannia Maturity Fixed Rate Bond - issue 279
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.
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.
No, the interest rate is fixed. It won't change until the account matures
Initial deposit at account opening | £1,000.00 |
Balance after 1 year | £1,001.80 |
We have worked this out assuming:
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):
It can be opened as a sole or joint account.
It can also be opened on behalf of someone else, such as a child.
If you have a maturing Britannia Fixed Rate Bond, you can re-invest in this account by:
You need at least £500 to open this account.
The maximum you can deposit in it is £1,000,000.
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.
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.
This is a limited issue product and may be withdrawn without notice at any time.
Interest earned from this account will count towards any of your available personal savings allowance.
We will pay interest without deducting income tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay income tax, we recommend that you contact your local tax office or HM Revenue & Customs or visit www.gov.uk/hmrc/savingsallowance. For more information about childrens' savings, visit www.gov.uk/savings-for-children.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
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.
Business Day - A Business Day is usually Monday to Friday (excluding bank holidays).
2 Year Britannia Maturity Fixed Rate Bond - issue 142
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.
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.
No, the interest rate is fixed. It won't change until the account matures
Initial deposit at account opening | £1,000.00 |
Balance after 2 Years | £1,005.00 |
We have worked this out assuming:
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):
It can be opened as a sole or joint account.
It can also be opened on behalf of someone else, such as a child.
If you have a maturing Britannia Fixed Rate Bond, you can re-invest in this account by:
You need at least £500 to open this account.
The maximum you can deposit in it is £1,000,000.
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.
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.
This is a limited issue product and may be withdrawn without notice at any time.
Interest earned from this account will count towards any of your available personal savings allowance.
We will pay interest without deducting income tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay income tax, we recommend that you contact your local tax office or HM Revenue & Customs or visit www.gov.uk/hmrc/savingsallowance. For more information about childrens' savings, visit www.gov.uk/savings-for-children.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
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.
Business Day - A Business Day is usually Monday to Friday (excluding bank holidays).
3 Year Britannia Maturity Fixed Rate Bond - issue 100
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.
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.
No, the interest rate is fixed. It won't change until the account matures
Initial deposit at account opening | £1,000.00 |
Balance after 3 Years | £1,009.31 |
We have worked this out assuming:
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):
It can be opened as a sole or joint account.
It can also be opened on behalf of someone else, such as a child.
If you have a maturing Britannia Fixed Rate Bond, you can re-invest in this account by:
You need at least £500 to open this account.
The maximum you can deposit in it is £1,000,000.
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.
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.
This is a limited issue product and may be withdrawn without notice at any time.
Interest earned from this account will count towards any of your available personal savings allowance.
We will pay interest without deducting income tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay income tax, we recommend that you contact your local tax office or HM Revenue & Customs or visit www.gov.uk/hmrc/savingsallowance. For more information about childrens' savings, visit www.gov.uk/savings-for-children.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
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.
Business Day - A Business Day is usually Monday to Friday (excluding bank holidays).
Although our Maturity Britannia Fixed Rate Bonds are limited issue and can be withdrawn without notice, we promise to honour the rates contained within your maturity pack 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 the rate on the Maturity Britannia Fixed Rate 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 Britannia Fixed Rate Bonds we are offering to customers with maturing accounts. If you have been offered higher rates in your maturity pack, we promise to honour those rates as long as we receive your reinvestment instructions before your maturity date. If more than one month has passed since your Britannia Fixed Rate Bond matured, you cannot reinvest in a Maturity Britannia Fixed Rate Bond. However, you may be able to apply for a Britannia Fixed Rate Bond. Customers must provide their instructions to reinvest within a month of maturity if they wish to reinvest into a Maturity Britannia Fixed Rate Bond.
Approval is subject to status.
Ready to reinvest?
Please read our terms and conditions and other important documents before applying.Takes about 10 minutes
Product Specific Terms and Conditions & Summary Box (which contains interest rates)
Download Product Specific Terms and Conditions & Summary Box (which contains interest rates) PDF (985KB)Britannia Savings General Terms and Conditions with Summary of Changes
Download Britannia Savings General Terms and Conditions with Summary of Changes PDF (979KB)Managing your Britannia Savings account (including Charges)
Download Managing your Britannia Savings account (including Charges) PDF (1.42MB)How we use your personal information
Download How we use your personal information PDF (290KB)The Financial Services Compensation Scheme Information Sheet and Exclusions List
Download The Financial Services Compensation Scheme Information Sheet and Exclusions List PDF (3.4MB)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.
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.
Please read our guide to completing your form
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
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).
In one sense, it is a choice between receiving your interest on a month-by-month basis or at the end of a 12 month period. However, for monthly interest, there may also be a difference between the gross and AER percentage of a product. This is because, if that interest had been left in your savings account, the interest you accrued will also then gain interest. When that interest is paid out monthly to another account, it cannot gain interest. AER takes this into account. Gross does not.
Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
If you'd like more help & information, you can: