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Compare Savings Accounts

Business Bond

Benefits to you

  • Competitive rate of 1.​​​45% gross/AER, fixed for 1 year
  • Low minimum investment £10,000
  • We will write to you prior to maturity with the options that are available

SUMMARY BOX

ACCOUNT NAME

Business Bond (Issue 19)

WHAT IS THE INTEREST RATE?

​​Annual Gross Interest: 1.​​45%      AER: ​1.4​5%      Net: N/A     Bonus: N/A

CAN TEACHERS BUILDING SOCIETY CHANGE THE INTEREST RATE?

The interest rate for this account is ​fixed, meaning that it cannot be changed during the fixed rate period.

WHAT WOULD THE ESTIMATED BALANCE BE AFTER 12 MONTHS BASED ON A £​1,000 DEPOSIT?

The estimated balance after ​​12 months based on a £10,000 deposit would be £10,145. This amount is based on the assumption that all terms and conditions for the account are met.

HOW DO I OPEN AND MANAGE MY ACCOUNT?

This account can be opened and managed by post​ only. The minimum opening balance for this account is £​10,000 with a maximum investment of £​500,000. Please note: a cooling off period is not available for this type of account. 

CAN I WITHDRAW MY MONEY?

Withdrawals cannot be made during the fixed rate period and therefore 'Clause 8' of the ​​Deposit Account General Terms and Conditions only applies on maturity. 

ADDITIONAL INFORMATION

  • This ​​bond matures at midnight ​​​17th ​December 20​19
  • Interest on this bond will be added annually on 17th ​​December. Alternatively, interest can be paid direct to a bank account or transferred to another account with the Society
  • The Society will write to you prior to maturity with the options that are available. You will, of course, have the opportunity to withdraw or transfer to one of the Society's other savings accounts at that time without charge
  • Available to incorporated organisations (Ltd/LLP/PLc/incorporated charities, including CIOs) 
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