What you need to know about Fixed Rate Bonds
Choosing your Fixed Rate Bond:
You can choose from the following:
- One Year Fixed Rate Bond
- Two Year Fixed Rate Bond
- Three Year Fixed Rate Bond
For more on our bonds - including how to apply - please visit our Fixed Rate Bond page.
Making regular payments into my Britannia Fixed Rate Bond account:
You can open an account with a minimum of £1,000 and a maximum of £1,000,000, but you can’t make further deposits or withdrawals until your term ends. If you’d prefer an account that lets you make regular payments, please have a look at our instant access products.
Having interest paid into my Britannia Fixed Rate Bond account:
You’ll get the option to receive your interest either monthly, or annually before you complete your application. The amount of interest you receive will depend on which fixed rate bond you choose:
We’ll pay monthly interest into a bank/building society account of your choice, no later than the first working day of each month.
We’ll pay annual interest either into your bond account or a bank/building society account of your choice (2 & 3 Year Fixed Rate Bond Only) on the anniversary of you taking out the bond - no later than the first working day after that date.
Please bear in mind you can’t switch between Annual or monthly interest payments mid-term.
Cancelling my Britannia Fixed Rate Bond account:
You can cancel your Britannia Fixed Rate Bond 14 days after your account is opened.
Just visit any branch or write to us at:
We’ll return your money to you without charge (unless you choose for the payment to be made by CHAPS which will incur a £25 fee) and until then, your savings will earn interest as normal.
Receiving statements with my Fixed Rate Bond:
We don’t offer statements with our Fixed Rate Bonds. Instead, you’ll receive a passbook if your application’s successful. For more information, please visit our Fixed Rate Bonds page.
Once my Britannia Fixed Rate Bond matures:
We’ll send you a letter just approximately one month before your Fixed Rate Bond is about to mature. In this envelope, you’ll also receive a maturity option form which you should complete and return to the bank at the above address. This form along with the additional enclosures details the options available to you.
These options are:
- Reinvest all your funds
- Reinvest all your funds and add additional funds (send a cheque (made payable to yourself) for the additional funds)
- Reinvest some of your funds
- Withdraw all of your funds
You’ll need to return this form to us before your maturity date. Otherwise, your funds will automatically default to a Britannia Matured Bond Instant Access account.