SSAS Fixed Term Deposits

 These accounts are available for Small Self-Administered Pension Schemes only.


Summary Box - Key Product Information

What is the interest rate ?

  • A fixed rate can be agreed for either a 6 or 12 month term from the date of opening the account.

  • The interest rate will be agreed for each individual deposit, and is only confirmed on the day that funds are received and the account opened.

  • Interest is calculated on a daily basis and will be capitalised either 6 or 12 months from date of opening, depending on which option is taken.

Can Bath Building Society change the interest rate?

  • The interest rate is fixed throughout the term of the investment and cannot be varied during that period.

What would the estimated balance be after 12 months based on a £50,000 deposit?

  • As the interest rate is only finalised once funds have been received and the account opened, it is only possible to provide an example using an indicative rate.This example is based on a rate of 0.50%.

  • Based on this rate, if you deposited £50,000 in this account, after 6 months you would have £50,125 and after 12 months you would have £50,250.

  • These figures are only an estimate, and for illustrative purposes only.

How do I open and manage my account?

  • Available for UK residents only, applicants must be aged 18 and above.

  • All enquiries for an account should be directed to the Society’s Investment Managers.

  • Accounts are opened by completing a specific SSAS application form, which can be obtained from our Customer Support Department, or alternatively downloaded from our website.

  • Personal details of all named members or signatories are required, which includes name, address, NI Number and date of birth.

  • A copy of the Pension Deed and Scheme detail will be required from any Pension Trustee involved, together with a list of their authorised signatories.

  • Minimum opening balance £50,000.

  • Maximum balance £250,000.

  • Once placed, funds may not be added to the initial investment.

  • It is also possible to view all the accounts you hold with Bath Building Society by registering through our website

Can I withdraw money?

  • No access before maturity.

  • Account holders should contact the Investment Managers at least 3 days prior to the maturity date of their investment to advise their repayment or re-investment instructions. In the absence of any contact from the customer, we will try to establish contact. However, if this has not been possible for any reason before 9am on the maturity date, the investment and interest will remain in the account, which will revert to a SSAS Pension Instant account.

Additional Information

  • This account is a limited issue and can be withdrawn without notice. Applications which have not been received at the time of withdrawal will not be processed.

  • An opening statement of deposit will be produced. No closing statement will be produced, but customers can register online to view and print information.

  • Applicants are asked to confirm that they have read the FSCS information and exclusion sheets.

  • This is a summary of the key features of the account. You should read both the Savings Accounts and General Terms and Conditions leaflets to ensure you fully understand how your account works.

Version: December 2017

Further Information