12 Month Fixed Rate Loyalty Bond (Issue 1)

This account is suitable for eligible existing customers, who prefer a fixed rate of interest and who do not wish to access their funds before maturity.

Summary Box - Key Product Information

What is the interest rate?

  • 1.10% gross, 1.10% AER.

  • For 12 months from date of opening the account. After 12 months from the date of opening, this account will automatically transfer to an instant access account unless instructed otherwise.

  • Interest is calculated on a daily basis and will be credited to the account 12 months from the date of opening. Alternatively, interest can be transferred into another Bath Building Society account or paid by faster payment into a nominated account if preferred.

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 £1000 deposit?

  • Based on the current rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1011.00

  • This figure is only an estimate, based on there being no additional deposits, withdrawals or rate changes in that time with all interest being added to your account. This figure is for illustrative purposes only.

How do I open and manage my account?

  • Available for UK residents only.

  • To be eligible for the 12 Month Fixed Rate Loyalty Bond (Issue 1) you must be an existing customer who has held a Society product for a minimum of 5 years.

  • To open an account, simply download the application form below.

  • Minimum opening and operating balance £500.

  • Maximum balance £100,000 plus interest.

  • Strictly no additional deposits accepted after initial deposit.

  • Account holders will be written to at least 14 days prior to the maturity of their product to discuss alternative options. In the absence of alternative instructions being received, at the end of the term, the account will transfer into an Instant access account.

  • No passbook will be issued with this account, customers will receive an opening certificate by email.

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

Can I withdraw money?
  • Withdrawals are not permitted

  • You can however close the account and withdraw the whole balance during the fixed term, subject to a 90 day interest penalty.

  • If there is insufficient accrued or paid interest to cover any interest penalty, then the difference will be taken from the money in the account.

Additional Information

  • This product is strictly limited to those Members who have had a continuous relationship with Bath Building Society for five years, have a minimum balance of £500 and the account has not been dormant for 15 years or more, and are not in arrears with their Bath Building Society mortgage. This account is a limited issue and can be withdrawn without notice.

  • 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 Account General Terms and Conditions leaflet to ensure you fully understand how your account works.

  • This account is a savings account and must not be used for multiple monthly transactions like a current account.  It isn't a Payment Account for the purposes of the Payment Services Regulations 2017.

Version - June 2020

Further Information