3 Year Fixed Rate Monthly Income Bond (Issue 83)


Interest rate 1.25% Gross/AER

The interest is paid annually.

Can the interest rate change? No, the interest rate is xed for 3 years.
Estimated balance at the end of the bond term based on £25,000 deposit £25,937.50

This is an example based on the bond being opened on the 2nd of the month with a deposit of £25,000 for the term of the bond and assumes no further deposits are made while the issue is open. The gure above includes the total amount of interest paid in 36 equal payments to another Progressive account or your nominated bank account on the 1st banking day of each month.

How do I open or manage my account? There are no age restrictions on this bond.

The bond is available to existing Members and new customers resident in Northern Ireland.

There is a minimum lodgement of £25,000 required to open a bond.

The maximum balance for the bond is £1 million.

The bond can be opened and operated at any of the Society’s branches, agencies or by post.

Can I withdraw money? Withdrawals and early closure of the bond are not allowed.
Additional information AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. The AER allows you to easily compare the interest rate on savings accounts. The higher the AER, the better the return on your savings.

Gross rate quoted is the taxable rate of interest without deduction of income tax.

For further information refer to the account terms and conditions below and the terms and conditions contained within the Savings Service Agreement.

We reserve the right not to renew your bond at the end of the fixed term, but will give you at least 30 day’s notice before the bond maturity date should we intend to exercise this right.


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Before you apply, please make sure you read the Summary Box, the account terms and conditions and the Savings Service Agreement in full. You can save or print a copy of the PDFs for future reference.

If you open your account in one of our branches we will use an electronic verification system to verify your identity and address. We cannot do this for postal applications, for applicants under 18 or if you are not registered on the electoral roll. In these instances you will be required to provide full identification documentation and these can be found in our leaflet Proving your identity.

You can view any charges that relate to our savings accounts in our Tariff of charges leaflet.

It is important that you read the account terms and conditions, Savings Service Agreement and review the account Summary Box carefully as these contain the details of your agreement with us for this account and we will rely on them for our relationship with you.

Branch application


Visit your local branch to open this account.

Find your nearest Progressive branch


Postal application


To open this account by post:

  • review the Summary Box on the previous tab;
  • read the account terms and conditions and the Savings Service Agreement;
  • review the FSCS leaflet for further information or visit www.fscs.org.uk;
  • download the application form;
  • return the completed form with your cheque to the branch you want your account opened in.

We recommend that you download a copy of the documents and retain for your records.

Application form  Terms and conditions  Savings Service Agreement FSCS Information


Before you apply, please make sure you read the Summary Box, the account terms and conditions and the Savings Service Agreement in full. You can save or print a copy of the PDFs for future reference.

If you open your account in one of our branches we will use an electronic verification system to verify your identity and address. We cannot do this for postal applications, for applicants under 18 or if you are not registered on the electoral roll. In these instances you will be required to provide full identification documentation and these can be found in our leaflet Proving your identity.

You can view any charges that relate to our savings accounts in our Tariff of charges leaflet.

It is important that you read the account terms and conditions, Savings Service Agreement and review the account Summary Box carefully as these contain the details of your agreement with us for this account and we will rely on them for our relationship with you.

Branch application


Visit your local branch to open this account.

Find your nearest Progressive branch


Postal application


To open this account by post:

  • review the Summary Box on the previous tab;
  • read the account terms and conditions and the Savings Service Agreement;
  • review the FSCS leaflet for further information or visit www.fscs.org.uk;
  • download the application form;
  • return the completed form with your cheque to the branch you want your account opened in.

We recommend that you download a copy of the documents and retain for your records.

Application form  Terms and conditions  Savings Service Agreement FSCS Information