2 Yr Fixed Rate Loyalty Bond Issue 47 (Monthly Income)


Interest rate

1.15% Gross/AER

The interest is paid monthly.

Can the interest rate change?

No, the interest rate is fixed for two years.

Estimated balance at the end of the fixed term period based on a £5,000 deposit

£5,115.00

This is an example based on the bond being opened on the 2nd of the month with a deposit of £5,000 for the term of the bond. The figure above includes the total amount of interest paid over a 24 month period. This interest will have been paid in 24 equal payments to another Progressive account or your nominated bank account on the first 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 upon the maturity of an existing bond.

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

There is a minimum lodgement of £5,000 required to open this bond and a maximum balance of £1,000,000.

Can I withdraw money?

Withdrawals and early closure of the bond are not allowed.


Additional Information

  • Fixed Rate Loyalty Bonds are for maturing bond funds only. No additional lodgements can be made to the bonds.
  • Monthly interest is paid on the first banking day of each month. Monthly interest must be credited to another Progressive account or your nominated bank account. By banking day we mean Monday to Friday excluding bank holidays. Interest is payable on closure of the bond.
  • We cannot guarantee that a Loyalty Bond will be available at the time your bond matures.
  • 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.
  • The information provided is a summary of the key features of the savings account and it is not intended to be a substitute for reading the terms and conditions that apply to the bond.
  • For further information refer to the terms and conditions of the bond contained within the Fixed Term Savings booklet and the Society’s Savings Service Agreement.
  • The interest rate is correct as at 1 August 2017.

Apply Now


A Loyalty Bond can only be opened by contacting one of our branches or agencies. Please use the link below to search for your nearest branch or agency.

When you open the account in one of our branches we will use an electronic verification system to verify your identity and address.

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 Key Product Information (including Summary Box) carefully as these contain the details of your agreement with us for this account and we rely on them for our relationship with you.

Branch application


Visit your local branch to open this account.

Find your nearest Progressive branch


Terms and conditions  Savings Service Agreement FSCS Information

 


A Loyalty Bond can only be opened by contacting one of our branches or agencies. Please use the link below to search for your nearest branch or agency.

When you open the account in one of our branches we will use an electronic verification system to verify your identity and address.

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 Key Product Information (including Summary Box) carefully as these contain the details of your agreement with us for this account and we rely on them for our relationship with you.

Branch application


Visit your local branch to open this account.

Find your nearest Progressive branch


Terms and conditions  Savings Service Agreement FSCS Information