Applying for a 5 Year Bond
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If you already have an account with us and are registered for digital services
5 Year Bond
Apply onlineProduct Overview
- Interest Rate is how much you would earn by saving with us, based on a percentage of your total savings.
- AER (Annual Equivalent Rate) is the interest rate used for comparisons to show how much interest you’ll earn over one year.
- Start saving from refers to the minimum amount required to open that savings account.
- Account type refers to the type of savings account.
Account type
Fixed Rate Bonds
Start saving from
Current Interest Rate
£1,000
3.50% Gross/AER
Start saving from
Current Interest Rate
£1,000
3.50% Gross/AER
- Interest Rate is how much you would earn by saving with us, based on a percentage of your total savings.
- AER (Annual Equivalent Rate) is the interest rate used for comparisons to show how much interest you’ll earn over one year.
- Start saving from refers to the minimum amount required to open that savings account.
- Account type refers to the type of savings account.
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Ensure your future security by saving for the long-term in our 5 Year Bond.
This is ideal for those needing a long-term savings solution, without the temptation to dip in and out of the funds. This fixed-rate bond keeps your money safely locked away for five years, earning a guaranteed rate of interest during that time.
When opening this bond, you’ll need to be certain that you don’t need access to the savings for five years.
You want to keep your savings safe
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You need access to your savings at any time
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You are happy with a low rate of interest
Summary Box for the 5 Year Fixed Rate Bond
Account Name | 5 Year Fixed Rate Bond |
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What is the interest rate? |
The interest rate is fixed at 3.50% Gross/AER.
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Can Furness Building Society change the interest rate? |
As the interest rate is fixed, the rate will not change for the term of the account. |
What would the estimated balance be after 12 months based on a £1,000 deposit? |
Based on the fixed rate of interest, if you deposited £1,000 in this account, after 12 months you would have £1,035.00. At the end of the five year term the maturity balance would be £1,187.69. This figure is for illustration purposes only and is based on annual interest being added to the account on the anniversary each year. |
How do I open and manage my account? |
Opening your account
The Bond is available to savers over the age of 18. To open this account you must be permanently resident in the UK
The minimum opening deposit in the Bond is £1,000 and the maximum is £250,000 (£500,000 joint). Additional deposits in the Bond after the starting date will not be permitted.
Transfers in from other Furness Building Society fixed rate products will not be permitted. You have 14 days after the contract is entered into to notify us in writing at our Head Office or one of our branches if you want to change your mind. If you notify us within this time, we will help you switch to another of our accounts or give you back your money (subject to any cheque clearance periods) together with any interest it has earned. If you do not exercise your right to change your mind, you will be bound by these Terms and Conditions. |
Can I withdraw money? |
No withdrawals or closures are allowed within the term. |
Additional information |
This Bond is a share account with Furness Building Society and you will become a member of the Society on opening the account. The Bondholder agrees to be bound by the rules of the Society and the terms and conditions in addition to the Furness eSavings Online General Terms and Conditions. You must read the ‘Furness eSavings Online General Terms and Conditions’ to ensure you fully understand how your account works and your responsibilities as an account holder.
You have 14 days after the contract is entered into to notify us in writing at our Head Office or one of our branches if you want to change your mind. If you notify us within this time, we will help you switch to another of our accounts or give you back your money (subject to any cheque clearance periods) together with any interest it has earned. If you do not exercise your right to change your mind, you will be bound by these Terms and Conditions.
An eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the building society, including their share of any joint account, and not to each separate account.
A deposit is excluded from protection if: Please note: Where interest is paid Gross this means tax will not be deducted from the interest Furness Building Society pays on your savings. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year (excluding bonuses). Furness Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Furness Building Society is on the Financial Services Register under registration number 159624.
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