1 Year Fixed Rate Bond

Annual interest
4.10% gross pa/AER
Interest is paid: Annually, on the anniversary of the day we receive your initial deposit.

Monthly interest
4.03% gross pa/4.10% AER
Interest is paid: Monthly, on the day of the month we receive your initial deposit.

No, the interest rate for this account is fixed and will not change until the end of the 1-year fixed term when your account will mature.

Balance after 12 months

Deposit at account opening: £1,000.00

Interest earned: £41.00

Balance after 12 months: £1,041.00

Please note: This projection is provided for illustrative purposes only and does not take into account the customer’s individual circumstances. This projection is based on no further Deposits or withdrawals made and includes interest earned at the end of the fixed term. The estimated balance is based on the annual gross interest rate.

Opening your account: In branch or online. For existing online customers you can log into your Manchester Building Society account to apply.

Giving us instructions for your account:  In branch, by post, by telephone, online or by secure message (for accounts opened and operated online).

Minimum Opening Deposit: £1

Maximum Opening Deposit: £1 million

Maximum Account Balance: £1 million (plus any resulting interest)

Withdrawals / transfers are not permitted until the end of the 1-year fixed term when your account will mature. Upon maturity your funds will roll into a default savings account which has easy access, with a variable interest rate.

Tax status: Interest will be paid gross which means no tax is deducted. It is your responsibility to pay any tax due, based on your individual circumstances.

Reimbursement of Authorised Push Payment (APP) fraud

From 7th October 2024, new regulations strengthen protection for customers who suffer financial losses due to Authorised Push Payment (APP) Fraud. If you make a payment on or after 7th October 2024, as result of APP fraud, you may be eligible for a refund. Find out more information about your reimbursement rights.

Transferring Windfalls to Charity

All new customers agree to assign any windfall benefits which they may become entitled to on a future conversion or takeover of the Society to the Community Foundation. This is our Charitable Assignment Scheme. By agreeing to this assignment, any windfall benefit will be given to the Community Foundation, one of the leading community foundations in the UK serving Tyne & Wear and Northumberland. This agreement lasts for the first five years of membership, is irrevocable and is a condition of opening an account. Your agreement to open an account with us will be deemed your agreement to the Charitable Assignment Scheme. Please see transferring windfalls to charity or within our Savings General Terms and Conditions for further details.