- have a lump sum of at least £5,000 to deposit and you don't want to continue to pay in after 05/03/2025.
- want a fixed rate of interest that's guaranteed for the fixed term.
- don’t need access to your savings during the fixed term.
- are aged 16 and over.
Summary Box
It is important that you read all parts of the Summary Box before you apply.
Account Name
18 Month Fixed Rate Bond
What is the interest rate?
Annual interest:
4.15% gross pa/AER
Monthly interest:
4.07% gross / 4.15% AER
- This account earns interest daily.
- If you choose annual interest, it’s added to the account the day before the anniversary of account opening and the day before the end of the fixed term.
- If you choose monthly interest, it’s added to the account the day before the same date in the month your account was opened or, if there’s no such date, on the last day of the month. For example, if your account was opened on the 30th of the month, monthly interest would be added on the 29th.
- If you ask us to pay interest to another account, we’ll pay it on the first business day after the day we’d have added it to this account. Business days exclude Saturday, Sunday and bank holidays.
Can Skipton Building Society change the interest rate?
- The interest rate is fixed for the term of the account.
What would the estimated balance be at the end of the fixed term based on a £5,000 deposit?
The estimated balance at the end of the fixed term would be £5,314 based on the following assumptions:
- the account is opened with £5,000 and starts earning interest straight away.
- no further deposits or withdrawals are made.
- the interest is paid annually and on maturity.
- the interest is added to this account.
Estimated balances are for illustrative purposes only. They may be less for accounts opened by debit card or cheque, because interest won’t be earned until your account receives the deposit.
How do I open and manage my account?
- This account is available to UK residents aged 16 or over.
- To open and manage this account, a valid email address must be provided.
- You can open and manage it through Skipton Online, in the Skipton App, in branch, by post or phone. You may be required to set up appropriate security and access measures, and these might differ depending on how you choose to manage the account.
- The minimum opening and operating balance for this account is £5,000.
- Any payments into this account need to be received on or before 05/03/2025. After this, the account will be closed to future payments in.
- The maximum balance for this account is £1 million.
- Joint accounts are allowed, but cannot be opened in the Skipton App.
Can I withdraw money?
- You've 14 days from when you open your account to notify us (in writing, in branch or by phone) if you wish to cancel your account.
- You can’t withdraw money until the end of the fixed term.
- At the end of the fixed term, which is known as ‘maturity’, your account will automatically transfer into a new 1 year fixed rate bond, unless you tell us otherwise when we contact you before maturity. You can find out more about the maturity process in term 9 of the further terms and conditions.
Additional information
- The Annual Equivalent Rate (AER) shows what the interest rate would be if interest was paid and added each year.
- We pay all savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.
- Accounts can be withdrawn from sale at any time and without notice.
Before you apply:
- You need an active email address to open this account. If you don't have one, call us or visit your local branch to discuss your options.
- You may need to prove your identity – to find out more about this, please read How to prove your name and address [PDF]
- Read these documents in full:
You're protected up to £85,000
Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
