2 Year Fixed Rate Bond (31.07.2024)

Summary Box

Balance in the account % Gross(2) %AERs(1)
£1000 – £500,000 2.50% 2.50%

The interest rate is fixed. Interest is calculated on a daily basis and paid annually on 31st July each year and upon maturity.

The annual interest will be paid directly into your nominated UK bank account, building society account, or a nominated account with the Society. (Excluding this account)

Please refer to section 7 of the Savings Accounts General Terms and Conditions for further information on how we calculate interest.

Where interest is paid to an external UK bank or building society account, the interest will be available within 3 working days.

Details of our full range of products and current interest rates are available on request at our branches, by telephone 01257 235003 or from our website www.chorleybs.co.uk

Interest Rate Definitions

  1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added to the account once each
  2. Gross – The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

This interest rate is fixed until 31.07.2024 meaning we cannot change the interest rate during this fixed term period. After this date your account reverts to the Chorleian Account with a variable rate of interest.

The terms of the Chorleian Account are available in branch or at www.chorleybs.co.uk/savings.

Based on the current rate of interest, if you opened this account on the 1st August 2022 and deposited £1,000 after 24 months on 31.07.2024 your estimated balance would be £1050.00.

This projection is for illustrative purposes only and does not take into account your individual circumstances. The projection is based on no additional deposits, withdrawals or changes in interest rate within the 24 month period.

To be eligible;

  • The account can be held on your own or jointly with someone else.
  • Only one 2 Year Fixed Rate Bond (31.07.2024) is permitted per customer.
  • Transfers of existing funds from Chorley Building Society accounts and new monies allowed.
  • If you are transferring funds from an existing Chorley Building Society Notice Account, the notice period will be waived.
  • One initial deposit allowed. No further deposits allowed.
  • Aged 18 or over and a UK resident to open this

To open an account you can apply in branch, by post or online and let us have;

  • a fully completed Share Application Form
  • at least the minimum deposit of £1000
  • proof of your identity, address and residency
  • the maximum balance is £500,000 and the overall maximum holding by any one person in respect of all savings accounts with the Society is £500,000
  • deposits must be received within 7 days of the account opening

This product can be opened and managed in branch, by post, and via Chorley Online where you are able to view transactions, check your balance and check interest rates. Please refer to the Society’s Savings Accounts General Terms and Conditions.

This is a limited issue and the Society reserves the right to withdraw this product without notice at any time.

No withdrawals or account closures are allowed within the fixed rate term, except in the event of the death of the account holder.

The fixed term will end on the 31st July 2024. The account balance will then be available on the next working day. ‘Working day’ means a day other than a Saturday, Sunday or Bank Holiday.

We will contact you at least 14 days prior to the end of the fixed rate term to advise you of the options available at that time.

If you take no action on maturity the balance will be automatically transferred into an Easy Access Chorleian Account within the Society bearing the account holder’s name. Please refer to the Society’s Savings Accounts General Terms and Conditions for further details.

At that time you may withdraw by cash, cheque or CHAPs* (*subject to a £25 fee). Cheques will be issued within 48 hours of maturity and posted 1st class to the account holder.

Withdrawal conditions apply; please refer to section 9 of the Savings Account General Terms and Conditions for further details. The terms of the Chorleian Account are available in branch or at www.chorleybs.co.uk/savings

Whether you need to pay tax is dependent on your own personal circumstances and may be subject to change in the future. For more information on Tax Allowances please call HMRC on 0300 200 3300 or visit https://www.gov.uk/apply-tax-free-interest-on-savings

Before applying for any of the above accounts please ensure you read and understand the following:

Please also refer to our Identification Criteria in case we need to request more information from you

If applying by post, please ensure you print and sign before returning your application to the following address:

If applying by post, please ensure you print and sign before returning your application to the following address:

Savings & Investment Department
Chorley Building Society
Key House
Foxhole Road

Got an Enquiry? 01257 235003
Request a Callback

    The Society will collect your email address as an alternative means of communication if we cannot reach you via telephone. This data will not be used for any other purpose.