Rollover Bond
- Ideal home for longer term savings
- Fixed, up-to-date interst rate
- Minimum initial deposit of only £100
- Automatic rollover into a new 1 year term
- Access to your money without loss of interest during the rollover month
Product Terms
Eligibility
The Rollover Bond is available to UK residents and to individuals acting as trustees on their behalf.
Deposits and Withdrawals
- The minimum initial deposit is £100.
- The maximum amount you can deposit is £500,000.
- Unlimited withdrawals and closure permitted during rollover month without loss of interest.
- Early closure is only permitted after 3 months, with 90 loss of interest in the closing balance.
- Deposits or withdrawals may be carried out in branches or via post.
- We can only provide cheque withdrawals by post. For larger amounts, prior notice may be required.
Rollover month
The month in which deposits, withdrawals or closure are permitted without incurring a loss of interest. For example: If you open a Rollover Bond in June, you will have until the end of the month to make any additional deposits or withdrawals. From the 1st July, your rollover bond will be 'closed' to additional deposits until 1st July the following year. Your next rollover month will start on the 1st July to 31st July the following year. The year after, it will be 1st August - 31 August and so on.
| Available from | Last date of investment term | Annual interest paid | Rollover month | |
|---|---|---|---|---|
| January | 01 Jan - 31 Jan | 31 Jan 2010 | 31 Jan 2011 | 01 Feb - 28 Feb |
| February | 01 Feb - 28 Feb | 28 Feb 2010 | 28 Feb 2011 | 01 March - 31 March |
| March | 01 March - 31 March | 31 March 2010 | 31 March 2011 | 01 April - 30 April |
| April | 01 April - 30 April | 30 April 2010 | 30 April 2011 | 01 May - 31 May |
| May | 01 May - 31 May | 31 May 2010 | 31 May 2011 | 01 June - 30 June |
| June | 01 June - 30 June | 30 June 2010 | 30 June 2011 | 01 July - 31 July |
| July | 01 July - 31 July | 31 July 2010 | 31 July 2011 | 01 Aug - 31 Aug |
| August | 01 Aug - 31 Aug | 31 Aug 2010 | 31 Aug 2011 | 01 Sept - 30 Sept |
| September | 01 Sept - 30 Sept | 30 Sept 2010 | 30 Sept 2011 | 01 Oct - 31 Oct |
| October | 01 Oct - 31 Oct | 31 Oct 2010 | 30 Oct 2011 | 01 Nov - 30 Nov |
| November | 01 Nov - 30 Nov | 30 Nov 2010 | 30 Nov 2011 | 01 Dec - 31 Dec |
| December | 01 Dec - 31 Dec | 31 Dec 2010 | 31 Dec 2011 | 01 Jan - 31 Jan |
Up-to-date interest rate
At the start of each month we will set the (interest rate) that will apply throughout the term to all Bonds opened during that month. Regardless of what happens to interest rates, you can open a Bond at this rate until the last working day of the month. A new rate of interest will be set at the start of the following month. Of course, interest rates available in previous or subsequent months could be higher or lower than when your Bond is opened due to changing economic conditions.
How much you could save
You can save as little as £100 or as much as £500,000.
A new issue of the Bond is introduced each month and there is no limit to how many you can have. When you have opened a Bond, we will give you a receipt for the amount you have invested and at the end of the month in which your Bond is opened, we will also send you a certificate to confirm your investment and interest rate.
On maturity
At the end of the term your balance will be transferred to a new issue of the Bond and your "rollover month" will begin.
We will send you a new certificate in the first week after maturity showing you how much interest you have earned, the balance carried forward and the rate of interest applying to the latest issue.
During the rollover month you will have instant access to your money and will be able to add to your balance. If you want to keep your money in the Bond - do nothing.
The Barnsley
If you open an account it will be with Yorkshire Building Society (trading as Barnsley Building Society). Barnsley Building Society is operated under its own brand with its own products and as a trading name of Yorkshire Building Society.
Barnsley Building Society will communicate with you in English.
Full terms
Full terms and conditions for this account are available by calling 0845 1669 206.
Summary Box
| Summary Box Key Product Information for our Savings Account | |
|---|---|
| Account Name | Rollover Bond |
| Interest rates (AERs) |
One year fixed rate paid annually or monthly,View interest rates. |
| Tax Status | Gross or net |
| Conditions for bonus payment | N/A |
| Withdrawal arrangements | Unlimited withdrawals and closure permitted during Rollover month without loss of interest. No withdrawals permitted during the fixed term. Early closure during each fixed term is only permitted after 3 months, with 90 days loss of interest on the closing balance. |
| Access | Branch |
Whether you can benefit from gross, net or tax free interest is dependent on your personal circumstances and tax status and so may be subject to change in the future.
Gross rate p.a.
Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.
Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.
AER
Annual Equivalent Rate shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
Interest Rate
Rollover Bond - effective 1 September 2010
| Balance | Annual interest rates | Monthly interest rate | ||||
|---|---|---|---|---|---|---|
| Gross | Net | AER | Gross | Net | AER | |
| £100+ | 2.00% | 1.60% | 2.00% | 1.98% | 1.58% | 2.00% |
NB. AER quoted assumes that the investment is made on the final day of the month.
Interest rates are fixed. All rates shown are per annum.
AER stands for Annual Equivalent Rate and shows you what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
Net: Interest on investments and savings amounts is payable net of income tax, which means after the deduction of income tax at the lower rate of 20%, or subject to the required registration gross.
Barnsley Building Society and the Barnsley are trading names of Yorkshire Building Society. Principal office: Yorkshire House, Yorkshire Drive, Bradford BD5 8LJ.
Yorkshire Building Society is a member of the Building Societies Association and is authorised and regulated by the Financial Services Authority and are entered in the FSA register and our FSA registration number is 106085.
Get in touch with us:
- Call us on 0845 1 200 898
Lines are open from 9am – 5pm, Monday to Friday. - Find a branch:
http://www.barnsley-bs.co.uk/about/branches.html - Manage your accounts online:
http://www.barnsley-bs.co.uk/security/online_help.html
This site is intended for UK Residents unless otherwise stated. All communications with us may be monitored/recorded to improve the quality of our service and for your protection and security.