Online Bond - 5 year fixed rate
- Guaranteed fixed rate of interest for the duration of the bond
- Monthly and annual interest options
- Save as little as £100 or as much as £2,000,000
- Paperless online application
- Withdrawals or early closure not permitted during the term.
The product terms should be read with the 
Online General Terms and Conditions booklet (General Terms). Together the product terms and the general terms explain how your account works. It is important that you read all the terms before you decide whether to open an account. Terms 10, 11 & 14 of the General Terms explain the circumstances in which we may change the interest rates, terms and conditions and charges relating to your account, and how we will tell you about the changes.
Product Terms
Eligibility
There are no limits on the number of Online Bonds you can open. An Online Bond is available to UK residents only, as a single or joint account and to customers 16 years of age and over.
Deposits and Withdrawals
- The minimum initial deposit is £100.
- The maximum amount you can deposit is £2,000,000.
- Your initial deposit can be made by debit card, transfer from another bank or building society account, or transfer from another account held with the Barnsley (or by cheque if your identity cannot be verified electronically during the application process).
- We do not accept Postal Orders.
- Additional deposits (minimum amount £1) can be made by debit card, transfer from another bank or building society account, or transfer from another account held with the Barnsley. Deposits by account transfer from another Barnsley account will start to earn interest on the day they are credited to your account. To set up a standing order you need to quote the sort code 62-17-19 and a bank account number which comprises the first 8 digits of your Online account number. If you are asked for a reference number please quote the full 10 digits of your Online Bond account number.
- Please note: you can only make deposits to the Online Bond whilst it remains open to new investors. The Online Bond is a limited issue product, which means it can be withdrawn without notice at any time.
- Withdrawals or closure are not permitted other than in exceptional circumstances which will be applied at our absolute discretion, e.g. the death of the account holder, critical illness or by court order. In these circumstances, the deposit and interest to the date of early closure will be paid.
- Transfers to an account with another bank or building society can take up to 5 working days.
- Transfers to another account with the society will normally be credited the next working day.
Maturity
On maturity your balance will be automatically transferred to an online instant access internet account. You may have the option to transfer the balance into another fixed rate product without the need to re-apply.
The maturity dates are:
| Online Bond | Maturity date |
|---|---|
| 4.70% fixed until | 31 May 2015 |
How much you can save
You can save as little as £100 or as much as £2,000,000 per bond.
If you wish to make deposits to the Online Bond we recommend that you arrange this immediately to avoid disappointment. Any payments received after the Online Bond has been withdrawn will be returned to you.
Cooling off period
To provide the fixed interest rate, the Society enters into a fixed-cost transaction in the external money markets. We are committed to this transaction for the full duration of the Bond. This means that once your Bond account has been opened, there is no cooling off period.
Interest
| Online Bond | Annual interest paid | Interest paid until |
|---|---|---|
| 4.70% | 31 May 2011, 2012, 2013, 2014 and 2015 | 31 May 2015 |
Annual interest is payable annually and at the end of the term and may be added to the account or transferred to another account.
Monthly interest is payable on the last day of the month and must be transferred to another account.
Keeping track of your account
You will be able to check your balance and view deposit transactions on your account online whenever you wish. We will advise you of the forthcoming product maturity, and generally communicate with you, via email. It is very important that you notify us if your email address changes.
Changing your details
You can change your contact details (postal address, email and telephone) when you are logged in. To change your name you will need to write, enclosing proof of the change, to Barnsley Internet Savings, PO Box 216, Bradford, West Yorkshire, BD5 5BE.
Not happy with our service?
If at any time you're not satisfied with the service you've received, please let us know. We have a simple process enabling you to do this, the details of which are in our leaflet "Our Top Priority Is You", which can be downloaded from this site, obtained at any of our branches or requested by calling us on 0845 1200 898.
If we cannot come to a resolution to your satisfaction, you may have the right to refer the matter to the Financial Ombudsman Service, of which we are a member.
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.
Financial Services Compensation Scheme
Yorkshire Building Society is a participant in the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000.
Find out more >
General Terms & Conditions
Read and download the Online General Terms and Conditions booklet.
Please also read our Complaints Process and important legal information.
Summary Box
| Summary Box Key Product Information for our Savings Account | |
|---|---|
| Account Name | Online Bond |
| Interest rates (AERs) |
Interest rate fixed until 31 May 2015 Interest paid monthly or annually. |
| Tax Status | Gross or net |
| Conditions for bonus payment | N/A |
| Withdrawal arrangements | Withdrawals or closure are not permitted other than in exceptional circumstances which will be applied at our absolute discretion, e.g. the death of an account holder, critical illness, terminal illness or by court order. In these circumstances, the deposit and interest to the date of early closure will be paid. |
| Access | Online |
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
Online Bond - matures 31 May 2015
| Interest type | Gross pa (fixed) | Net pa (fixed) | AER (fixed) |
|---|---|---|---|
| Annual | 4.70% | 3.76% | 4.70% |
| Monthly | 4.60% | 3.68% | 4.70% |
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.