CallSave 2 Yr Fixed Bond (34) 31.08.2012
Earn a fixed rate of interest until 31 August 2012 with the added convenience of our telephone service.
Effective from 23rd July 2010
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Account name | CallSave 2 Yr Fixed Bond (34) 31.08.2012 |
Interest rates (AERs) | The interest rate is fixed until 31.08.2012. For details see the table above.
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Tax status | Interest is paid net of tax unless a form R85 is completed.
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Conditions for bonus payment | Not applicable.
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Withdrawal arrangements | Withdrawals and closure will not be allowed before the bond matures, except in the event of death of a sole account holder.
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Access | At maturity withdrawals can be made by BACS transfer to your nominated account, transfer to another Coventry account on which you are named, or by cheque payable to a third party.
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Interest
- The interest rates on this account are fixed and will remain unchanged until 31 August 2012, whatever happens to interest rates generally. Interest is paid either annually or monthly.
- Annual interest is paid on 31 August and can be added to your bond or paid to another account on which you are named. If you would like access to your annual interest, you should request that it is paid to another account. You cannot withdraw interest that has been added to your fixed bond before maturity.
- Monthly interest is paid on the last day of the month and must be paid to another account.
Using your account
- This account is operated by telephone and you may also choose to operate it online.
- We'll provide you with an annual statement to make sure you keep up to date with your money.
Paying money in
- The minimum balance is £1, and the maximum balance is £250,000. Once your account is open you can make payments into it by cheque or internal transfer whilst the bond is open to new investors or for 7 days after your initial deposit, whichever is longer.
Withdrawals
- It is not possible to make withdrawals or close this fixed rate bond before it matures, except in the event of the death of a sole account holder. We have a range of other accounts that provide access to your funds if you need it - please ask us for details or visit our website www.thecoventry.co.uk.
Maturity
- This bond will mature after the close of business on 31 August 2012. At maturity, your savings in the bond will be automatically re-invested unless you instruct us otherwise. However, you will have the option to withdraw or transfer some or all of your savings in the bond to another account with us, penalty-free, within 14 days following maturity.
Notes
1. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.
2. The minimum opening balance is also the minimum level at which the account should be operated. If the balance of an account falls below the minimum stated, and the Society has not exercised its right to close the account, the interest rate paid will be nominal. This nominal rate is our basic variable investment rate currently 0.10% AER/gross p.a., 0.08% net.
3. Interest is calculated gross, which means before tax has been deducted. Interest is usually paid net of tax (after tax has been deducted at the current rate of 20%). If you are taxed at the basic rate you should have nothing more to pay. If you are a higher rate tax payer you are likely to have to pay more tax.
Non-taxpayers can register to have their interest paid gross by completing a form R85 for each account and each account holder, (if both are entitled to have interest paid gross). Tax may be reclaimed from HM Revenue & Customs where the amount deducted exceeds an investor's liability to tax. If you are in any doubt about your tax position please contact your local tax office.
4. Please refer to the account terms and conditions and Fixed Bond leaflet for full details of this account. Details of any charges applicable to accounts are available on request from any branch, by telephone or on our website.
