Charity Fixed-Rate Bond to 31st August 2027

Charity Fixed-Rate Bond to 31^st August 2027

3.50% Gross*/AER*

Interest is calculated daily and added to your account on 31^st August each year.

The interest rate is fixed until maturity on the 31^st August 2027

£5,175.00

This projection is provided for illustration only and does not consider individual circumstances. This calculation assumes the account is opened on the 1^st September 2026 and closes on 31^st August 2027 and no further deposits are made.

Who is eligible?

This account is available to:

• UK organisations whose principal office is domiciled in the UK and are registered with the Charity Commission for England & Wales, the Office of the Scottish Charity Regulator, or the Charity Commission for Northern Ireland.
• Community Interest Companies registered as such with the Office of the Regulator of Community Interest Companies and are incorporated as a CIC at Companies House

Restricted to one account per organisation.

How do I open an account?

To open an account, speak to our Customer Services Team on 0161 429 6262 or download an application form from our website.

Registered charities should use our Registered Charities application form and Community Interest Companies should use our Business Deposit application form.

Completed applications with all relevant documentation and identification should be sent to:

• customerservices@thevernon.co.uk, or by post to:
• Vernon Building Society, 19 St Petersgate, Stockport, SK1 1HF.

What are the account limits?

The minimum deposit is £5,000.

The maximum balance is £250,000.

Subject to the maximum balance, additional funds may be added up to 14 days after the opening date of the account.

All deposits must be made by bank transfer.

How do I manage the account?

You may register up to 6 signatories and you can choose whether the account requires 1 or 2 signatories to operate.

Deposits must come from the charity that opens the account. Other companies or entities within the same corporate group cannot pay money into the account.

Any amends to the set-up of the account or to signatories must be submitted to us in writing using the amendment form, authorised by the Appointed Officers.

No withdrawals are permitted during the fixed term, and the Bond cannot be closed until the maturity date.

Maturity

In the month of maturity, we will send you a Maturity Schedule outlining the options available at that time. If you wish to withdraw funds at term-end, you will need to complete this schedule and return it to the Society. On the date of maturity, unless you tell us otherwise, your investment will automatically transfer to a new 1-year Charity Fixed-Rate Bond. You will have 14 days to change your mind.

The information contained in this summary box forms part of the terms and conditions of the account and should be read in conjunction with our Terms & Conditions for Savers.

In some circumstances, certain charities are not protected by the Financial Services Compensation Scheme. Please refer to our FSCS Depositor Information and Exclusions sheet for further details.

*Interest rate terms explained:

AER

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross

The interest rate without tax deducted.