This account provides a fixed rate of interest until its maturity date. Withdrawals are not permitted during the fixed rate period.
Fixed-Rate Bond to 30th April 2028
4.00% Gross*/AER*
Interest is calculated daily and added to your account on the 30th April each year.
The interest rate is fixed until maturity on the 30th April 2028.
£5,408.00
This projection is provided for illustration only and does not consider individual circumstances. This calculation assumes the account is opened on the 1st May 2026 and closes on 30th April 2028 and no further deposits are made.
This account is available to UK residents aged 18 and above. You can only hold one bond with this maturity date either in a personal or joint name(s).
You can open an account using our Online Services, in branch or by downloading an application form from our website and emailing or posting it to us. From the date the account is opened, you have 14 days in which to change your mind and close it without notice or penalty.
A minimum deposit of £5,000 is required. The maximum balance is £150,000 (£300,000 for joint applicants).
Subject to the maximum balance, additional funds may be added up to 14 days after the opening date of the account.
Deposits can be made in branch by cash or cheque or online banking.
You can operate your account in branch or through our Online Services.
No withdrawals are permitted, and the Bond cannot be closed until the maturity date.
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 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.
AER
(Annual Equivalent Rate) differs from the Gross annual interest rate if interest is paid more than once a year. If interest is added to the account, it also earns interest, and the AER reflects this by showing the rate as if interest were paid annually.
Gross
This means we do not take income tax off the interest.
Personal Savings Allowance (PSA)
You may need to pay tax on any interest that takes you over your PSA. The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change. For more information, visit hmrc.gov.uk
Book an appointment to speak with one of our friendly advisers in-branch or over the phone.
BOOK AN APPOINTMENT
Print and complete this form and email to: info@thevernon.co.uk or post to your nearest branch.
DOWNLOAD FORMBook a face-to-face, telephone or online appointment with our friendly team to guide you through our range of savings accounts, and find out if your money could work harder for you.
BOOK A SAVINGS REVIEW
Did you know that your eligible deposits with the Vernon are protected up to a total of £120,000 (£240,000 for joint accounts) by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme?
LEARN MORE
