1 Year Fixed Rate Bond (FR242)

Fixed Rate Bond – Issue 242.

3.75% AER†/gross pa fixed for 1 year. Interest is calculated daily and paid on maturity.

†AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross is the rate of interest if interest were paid and not compounded each year.

Interest is calculated daily from the day of receipt in the case of a deposit by cash or transfer and from the following day of receipt in the case of a deposit by cheque. Interest shall accrue up to the maturity date.

The interest on this account is fixed for the term of the Fixed Rate Bond and cannot be changed.

Based on the interest rate, if you deposited £1,000 in this account, on maturity you would have £1,037.50. This figure is for illustration purposes and is based on no additional deposits during the term of the bond. For illustrative purposes only and does not take into account individual circumstance.

The account can be opened by new or existing members.

To open a savings or mortgage account you must be aged 18 or older, UK resident, and permanently reside within the UK. The minimum balance is £1,000, the maximum balance is £75,000. No Additional receipts are permitted. Only one account per Member.

Simply call into your local branch. You may need to provide some identification when you open your account, details of our requirements can be obtained here, or from your local branch or by calling 01782 255000. If you are already a Hanley customer, in most cases, this will not be necessary.

When you open your account you will receive a passbook. Once the account has been opened it can be managed either in branch and/or via the post.

This is a Fixed Rate account and fixed until maturity; there is no early access or early closure of this account permitted.

Funds will be available for transfer or withdrawal after the end of the fixed period.

The balance plus interest must be withdrawn.

On maturity you will have the following three options:

• Transfer the balance to a new Fixed Rate Bond savings account with the Society.
• Transfer the balance to an existing savings account with the Society.
• Transfer to another Bank/Building Society account.

If you don't choose an option listed above, the Society will open a new variable rate savings account with the Society and transfer the balance into the new account (This is the default option unless you tell us differently).

You will be contacted 14 days before maturity of this product to determine your ongoing requirements.

The treatment of your account for tax purposes will depend on your individual circumstances and you may need to pay tax on any interest that exceeds your Personal Savings Allowance. For more
information please visit HM Revenue & Customs’ (HMRC) website http://www.hmrc.gov.uk. The tax
information provided is based on our understanding of current law and HMRC practice, both of which may change.

Only 1 bond per Member is permitted.

Minimum age 18 years.

UK residents only.

These product details should be read in conjunction with the Savings Terms and Conditions.

The Savings Terms and Conditions can be viewed online or requested from any branch of the Society.

Yes if

You are happy to lock away your money for a fixed term.

You are looking for an interest rate that won't change.

You want to open or manage your account in branch or via the post.


No if

You want instant access to your money.

You want to put money away on a regular basis.

You want to open and manage your account online.