1 Year Fixed Rate Bond (FR225)

1 Year Fixed Rate Bond (FR225)

Maximum Balance


Opening Balance


Withdrawal Notice


Withdrawal Restrictions


Interest Rate



Interest Type: Fixed

Account Operation: Branch Only

Things you need to know - Summary Box

Account Name

Fixed Rate Bond – Issue 225.

What is the interest rate?

4.50% 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.

Can Hanley Economic Building Society change the interest rate?

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

What would the estimated balance be on maturity with a £10,000 deposit?

Based on the interest rate, if you deposited £1,000 in this account, on maturity you would have £1,045.00. 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.

How do I open and manage my account?

To open a savings or mortgage account you must be aged 18 or over, a UK resident, and permanently reside within the UK.

The minimum balance is £1,000, the maximum balance is £75,000.
Additional receipts permitted for 14 days after the opening of the account or until the product is withdrawn whichever is sooner.

You can apply in branch or via telephone via post.

Can I withdraw money?

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The balance plus interest must be withdrawn.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.

Additional Information

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.

Is this Product right for me?

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.

Before You Apply

Before opening an account, it is recommended you read the information below.

Savings Terms and Conditions 2023


Identification Requirements


Service Charges


FSCS Information Sheet


FSCS Leaflet


How to Apply

Apply for this savings account using one of the methods below.

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Find a Branch

Find your nearest branch and visit for expert support and assistance from our team during the application process.

Call Us Today

If you’re unable to visit a branch, just give us a phone call, and one of our Member Representatives will be happy to take your application over the telephone.