Your ‘2 Year Fixed Rate Bond (24)’ is due to mature on 31 October 2021.
Thank you for saving with Darlington Building Society. Your ‘2 Year Fixed Rate Bond (24)’ will mature into the new ‘2 Year Fixed Rate Bond (31)’ from 1 November 2021 and the rate will reduce to 0.65% (Gross*/AER#) fixed until 30 November 2023.
We would like to let you know that a member of staff may call to discuss your options between 18 October and 12 November 2021.
You may wish to compare your current savings account with the new one below.
|Fixed Rate Bond (24)|
until 31 October 2021
|Fixed Rate Bond (31)|
from 1 November 2021
|Are top ups allowed?||No||Top up to the maximum balance of £500,000 from 1 November 2021 whilst the account remains on sale|
|Are withdrawals from or closure of the account allowed?||No, only at maturity||Withdrawal or closure only allowed between 1 and 14 November 2021|
* Gross rate is the rate of interest payable before the deduction of income tax. All interest is paid gross. This is based on the current law and HM Revenue & Customs practice, both of which may change.
# AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once each year.
Interest is calculated daily as per the terms and conditions which you can download below.
The terms and conditions of the ‘2 Year Fixed Rate Bond (31)’ are effective from 1 November 2021.
Please make sure you read and understand these new terms and conditions.
If you are happy for your matured balance to be invested in the ‘2 Year Fixed Rate Bond (31)’ you need do nothing else as this will happen automatically and your account number will remain the same.
But, if you want to consider other options, then between 1 and 14 November 2021 you can:
- Make a withdrawal.
- Top up your account up to the maximum balance of £500,000 whilst the account remains on sale.
- Transfer money to any of our alternative savings’ accounts.
- Close your account.
To do any of these actions simply visit, email or telephone a branch. You’ll need to return your passbook with details of how you would like to proceed between 1 and 14 November 2021. After this window, the normal terms and conditions for the ‘2 Year Fixed Rate Bond (31)’ will apply.
If you don’t think this account is right for you, we have a variety of savings accounts for you to consider. You can find out what is available by checking the savings pages on our website, or getting in touch by email or phone.
Finally, if you think any of your contact details are out of date, please call your local branch so we can change them for you.