If you don't need access to your savings, you could earn a higher rate of interest with a fixed-term bond.

Our Fixed Rate Bonds pay a fixed rate of interest for a set period of time, making them ideal for lump sum deposits.

We are currently offering a number of limited edition bonds.

Fixed Rate Bonds

2 year fixed rate of 1.10% Gross/AER
3 year fixed rate of 1.25% Gross/AER
Invest from £500 to £1 million.


Key product information for our new Fixed Rate Bonds


What are the interest rates?

  • 2 year Bond - 1.10% Gross/AER fixed until 20 July 2022.
  • 3 year Bond - 1.25% Gross/AER fixed until 19 July 2023.

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

Gross interest is added annually and payable at maturity on 20 July 2022 and 19 July 2023 respectively.


Can Scottish Building Society change the interest rates?

Rates are fixed until after the maturity date. This means we cannot change the rates until after the fixed-rate period.


What would the estimated balances be based on a £1,000 deposit?

If you open a 2 yr Fixed Rate Bond, and deposit £1,000, after 12 months the projected balance would be £1,011.

If you open a 3 yr Fixed Rate Bond, and deposit £1,000, after 12 months the projected balance would be £1,012.50.


These projections are for illustrative purposes only and do not take into account your individual circumstances.



How do I open and manage the account?

This account is available to anyone over 18 and resident in the UK. You can open an account in branch or download and complete an application form online. The minimum opening deposit amount is £500, up to a maximum of £1million.

At the end of the fixed-rate term your account reverts to an Instant Access Saver account.


Can I withdraw money?

You cannot make withdrawals during the term of the Bond(s).


Additional Information

Interest is paid gross without tax deducted. A small proportion of savers may be required to pay tax on savings interest – this should be arranged directly with HMRC through your tax return.

Please read the Savings Terms & Conditions leaflet for general conditions that apply to this account.

How do I apply?

You can complete an online application below. We will return this to you for signature and details of any documentation we require.

Alternatively, download a form and return to any branch or agency office, along with proof of your identity and initial deposit. You can also post your application and necessary documentation to:

Scottish Building Society

SBS House

193 Dalry Road


EH11 2EF

Your Right to Cancel

If you wish to change your mind about any savings or investment account, please contact us within 14 days of opening the account. We will help you switch to another account with us or return your money in full together with any interest earned (without notice period or charges).

Your Questions Answered

How much do I need to open an account?

You can open the account with any amount from £500 to £1 million; no additional funds can be added at any time.      

Can I make withdrawals from my Fixed Rate Bond?

No withdrawals are permitted during the fixed rate period. When the fixed rate term ends, you will have instant access to your savings with no restrictions. We will write to remind you of this shortly before your term ends.

Can I close my Fixed Rate Bond early?

No - closure during the fixed rate period is not permitted. 

Am I guaranteed to be accepted for this bond issue?

This is a strictly limited issue and applications will be accepted on a ‘first come, first served’ basis until the issue has been fully subscribed.  If your application is received after the issue has been closed, we will contact you to obtain further instructions.

When is the interest due?

Depending on which of our Fixed Rate Bonds you have, interest will be added to your account when the account matures (see above for dates). If you prefer, the interest can be transferred to another account with us or paid to your bank

New Saver Enquiries

0345 600 0585

New Mortgage Enquiries

0345 600 4085

Existing Member Enquiries

To talk to us about an existing savings or mortgage account, contact your local office

Find your local office

Lines open 9-5 Mon to Fri (10-5 Wed). Calls may be recorded and/or monitored.