Premier 2-Year Flexible Bond
Lock in a great rate for a fixed term on a lump sum balance, with some access to your money
You must be a Citizen Mutual Premier customer. If you already bank with us, one of the quickest ways to open this account is in the Citizen Mutual app or Online Banking. Simply log in or register for Online Banking.
Lock in a great rate for a fixed term on a lump sum balance, with some access to your money
- Only available to Citizen Mutual Premier customers
- Fixed rate of 4.25% AER / gross per year
- Make up to three withdrawals, each one of up to 10% of your initial deposit
- Open and manage your account using our app, Online Banking or by phone
- Open with a lump sum deposit. No additional deposits allowed
Summary box
| Interest option | Monthly Tax-free% p.a. | End of term Tax-free% p.a. | AER % (all interest options) |
|---|---|---|---|
| 2-Year term | 4.25 | 4.25 | 4.25 |
Monthly and end of term interest payment options are available.
Monthly interest will be paid into your nominated Citizen Mutual account (this must be in the name of one or more Flexible Bond holders) or will be paid to you by cheque.
As monthly interest is paid into your nominated account, the interest does not compound in your bond.
End-of-term interest is paid to your bond at maturity.
For terms of more than one year the actual interest that you receive at the end of the term will be higher as it includes compounding from year to year.
Tax liability on interest applies in the tax year it is paid, which may be different to the tax year(s) in which it is accrued. This means If you choose end of term interest, you’ll receive all of your interest in one tax year and you could reach or exceed your Personal Savings Allowance more quickly in that tax year.
Can Citizen Mutual change the interest rate?
No, the interest rates are fixed for the 2-year term of the of the bond.
What would the estimated balance be at the end of the term based on a $1,000 deposit?
| Deposit amount | Monthly (Estimated value at the end of term) | End of Term (Estimated value at the end of term) |
|---|---|---|
| $1,000 | $1,085.00 | $1,086.81 |
How do I open and manage my account?
You can open an account online, in the Citizen Mutual app or through your usual contact. Please see the ‘How to apply’ section below for more details.
You can manage your account in branch, or using Online Banking, the Citizen Mutual app or Telephone Banking – provided you’re registered.
You can open this bond with $1 – the maximum balance is $1 million.
Eligibility
To apply for this bond, you must
- Be a Premier Banking customer
- Be aged 18 or above
Can I withdraw money?
You can make 3 withdrawals during the term of the bond. The maximum value per withdrawal is 10% of your initial investment into the bond.
You can access your funds and manage your account in branch, or using Online Banking, the Citizen Mututal Bank app or Telephone Banking – provided you’re registered.
We’ll contact you again before your bond matures to find out what you’d like to do next.
Additional information
Interest is paid gross. If you’re a taxpayer, you may have to pay tax on interest earned in excess of your Personal Savings Allowance – for information and guidance please refer to relevant authorities's website. It’s your responsibility to ensure that any tax due on interest payments received is paid to the appropriate tax authority.
Our Premier 2-Year Flexible Bond - Issue is a strictly limited offer exclusive to Premier Banking customers, and may be withdrawn at any time.
Additional deposits are not allowed at any time during the term of the Bond, although a bond holder may acquire additional bonds subject to availability.
