9 January 2023

  • News

Sheffield Mutual increases their interim bonus rates for 2023

“2023 is set to be a busy year for the Society. We will be growing the team with additional resource and investing in our online and office systems to further improve our service to you.

We’re pleased to announce our new 2023 interim rates for tax exempt savings, regular savings and bonds to apply from 1 January 2023 (shown below).  We continue to apply terminal bonuses to all policy types, depending on the year of investment (please see the website for current information).

Despite external challenges over recent years, we hope you agree that we have remained available for our members to provide the same exceptional standards of personal service that our members expect. We’ve received many positive online reviews throughout the year, with a 4.9 out of 5 score on Reviews.io, and continue to receive supportive member satisfaction form responses, which we’re extremely proud of. As our members are at the heart of everything we do, we’re passionate about the service we provide.

Jamie Bellamy, Chief Executive Officer

2023 Interim bonus rates from 1st January 2023

Tax Exempt Savings Plan (Type 43)1 


Tax Exempt Savings Plan with Life Insurance (Type 24)1 


Regular Savings Plan (Type 47)1 


Investment Bond2 


Income Bond2 


The interim rates are not guaranteed. 

1 Bonuses are calculated based on the sum assured amount, not the amount paid in. 

2 Terminal bonuses currently apply to some bond maturities, are not guaranteed and may be removed at any time without notice. 

An increase of 0.5% will also apply to Tax Exempt Savings Plan Type 23 and Regular Saving Plan Type 27 (no longer open to new business).  Our interim rates for ISAs and Junior ISAs were increased from the 1st August 2022 to 4.00% and 4.25% respectively (this is the rate before the charge of 1.50% is applied).  

A link to our performance page can be found here.

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