Fixed Rate/Fixed Term for 1 year
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | 1-year Fixed Term Savings Bond | |||
| Interest rates (AERs) | Gross | Net | AER | |
| Annual income option | ||||
| £1,000+ | 4.50% | 3.60% | 4.50% | |
| Monthly income option | ||||
| £1,000+ | 4.41% | 3.53% | 4.50% | |
| The account is a fixed term investment for a period of one year from date account is opened. | ||||
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements | You may close or make withdrawals from the Bond subject to 120 days loss of interest on the amount withdrawn and standard branch and agency withdrawal limits. This penalty will not be applied in the event of the death of an account holder. | |||
| Access | Via branch or post | |||
These rates apply from 13 November 2008.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Gross % rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
The 'net rate' is the rate of interest which would be payable after allowing for the deduction of income tax at the specified rate.
AER % rate stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Download our latest interest rates
Product features
- Fixed term of 1 year
- Early closure/withdrawal on loss of 120 days interest
- Save from £1,000 to £250,000
- Fixed interest rate for the term
- Choice of annual or monthly interest
- No additional deposits allowed
For full terms and conditions click here.
Download an application form - please return BOTH sections of the form
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