Performance Bond
| Summary Box - Key Product Information for our Savings Account | ||||
|---|---|---|---|---|
| Account Name | Performance Bonds | |||
| Interest rates (AERs) | Gross | Net | AER | |
| Annual income option | ||||
| £2,000 - 1 year | 3.00% | 2.40% | 3.00% | |
| £2,000 - 2 year | 3.25% | 2.60% | 3.25% | |
| £2,000 - 3 year | 3.50% | 2.80% | 3.50% | |
| Monthly income option | ||||
| £2,000 - 1 year | 2.96% | 2.37% | 3.00% | |
| £2,000 - 2 year | 3.20% | 2.56% | 3.25% | |
| £2,000 - 3 year | 3.45% | 2.76% | 3.50% | |
| Tax Status | Interest is paid net of income tax at the appropriate rate. | |||
| Conditions for bonus payments | No bonus payment is payable. | |||
| Withdrawal arrangements | One Year Bond: No withdrawals allowed until maturity. Two Year Bond: No withdrawals allowed during first year. Withdrawals permitted during second year, subject to 90 days loss of interest and standard branch and agency withdrawal limits. Three Year Bond: No withdrawals allowed during first and second years. Withdrawals permitted during third year subject to 90 days loss of interest and standard branch and agency withdrawal limits. |
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| Access | Via branch or post. | |||
These rates apply from 2 December 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 terms of 1, 2 or 3 years
- Variable interest rates
- Save from £2,000 to £250,000
- Choice of annual or monthly interest
- Withdrawals allowed, subject to conditions, on 2 and 3 year bonds
- No additional deposits allowed
One Year Bond | No withdrawals allowed |
Two Year Bond | Withdrawals allows in the second year, subject to 90 days loss of interest |
Three Year Bond | Withdrawals allowed in the third year subject to 90 days loss of interest |
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For full terms and conditions click here.
Download an application form - please return BOTH sections of the form
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