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Features and benefits
Let's break it down
Summary box for Fixed Saver
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1 year term
3.35% AER/gross fixed interest on balances of £1 or more for 1 year from account opening when interest is paid annually.
3.35% AER/3.30% gross fixed interest on balances of £1 or more for 1 year when interest is paid monthly.
2 year term
3.25% AER/gross fixed interest on balances of £1 or more for 2 years from account opening when interest is paid annually.
3.25% AER/3.20% gross fixed interest on balances of £1 or more for 2 years when interest is paid monthly.
5 year term
3.45% AER/gross fixed interest on balances of £1 or more for 5 years from account opening when interest is paid annually.
3.45% AER/3.40% gross fixed interest on balances of £1 or more for 5 years when interest is paid monthly.
You can choose to have your interest paid monthly or after each year on the date you open the account.
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No. This account has a fixed rate of interest so the rate won’t change during the term.
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For example, if you deposit £1,000.00 when you open a 1 year term account, the balance after 12 months will be £1,033.50.
For example, if you deposit £1,000.00 when you open a 2 year term account, the balance after 24 months will be £1,066.05.
For example, if you deposit £1,000.00 when you open a 5 year term account, the balance after 60 months will be £1,184.82.
This assumes:
- You don’t withdraw any money and interest isn’t paid out of the account.
- You pay your initial deposit on the day you open the account and you don’t make any further deposits.
- Interest is paid each year.
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This account can be opened and managed:
- online
- on our app
- in branch
- by phone.
Bear in mind:
- Online applications must be made in your sole name but the account can be made joint in branch or over the phone, once opened.
- You need to deposit at least £500 to open the account. You have 10 days from account opening to make your deposit. You can make as many deposits as you like within these 10 days.
- After the 10 days are up, you won’t be able to make any more deposits.
- The term starts on the day you open the account.
- The maximum amount that can be held in the account is £9 million.
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You can’t make withdrawals from this account, but you can close the account early.
If you close the account early, for the:
- 1 year term account you’ll be charged the equivalent of 90 days’ gross interest
- 2 year term account you’ll be charged the equivalent of 180 days’ gross interest
- 5 year term account you’ll be charged the equivalent of 365 days' gross Interest.
This means you may get back less than you put in.
When the fixed term comes to an end, the account will change to an Instant Saver. Before this happens, we’ll contact you to explain your options and next steps.
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Open a Fixed Saver
You should read the summary box and the account conditions (PDF, 210KB) before you apply.
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Do you want to apply offline?
If you’d prefer to speak to someone, give us a call or visit your nearest branch.
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