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A fixed interest rate account for savers who are happy to put their money away for either one or two years.
Interest rate | Features and benefits | Bear in mind | Withdrawals | Access |
---|---|---|---|---|
0.45% 0.55% |
|
|
|
|
0.45%
gross/AER fixed for the 1 year term
0.55%
gross/AER fixed for the 2 year term.
Features and benefits
Bear in mind
Withdrawals
Access
It’s a fixed rate, as shown in the table below
Term | Your balance | Annual interest | |
---|---|---|---|
Gross | AER | ||
1 year | £1+ | 0.45% | 0.45% |
2 years | £1+ | 0.55% | 0.55% |
No.
This account has a fixed rate of interest so the rate won’t change during the term.
Below is an example of what the future balance might be, after interest has been paid:
Term | Initial deposit | Gross rate | Balance after |
1 year | £1000.00 | 0.45% | 12 months £1004.50 |
2 years | £1000.00 | 0.55% | 24 months £1011.03 |
This example assumes that:
This account can be opened and managed online, in branch or by phone.
Opening this account
At the end of the fixed term, the account automatically changes to an Instant Saver. See Instant Saver interest rates (PDF).
Before this happens, we'll contact you to explain your options and next steps.
Gross rate means we won’t deduct tax automatically from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC).
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will include an AER, it makes it easier for you to compare what return you can expect from your savings over time.
Otherwise, you can apply by phone on 0345 726 3646, 8am-8pm Mon to Fri, 8am-8pm Sat and 9am-5pm Sun or book an appointment at your local branch at a time to suit you.
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've a chance of winning one of 3 top prizes of £100,000, if you register and hold £5,000 in a qualifying account during the whole calendar month before each draw.
Please note:
Rates of interest are subject to change
Interest rates are fixed on account opening
Fixed Saver 1 Year interest rates are effective from 0:00am on 01/12/2017
Fixed Saver 2 Year interest rates are effective from 0:00am on 09/01/2018
For a definition of AER, Gross and other terms please view our savings glossary.