Online Fixed Bond - 2 Years

A fixed interest rate account for savers who are happy to put their money away for the two year term.

Please read the summary box before applying

Who this account is for

  • You need to be aged 16 or over and  a UK resident.
  • You need to have at least £2,000 to save.
  • Ideal if you want to put money away for two years. Bear in mind, you can't withdraw money from this account.

The benefits

  • Earn 0.20% gross/AER fixed interest for two years. Interest is paid after each year.
  • The interest rate is fixed so it won't change during the term.
  • You can have up to five Online Fixed Bond - 2 Year accounts. You can name each one to help you save for different things.

How it works

  • Open with £2,000 or more.
  • You have 10 days from the account opening to make your deposit. After the 10 days are up, you can't make any further deposits.
  • After two years, your account will change to a Standard Saver.

Summary box for the Online Fixed Bond - 2 Years

  • Earn 0.20% gross/AER fixed interest on balances of £1 or more for two years.

    Your interest is paid after each year.

     

  • No. This account has a fixed rate of interest so the rate won't change during the term.

     

  • For example, if you deposit £2000.00 when you open the account, after 24 months you will have a balance of £2008.00 after interest is paid.

    This assumes:

    • interest is paid every 12 months after you open the account
    • you make your deposit on the day you open the account
    • you don't add any more money.

     

  • This account can be opened and managed:

    • online.

    You can open this account if you:

    • are 16 or over
    • are a UK resident
    • have £2,000 or more to save.

    You need to deposit at least £2,000 into the account within 10 days of it opening. You can make as many deposits as you like within these 10 days, up to a maximum of £1,000,000. After the 10 days are up, you can't make any further deposits.

    Online applications must be made in your sole name. You can make it joint by going into branch or calling us after you've opened it.

    You can have up to 5 Online Fixed Bond – 2 Year accounts and name each one.

     

  • You can’t make withdrawals from this account but you can close the account early by visiting one of our branches with a counter. Bear in mind that if you close the account before the end of the two year term, you’ll be charged the equivalent of 180 days’ gross interest. This means you may get back less than you put in.

    After two years, your account will change to a Standard Saver. Before this happens, we'll contact you to explain your options and next steps.

     

  • Savings terms explained

    Gross rate means we won’t deduct tax 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. Whenever you see an advert for a savings account which shows an interest rate, you will see the AER. This means you can use the AER to compare accounts. It shows what the interest rate would be if your interest was paid and compounded once each year.

    For more definitions, view our glossary.

     

Apply for a Online Fixed Bond 2 Year account

You can open this account if you:

  • are 16 or over
  • are a UK resident
  • have £2,000 or more to save.

Please read the summary box and the terms and conditions (PDF) before you start.

Apply for an Online Fixed Bond - 2 Year Account

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You can also open an account by calling us on 0345 300 0000. Our lines are open Monday to Sunday from 7am to 11pm. Or, visit us in branch.

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