Our One Year Fixed Rate Corporate Bond allows you to save a lump sum of corporate money for a fixed term with a fixed interest rate.
This account can be withdrawn at any time.
Perfect if you...
- Want to store away your savings for a fixed term
- Want a fixed rate of interest
- Have a lump sum deposit
- You will need a minimum deposit of £5,000
- You must be a limited company, limited partnership, limited liability partnership or a charity registered in the UK
- All signatories must be UK residents aged 16+
One Year Fixed Rate Corporate Bond
The interest rate paid on the account will be paid as below:
|Minimum balance||Interest||Gross p.a./AER*|
Rate effective from 24 November 2023.
Interest is calculated each day on the money in your account and is paid at the end of the fixed term.
The interest rate for this account is fixed for the term and can't be changed.
If your account falls below the minimum balance, the interest rate we'll pay you will reduce to 0.05% Gross p.a/AER*.
This is based on no further money being paid in or taken out of the account and no change to the interest rate.
|Balance||Gross p.a./AER*||Balance at 12 months|
- The business must be a limited company, limited partnership, limited liability partnership or charity registered in the UK.
- Signatories must be 16 or over and a UK resident.
- Have at least one director as a signatory.
- You can open your account online, in branch, by post. If you choose to open your account online, we'll need the business email address and business phone number. We'll also need a mobile and email address for each signatory.
- You'll need to keep a minimum of £5,000.00 in your account to get the interest rate.
- The maximum amount you can pay into this account is £1,000,000.00.
- You're only allowed to pay money in electronically.
- You'll need to provide details of the business's nominated bank account. This will be a current account in its name. When you want to take your money out, we'll send it to this current account.
- You can manage the account online, on the mobile app, in branch, by post, by phone, on webchat.
- The money paid into the account belongs to the business only.
No, you can't take money out of this account. This also means you can't close your account within the fixed term.
Before the one year term ends we'll contact you to let you know. Your account will change to the Corporate Maturity account, which will have a different interest rate. The account number won't change. If you want to switch to a different account, we'll tell you how to do this in the maturity pack that we'll send you.
Our Savings Promises provide you with additional peace of mind, including penalty-free access to your money if your life circumstances significantly change (e.g. serious illness, redundancy, etc). For more information please click here or ask us.
If the total amount of interest you earn is more than your tax-free Personal Savings Allowance, you may have to pay tax to HM Revenue & Customs (HMRC). For more information visit gov.uk.
* Interest Rate definitions: Gross is the interest rate without the tax deducted. AER stands for the Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded once each year.
Where the Savings Terms & Conditions are inconsistent with the account-specific rules and criteria, these account-specific rules and criteria will apply and will take priority.
- This account is for business monies only. Client funds cannot be held in this account.
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