One Year Fixed Rate Loyalty Bond

One Year Fixed Rate Loyalty Bond

The interest rate paid on the account will be paid as below:

Rate effective from 3 December 2025.

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.

• You have held a savings or mortgage account with Saffron for 3 months. Alternatively, you must have been a signatory, Power of Attorney or Court of Protection with Saffron for at least 3 months.
• You can switch to this product when your existing Saffron account has matured and top up your funds, you can do this on the mobile app or online services. You can set up your maturity instruction from 14 days before the maturity date of your existing product.
• You must be 16 or over and a UK resident to have this account.
• You can open the account online, in branch, by post. If you choose to open your account online, we'll need your email address and mobile phone number.
• You need to pay money into your account within 30 days of opening it. If you don't, we'll close the account.
• You'll need to keep a minimum of £500 in your account to get the interest rate.
• The overall maximum that can be held in this account is £500,000.00.
• No further funds can be added after the opening deposit.
• You can manage the account online, on the mobile app, in branch, by post, by phone, on webchat.

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 Easy Access 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.

New fraud rules from 7 October 2024 mean that with this product, you're eligibility to claim for fraud has changed. For more information please click here.

If we delegate any of our functions or responsibilities under this agreement to someone else, we will satisfy ourselves that the person or organisation we delegate to will be competent to carry out those functions and responsibilities.