Two Year Monthly Income Bond

Two Year Fixed Rate Monthly Income Bond

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

Rate effective from 6 March 2024.

Monthly Interest is calculated each day on the available money in your account and is paid on the last day every month.

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.

Projection based on monthly interest being paid into your account

Projection of average monthly interest if being paid away to your nominated bank account or another account with us

Monthly interest payment will change depending on the number of days in the month.

Your projected balance will be £1,000 at the end of the term if your interest is paid away each month.

• 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 maximum amount you can pay into this account is £2,000,000.00.
• 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.
• Interest can be added to your balance or transferred monthly to your nominated bank account or another account with us

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 Maturity Easy Access 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.