Fixed Rate Savings
Lock away a lump sum for one year
Lock a fixed lump sum away for a fixed term of one year at a fixed rate and you'll receive between 0.50% AER/gross and 0.60% AER/gross depending on how much you save... fixed term. Deposit matures on 30 January 2018.
- save a one-off lump sum between £2,000 and £1 million
- fixed interest rates depending on your deposit
- know exactly how much interest you'll earn over the fixed term
- you can have more than one Fixed Rate Savings account per person. New bonds are released every month and interest rates may vary between them
- no partial withdrawals allowed, and no additional deposits
- you'll be charged £100 if you take your money out before the end of the fixed term and depending on when you do this, you could get back less than originally paid in.
AER stands for Annual Equivalent Rate. This shows you what the rate would be if interest were paid and compounded each year.
Gross is the rate of interest if interest were paid and not compounded each year.
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Offset your savings
You can use a lump sum to reduce the interest on an Offset Mortgage, and you could save more money than the interest you'd earn in a savings account.
Your home may be repossessed if you do not keep up repayments on your mortgage.