- Home
- > Savings
- > Compare accounts
- > Fixed Rate Bond
Fixed Rate Bond
Current rates & key features
| Term | Interest rates (gross/AER fixed) effective from 0.00am on 1 May 2012 |
|---|---|
| 6 months | 1.00% |
| 1 year | 2.40% |
| 2 years | 3.50% |
| 3 years | 3.60% |
- Fixed terms available for 6 months, 1, 2 or 3 years
- Fixed rate of interest so you know exactly how much you’ll earn
- Minimum balance of £2,000
- Choose interest paid either monthly at a lower rate, to supplement your income, or annually, to boost your savings, for 1, 2 and 3 year terms
- Interest paid monthly or on maturity for 6 month terms
- Check your balance online and over the phone.
There are no withdrawals permitted from our Fixed Rate Bond, though early closure is allowed. However, closing your account before the end of the term will result in loss of interest and you may get back less than the original amount you deposited. For more information view the Summary Box.
Apply online for a Fixed Rate Bond
Summary box
| Account name | Fixed Rate Bond |
|---|---|
| Interest rates (AERs) | Fixed. Paid monthly or annually on terms of 2 years and more. Paid monthly or on maturity for 6 month and 1 year terms. |
| Tax status | Interest is paid net of income tax (currently 20%) unless you register your account with us to receive gross interest. |
| Conditions for bonus payment | Not applicable |
| Withdrawal arrangements |
No withdrawals permitted, by closure only. Closing your account before the end of the term will result in loss of gross interest as shown below and you may get back less than the original amount you deposited: 6 months term = 60 days, |
| Access | Online (view only), branch & telephone. |
Apply online for a Fixed Rate Bond
Additional information
- Maturity of term - we'll write to you before your account matures to ask what you'd like us to do with your money
- Account term - this will start on the date you open your account (unless that is not a working day) even if you do not pay anything in on that day. We must receive your opening deposit within 10 days of you opening your account
- Eligibility - UK resident personal customers aged 16+. If you are a non-UK resident and wish to find out about the savings products that may be available to you, please call the International Banking team on 0800 876 6555 (or +44 207 451 6212 if calling from abroad). Lines are open Mon-Fri 8am - 6pm and Sat 9:30am - 1.30pm UK local time.
- Account conditions (opens as PDF)
- We are a member of the Financial Services Compensation Scheme so our customers' savings are protected (up to £85,000).
Apply online for a Fixed Rate Bond
Apply
Before you begin make sure you have the following details to hand:
- Your Bank of Scotland account details (if you are an existing customer)
- Previous address details if you have lived at your current address for less than 3 years
| Term | ||
|---|---|---|
| 6 months | |
Use Internet Banking? Log in for a quicker application.
|
| 1 year | |
|
| 2 years | |
|
| 3 years | |
|
How to fund your account with an opening credit
There are 3 convenient ways you can fund your account:
- Over the counter at any Bank of Scotland branch
- A money transfer from Bank of Scotland or another financial institution. (You will need to quote your new account details. External bank payments are only accepted via BACS).
- By posting us a cheque to the following address:
Bank of Scotland, PO Box 548, LEEDS, LS1 1WU
Please make your cheque payable to the account holders name and include your new account details on the reverse.
Please note all deposits and transfers must be credited to your account within 10 days of account opening.
Please note: Rates of interest are subject to change, to check effective dates for all our Savings products please see our Interest Rates section.
For a definition of AER, Gross and other terms please view our savings glossary.