Fixed Rate Bond - Issue 72
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6.24% AER Fixed Rate Bond until 12th May 2009 - Issue 72 |
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Min amount to open account |
Investment Amount |
Gross (%) |
AER (%) |
Net (%) |
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£1,000 |
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6.15 |
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4.92 |
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Apply Now - Fixed Rate Bond Issue 72 |
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Rates effective from 31st October 2008
Features
- The fixed rate bond is a limited issue, and we expect high demand.
- Guaranteed return of your investment on maturity.
- You are able to make additional investments into the account up to the overall limit of £500,000 but only whilst this issue remains open.
- Gross interest available to eligible non-taxpayers.
- You will need a minimum balance of £1,000 to keep your account open and add to the account, up to a maximum investment limit of £500,000, but only whilst the issue is still available.
Age restriction:
Restrictions on deposits:
Withdrawals:
- Withdrawals subject to 90 day gross interest charge.
- If insufficient interest has accrued to cover the loss, adjustment made to capital balance.
- Withdrawals up to £500 in cash or cheques for any amount up to the maximum balance of the account can be arranged if your account is held with your local branch.
- Postal accounts will have the funds transferred direct to your bank or building society account via BACS (Bank Automated Clearing System).
- Please note that the cooling off period does not apply to this bond.
Interest:
- Interest rates on this account are fixed.
- Interest is calculated on a daily basis and will be credited on maturity at midnight on 12th May 2009.
- Interest will be added to the closing balance on maturity of the bond.
Tax:
- Interest will be paid or credited after deduction of income tax at the appropriate rate
- Non-taxpayers must first complete the appropriate HM Revenue & Customs declaration (R85) (Please contact your local Tax Office if you are unsure about your eligibility for tax-free interest)
How do I open a Fixed Rate Bond?
Summary of account:
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Summary Box
Key Product Information for our Fixed Rate Bond - Issue 72 |
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Account name |
Fixed Rate Bond - Issue 72 |
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Interest rates (AERs) |
Current rates are listed above. |
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Tax status |
Gross or net of income tax |
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Conditions for bonus payment |
No bonus. |
| Withdrawal arrangements |
Subject to 90 days gross interest charge on the amount withdrawn. |
| Access |
Branch, agency, telephone or post. |
Net rates assume the lower rate of income tax of 20%. These figures are rounded and are for illustrative purposes only.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if the interest was paid and compounded each year.
GROSS: The gross contractual rate of interest before the deduction of tax at the appropriate rate specified by law. Interest will be paid gross to non-taxpayers subject to the required HM Revenue & Customs certification (R85).