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Fixed Rate Business Bond

Summary box

Account name 1 Year Fixed Rate Business Bond
What is the interest rate?

Account name Maturity date Tier AER/Gross rate (Fixed) Gross per annum (fixed)
Paid annually
1 Year Fixed Rate Business Bond 01/08/18 £5,000+ 0.50% 0.50%

  • 0.50% AER/ Gross (fixed)

  • 1 year Business Bond Gross/ AER (fixed) based on funds deposited on 1 August 2017. Rates correct as at 3 July 2017.

  • Interest is calculated daily and paid annually.

  • Interest is paid on the 1st of the month following opening and then at maturity.

  • Interest will be added to your bond.

  • If the maturity date falls on a Saturday, Sunday or Bank Holiday the maturity will take place on the next working day and an interest rate of 0.10% gross p.a. (variable) will be paid from the maturity date.

Can Santander change the interest rate?

No, the interest rate is fixed during the term. This is detailed in Condition 18 in our General Terms & Conditions.

What would the estimated balance be at the end of the term of the account based on a £5,000 deposit?

Estimate below assumes that the bond is opened and the deposit made on the 1st of the month and interest earned is paid back to the bond.

Account name/term Interest earned Balance at the end of the term of the account.
1 Year Fixed Rate Business Bond £25.00 £5,025.00

This illustration is only an example and doesn't take into account individual circumstances.

At the end of term

  • We'll contact you around 14 days before the bond term ends to tell you your options.
  • The term of the Business Bond is fixed from the day of opening until the stated maturity date.
  • When the term ends (at maturity) the money will be transferred into an account which allows you access to your money in branch or over the phone, unless before the end of the term you tell us otherwise. We will write to you to confirm product details and rates around 14 days before your bond matures.
  • If we don’t hear from you, we’ll transfer your money into an instant access Business Bond Maturity Account, currently paying 0.10% AER/ Gross (variable).

Estimated balance of the Business Bond Maturity Account after 12 months:

Estimate below assumes that the Bond Maturity Account is opened and the deposit made on the 1st of the month, no further deposits or withdrawals are made and interest earned is paid back to the account.

Maturing Bond balance transferring to Business Bond Maturity Account Interest earned Balance after 12 months
Business Bond Maturity Account - £5,025.00 £5.03 £5,030.03

This illustration is only an example and doesn't take into account individual circumstances.

How do I open and manage my account?

To open the account:

  • Your business must be registered in the UK;

  • You must have at least £5,000 to deposit in the account;

  • All directors, owners (shareholders) or partners must be UK residents;

  • All directors, owners (shareholders) or partners must be aged 18 or over;

  • You must be able to leave your funds untouched for the fixed term

  • You must have up to two directors, owners (shareholders) or partners;

  • Your business must operate as a sole trader, partnership, limited liability partnership, private limited company or a trust, or be a not-for-profit organisations such as a club, society or charity.

Opening
You can apply:

  • By calling us on 0800 731 6666. Lines open 8am to 7pm Monday to Friday.

Deposits 

  • Minimum opening balance of £5,000, maximum of £5 million.

  • Once you have made your initial deposit you cannot add additional money to your Business Bond.

  • Please note that there is no right to cancel your Business Bond once we are in receipt of your deposit.

Managing the account

  • By telephone and post
Can I withdraw money?
  • No withdrawals are permitted during the fixed term

Additional information Tax status

  • All interest payments will be paid without tax deducted (gross). If the total amount of interest you receive in any tax year exceeds any Personal Savings Allowance to which you’re entitled, you may have tax to pay at the applicable rate. This would need to be paid directly to HM Revenue & Customs. For more information, please visit gov.uk and search for 'Personal Savings Allowance'
Cancellation

  • There is no right to cancel your Business Bond once we are in receipt of your deposit.

Full Account details can be found in the Key Facts Document on the Terms and Conditions tab

To open these documents you will need to have Adobe Reader. Download Adobe Reader for free.

 

Telephone
For account servicing, call us on 0800 731 6666. Lines open 8am to 9pm Monday to Friday and 8am to 2pm on Saturdays. More on Telephone Banking

Protect yourself from fraud

It’s very important that you keep your banking details private and secure.

  • Never share a Santander One Time Passcode (OTP) with another person. Not even a Santander employee.
  • Never download software or let anyone log on to your computer or devices remotely during or after a cold call.
  • Never enter your Online Banking details after clicking on a link in an email or text message.

For more information about our approach to security as well as more useful information to help you stop the threat of fraud visit our Security Centre.

Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

To view these documents, you may need to download Adobe Reader

Please make sure you read the product terms and conditions, including the product factsheet, before you apply.

You can apply for a Fixed Rate Business Bond if:

  • your business is registered in the UK;

  • you have at least £5,000 to deposit in the account;

  • all directors, owners (shareholders) or partners are UK residents;

  • all directors, owners (shareholders) or partners are aged 18 or over;

  • you are able to leave your funds untouched for the fixed term

  • you have up to two directors, owners (shareholders) or partners;

  • your business operates as a sole trader, partnership, limited liability partnership, private limited company or a trust.

Not-for-profit organisations such as clubs, societies or charities can also apply. Please see our clubs and charities accounts for all other banking and savings needs.

If you have more than two directors, owners (shareholders) or partners or your business entity isn't listed above, please visit Corporate & Commercial Banking.

Please note there is no right to cancel your bond once we are in receipt of your deposit.

Apply by phone
Call us on 0800 023 2016.

Lines open 9am to 5pm Monday to Friday.

Frequently asked questions

AER explained
AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.

Gross rate explained
The gross rate is the interest rate we pay where no income tax has been deducted.

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Santander UK plc. Registered Office: 2 Triton Square, Regent's Place, London, NW1 3AN, United Kingdom. Registered Number 2294747. Registered in England and Wales. www.santander.co.uk. Telephone 0800 389 7000. Calls may be recorded or monitored. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 106054. You can check this on the Financial Services Register by visiting the FCA’s website www.fca.org.uk/register. Santander and the flame logo are registered trademarks.