Fixed Rate Bond
Rate for 1|2|3 World or Santander Select customers
|Account name/term||Maturity date||Tier||AER/Gross (fixed)||Gross per annum (fixed) - if paid annually||Gross per annum (fixed) - if paid monthly|
|1 Year Fixed Rate Bond/12 months||01/06/2021||£500+||0.35%||0.35%||0.35%|
Interest is calculated daily and can be paid annually or monthly. Once the frequency has been chosen (annual or monthly interest), this can’t be changed.
Paid on 1st of the month following account opening and annually thereafter, including on maturity. Interest can be paid back into your bond or into another Santander or external account.
Paid on 1st of the month following account opening and on the 1st of each month thereafter. Interest can be paid into another Santander or external account but not back into your bond.
AER is based on funds deposited by 1 June 2020. If you deposit funds after 1 June 2020, the interest you receive may be less than the advertised AER.
No, the interest rate is fixed during the term.
Estimated balance for 1|2|3 World or Santander Select customers
|Account name/term||Interest earned||Balance at the end of the term of the account|
|1 Year Fixed Rate Bond/ 12 months||£3.50||£1,003.50|
Estimates assume that the account is opened and deposit is made on the 1st of the month, interest is paid annually and back into account.
At the end of term
We’ll contact you around 14 days before the bond term ends to tell you your options. If we don’t hear from you we’ll transfer your money into a 12 month term, Fixed Rate Reward Bond currently paying 0.15% AER/Gross (fixed), with a 0.10% AER/Gross (fixed) bonus at maturity if the account remains open.
Interest is calculated daily and paid at the end of the 12 month term, unless the account is closed earlier. The bonus payment will be calculated for a 12 month term, if you close your account before the term ends you will not be eligible for the bonus.
You can close the account at any time in branch or telephone; no partial withdrawals are permitted.
Estimated balance of the Fixed Rate reward Bond after 12 months:
Maturing account name for 1|2|3 World or Santander Select customers
|Maturing account balance transferring to Fixed Rate Reward Bond||Interest earned||Fixed Rate Reward Bond balance after 12 months|
|1 Year Fixed Rate Bond - £1,003.50||£2.51||£1,006.01|
Estimates assume account remains open for a 12 month term, no further deposits or withdrawals made, interest is paid into the account and includes bonus payment.
These illustrations are only examples and don’t take into account individual circumstances.
To open the account you must be:
- a UK resident; and
- Aged 16 or over.
Two or more people (up to four) may hold a bond in joint names. This account may be opened in trust. For accounts opened in trust for children aged under 13, the trustee must be a UK resident, aged 18 or over and have parental responsibility for the child.
To be eligible for this product you must be a 1|2|3 World or a Santander Select customer at point of opening. For joint accounts, at least one person must be either a 1|2|3 World or a Santander Select customer.
- Online and Mobile.
- Visit any Santander branch.
Minimum opening and account balance of £500, maximum of £2 million. Further additions to the initial deposit aren’t allowed.
Manage the account
- Branch and telephone. View only in Online and Mobile Banking.
- A certificate will be issued after account opening.
- You’ll get details of your interest paid each year in April/May.
No, withdrawals and closures aren’t permitted during the fixed term.
There is no cancellation period on this account.
Subject to availability and may be withdrawn without notice. Rates and information correct as at 4 May 2020.