Fixed Term Bonds come with
Fixed rate of 5.25% AER / 5.13% Gross for 1 year if you're a Santander Select or Private Banking customer
Fixed rate of 5.00% AER / 4.89% Gross for 2 years if you're a Santander Select or Private Banking customer
Fixed rate of 4.80% AER / 4.70% Gross for 3 years if you're a Santander Select or Private Banking customer
How it works
You’re a UK resident aged 16 or over
No additional deposits, withdrawals or account closures permitted.
Account details
Account name
Fixed Rate Bond
What is the interest rate?
| Account name/term | Maturity date | Tier | AER/Gross | Gross per annum (fixed) - if paid annually | Gross per annum (fixed) - if paid monthly |
|---|---|---|---|---|---|
1 Year Fixed Rate Bond/ 12 months | 02/12/2024 | £500+ | 5.05% | 5.05% | 4.94% |
2 Year Fixed Rate Bond/ 24 months | 01/12/2025 | £500+ | 4.95% | 4.95% | 4.84% |
3 Year Fixed Rate Bond/ 36 months | 01/12/2026 | £500+ | 4.60% | 4.60% | 4.51% |
Rate for Santander Select, or Private Banking customers
| Account name/term | Maturity date | Tier | AER/Gross | Gross per annum (fixed) - if paid annually | Gross per annum (fixed) - if paid monthly |
|---|---|---|---|---|---|
1 Year Fixed Rate Bond/ 12 months | 02/12/2024 | £500+ | 5.25% | 5.25% | 5.13% |
2 Year Fixed Rate Bond/ 24 months | 01/12/2025 | £500+ | 5.00% | 5.00% | 4.89% |
3 Year Fixed Rate Bond/ 36 months | 01/12/2026 | £500+ | 4.80% | 4.80% | 4.70% |
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.
Annual interest
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.
Monthly interest
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 December 2023. If you deposit funds after 1 December 2023, the interest you receive may be less than the advertised AER.
Can Santander change the interest rate?
No, the interest rate is fixed during the term.
What would the estimated balance be after 12, 24 and 36 months, based on a £1,000 deposit?
| Account name/term | Interest earned | Balance at the end of the term of the account |
|---|---|---|
1 Year Fixed Rate Bond/ 12 months | £50.50 | £1,050.50 |
2 Year Fixed Rate Bond/ 24 months | £101.45 | £1,101.45 |
3 Year Fixed Rate Bond/ 36 months | £144.45 | £1,144.45 |
Estimated balance for Santander Select, or Private Banking customers
| Account name/term | Interest earned | Balance at the end of the term of the account |
|---|---|---|
1 Year Fixed Rate Bond/ 12 months | £52.50 | £1,052.50 |
2 Year Fixed Rate Bond/ 24 months | £102.50 | £1,102.50 |
3 Year Fixed Rate Bond/ 36 months | £151.02 | £1,151.02 |
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
You can choose your maturity options at least 28 days before the account matures.
To do this, call us or visit us in branch. You can’t do this online.
If we don’t hear from you, we’ll transfer your account to a Fixed Rate Reward Bond. You can close this at any time over the phone or in branch.
We’ll get in touch with you closer to your maturity date with more details about your options and the new interest rate.
How do I open and manage my account?
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 the higher interest rate you must be a Santander Select or Private Banking customers at point of opening. For joint accounts, at least one person must be either a Santander Select, or Private Banking customers.
Opening
- Online and Mobile.
- Visit any Santander branch.
Deposits
Once your bond is open, you can fund it by sending us a cheque in the post. You can’t fund your bond in Online or Mobile Banking.
Minimum opening and account balance of £500, maximum balance at any time is £2 million. Further additions to the initial deposit aren’t allowed.
Manage the account
- Once you’ve funded the bond, you’ll be able to see it in Mobile and Online Banking. However, you won’t be able to make any transactions until the bond matures.
- You’ll be issued a certificate once the account opens.
- You’ll get details of your interest paid each year in April/May.
Can I withdraw money?
No, withdrawals and closures aren’t permitted during the fixed term.
Additional information
There is no cancellation period on this account.
Subject to availability and may be withdrawn without notice. Rates and information correct as at 2 November 2023.
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
This account also comes with
with text and emails alerts