Specific Terms for Fixed Bond (336) 30.04.2026 - Passbook & Statement
The Saving Accounts Terms and Conditions in force and as updated from time to time and these Specific Terms both apply to this Fixed Bond (336) 30.04.2026 - Passbook & Statement. If there is any inconsistency between the Saving Accounts Terms and Conditions and these Specific Terms, the Specific Terms will apply.
1. Your account
1.1 This account is a Savings Account.
1.2 There is a passbook-based and statement-based version of this account.
1.3 We describe accounts that have passbooks as 'passbook-based'. A passbook-based account may be operated in branch, by post, by telephone or online.
1.4 We describe accounts which do not have passbooks as 'statement-based'. A statement-based account may only be operated by post, by telephone or online. In addition, you may make deposits of cash or cheque into a statement-based account in branch.
2. Account opening
2.1 To apply to open a statement-based account:
(a) you must be at least 16 years old;
(b) there may be no more than two joint account holders.
2.2 For statement-based accounts that are held jointly, we are unable to accept arrangements where both account holders are required to authorise transactions on the account. This means that either account holder can instruct us to make changes on the account and complete transactions.
2.3 If you have a statement-based account and wish to make a withdrawal or close your account (where allowed) by one-off electronic transfer, you must provide us the details of your Named Bank Account when applying. Your Named Bank Account is an account you choose to send money to and/or interest payments. It must be in your name and with us or another UK bank or building society. If you have a joint account, your Named Bank Account can be in either or both of your names.
3. Minimum & maximum balance
3.1 The minimum balance is £1 and the maximum balance is £250,000.
4. Interest
4.1 Until this account matures at the end of 30 April 2026, annual interest will be fixed at 4.10% AER/gross per annum, and monthly interest will be fixed at 4.09% AER (AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year) and 4.02% gross per annum.
4.2 If paid annually, interest will be paid at the end of 30 April each year. If paid monthly, interest will be paid at the end of the last business banking day of each month.
4.3 Annual interest can be added to this account or paid into an account with us which is not an ISA and can accept the interest payment. It can also be paid to another UK bank or building society if it can accept the interest payment. If annual interest is added to this account you will not have access to it until this account matures. If you would like access to your annual interest, you should request that it is paid electronically to another account.
4.4 Annual interest added to this account will not count towards the maximum balance.
4.5 Monthly interest cannot be added to this account, and must be paid electronically into another account with us which is not an ISA and can accept the interest payment. It can also be paid to another UK bank or building society if it can accept the interest payment.
5. Deposits
5.1 Your initial deposit and any subsequent deposits must be made (and received by us) either within 14 calendar days of this account being opened or while the Bond is open to new investors, whichever period is longer. To find out if the Bond is still open to new investors visit us at a branch, telephone our Customer Service Centre, or visit our website. We will not contact you to inform you when the account is no longer available to new investors.
5.2 Deposits can be made by:
(a) cash at a branch;
(b) cheque paid in at a branch or posted to our central processing centre;
(c) transferring money from an account with us; or
(d) making an electronic payment from an account with another UK bank or building society.
5.3 All deposits must be received within the timescales set out in Condition 5.1.
6. Cooling-off period
6.1 A cooling-off period of 14 calendar days applies following the opening of this account. This means that you can withdraw part of your funds or close this account without incurring a charge at any time within 14 calendar days of opening this account. You can do this by calling the Customer Service Centre, visiting a branch or by writing to us at Oakfield House, PO Box 600, Binley, Coventry CV3 9YR.
6.2 If you do not close this account during the cooling-off period, it will continue in accordance with the Saving Accounts Terms and Conditions, in force and as updated from time to time, and these Specific Terms.
7. Withdrawals and closing your account
7.1 After the end of the 14 calendar day cooling-off period (Condition 6.1), withdrawals and closure will not be permitted before this account matures, except in the event of the death of a sole account holder.
7.2 If you have a passbook-based account, any permitted withdrawals or closure can be made by:
(a) making a one-off electronic payment to an account with another UK bank or building society;
(b) transferring your money to an account with us; or
(c) requesting a cheque at a branch or by post from our central processing centre.
7.3 If you have a statement-based account, any permitted withdrawals or closure can be made by:
(a) making a one-off electronic payment to your Named Bank Account;
(b) transferring your money to an account with us; or
(c) requesting a cheque by post from our central processing centre.
8. Maturity
8.1 This account will mature at the end of 30 April 2026. We will contact you in writing at least 14 calendar days before the maturity date with details of your re-investment and withdrawal options.
8.2 Unless you tell us otherwise before maturity, the funds in this account at maturity will automatically be re-invested into another bond ('re-investment bond').
8.3 The duration of the re-investment bond will either be shorter, the same or no more than six months longer than the duration of this account. The withdrawal rights and notice periods that apply to the re-investment bond, where applicable, will be no less favourable than the equivalent conditions of this account.
8.4 Unless you tell us otherwise, the frequency of interest payments for the re-investment bond (i.e. annually or monthly) and the account to which interest is paid will be the same as for this account.
8.5 If you have a statement-based account, your existing Named Bank Account will be registered for the re-investment bond, unless you tell us otherwise.
8.6 You will be able to operate your re-investment bond in the same way as this account.
8.7 If your funds are re-invested into a re-investment bond on maturity, then we will contact you within 7 business days following the maturity date to confirm your re-investment. You will have the option to withdraw from or close your account, in accordance with either Condition 7.2 or 7.3 (whichever Condition is applicable), without incurring any charge, within 21 calendar days following the maturity date.
