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A bond is an account for savers

In exchange for locking away your money for a fixed time, you’ll earn a higher rate of interest than we pay on our easy access accounts.

With a bond, withdrawals aren’t usually allowed so you need to be certain you won’t need access to your savings for a while.

The rate is usually fixed for the agreed term, so you’ll know exactly the rate you'll be earning.

You might also want to consider a fixed rate ISA – it’s an ISA bond so all the interest you earn is tax-free. With an ISA, your money isn’t locked away – you can move all of your savings to another account or close your account and get access to your money if you wish, however there will be a change to do this.

More about ISAs

Paying into your bond

You must pay into your fixed term bond within 14 days of us opening the account or while the account is still open to new investors, whichever is longer. This is the ‘deposit window’. 

How to pay into your bond

Bonds are ‘no access’

You can’t usually take money out during the ‘term’ of a bond, or there might be a charge to do this. We usually offer bonds for terms from one to five years. Only choose a fixed bond if you can afford to put away your savings and not touch them for the term. 

The interest rate won’t change

If your money’s in an account where we’ve ‘fixed’ the interest rate, even if the Bank of England Base Rate changes and/or interest rates change generally, we’ll still pay you the same rate. This gives you peace of mind – you’ll know exactly the rate you'll be earning.