The interest rate is fixed until 30 April 2027.

We calculate the interest daily and pay it annually (either into this account or to another suitable account) at the end of 30 April or monthly (to another suitable account only), at the end of the last day of each month.

£1,128.57

This would be the balance after 37 months if £1,000 was paid in on 1 April 2024, all interest was paid back into the account, and no money was taken out or paid in. 

This illustration is just an example to help you compare accounts. It does not take into account any individual circumstances.

How to open and manage

• Online
• Call 0800 121 8899
• By post
• Pop into a branch
• You must be aged 16 or over to have a statement-based version of this account

How to put money into your account

This is a limited issue account and you have a limited time to pay in.

You need to make sure we’ve received the money you’re using to open the account, and any other money you want to put in the account, either within 14 calendar days of your account being opened or while the account is open to new investors, whichever period is longer.

• Pay in cash or cheques in a branch
• Post us a cheque
• Set up transfers from an account with another bank or building society or another account with us. To do this you will need the last 8 digits of your account number and sort code 40-63-01
• The minimum balance is £1
• The maximum balance is £250,000

After you’ve opened the account, we won’t contact you to let you know when it closes to new investors. To find out if it’s still available, please contact us.

How to keep track of your account

If you choose not to have a passbook, we’ll issue you with a statement within a month of any money leaving your account. But don’t worry, we’ll never send you more than one statement a month.

If you choose to have a passbook and keep it updated, this will be your record of all transactions instead of a statement. If your passbook isn’t updated, we’ll issue you with a statement within a month of any money leaving your account.

You can receive your statements by post. Or, if you use Online Services, you can go paperless and we’ll send you reminders to view your statements.

This is a no access account. After the 14 day ‘cooling off period’, you can’t make withdrawals (including any interest paid into the account) or close the account before 30 April 2027.

What happens when the bond’s fixed period ends (matures)

This Fixed Bond (338) will mature at the end of 30 April 2027.

We’ll write to you at least 14 days before the account matures with details of how you can re-invest your savings with us, or take out some or all of your money. There’ll be a default option - another bond with us. The length of the fixed bond will either be shorter, the same or no more than six months longer than the duration of your current bond, and options to take money out will be no more restrictive than the options offered by your original account.

At maturity, the money in this account will be automatically re-invested into the default option unless you have asked us to do something else with it. However, you’ll have the option to close your new bond, without being charged, within 21 days after the end of your fixed period.

We pay your interest gross. The gross rate is the interest payable before the deduction of tax.

* AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added each year.