Fixed Term Bonds come with
Fixed rate of 4.05% AER / 3.98% Gross for 1 year if you're a Santander Select or Private Banking customer
Fixed rate of 3.65% AER / 3.59% Gross for 2 years if you're a Santander Select or Private Banking customer
Fixed rate of 3.45% AER / 3.40% 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 | 02/06/2025 | £500+ | 4.00% | 4.00% | 3.93% |
2 Year Fixed Rate Bond/ 24 months | 01/06/2026 | £500+ | 3.60% | 3.60% | 3.54% |
3 Year Fixed Rate Bond/ 36 months | 01/06/2027 | £500+ | 3.40% | 3.40% | 3.35% |
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 | 02/06/2025 | £500+ | 4.05% | 4.05% | 3.98% |
2 Year Fixed Rate Bond/ 24 months | 01/06/2026 | £500+ | 3.65% | 3.65% | 3.59% |
3 Year Fixed Rate Bond/ 36 months | 01/06/2027 | £500+ | 3.45% | 3.45% | 3.40% |
The interest rate we pay depends on:
- the length of term
- whether we pay interest yearly or monthly, and
- what other accounts you have with us at the time you open the bond.
You can also see the interest rate and term on your bond certificate. We’ll give this to you after you’ve opened the bond.
We work out the interest we’ll pay on your account each day. You can choose whether you want us to pay interest monthly or yearly. Once you’ve chosen, you can’t change your mind.
We’ll give you details of any interest paid in April/May each year.
Santander Select and Private Banking Customers
If you have a joint bond, at least one of you will need to be a Santander Select or Private Banking customer for these rates to apply. The rate applies to the bond, so every joint account holder will then qualify for these rates. This means every account holder will be aware one or more of you are Santander Select or Private Banking customers.
Annual interest
Paid on first 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 first of the month following account opening and on the first 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 2024. If you deposit funds after 1 June 2024, 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 | £40.00 | £1,040.00 |
2 Year Fixed Rate Bond/ 24 months | £73.30 | £1,073.30 |
3 Year Fixed Rate Bond/ 36 months | £105.51 | £1,105.51 |
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 | £40.50 | £1,040.50 |
2 Year Fixed Rate Bond/ 24 months | £74.33 | £1,074.33 |
3 Year Fixed Rate Bond/ 36 months | £107.11 | £1,107.11 |
To work out the estimated balance, we’ve assumed that:
- The account is opened and the initial payment is made on the first day of the month.
- You don’t pay in any more money or take any out.
- We pay interest yearly back into the account.
This illustration is only an example and doesn’t take into account your individual circumstances.
How do I open and manage my account?
Eligibility
You can have this account if you’re 16 or over and live in the UK. This account can be opened in trust for someone else. If the beneficiary is a child under the age of 13, the trustee must have parental responsibility for the child. You can have a bond in your sole name or jointly (with up to three other people).
To be eligible for the higher interest rate, you must be a Santander Select, or Private Banking customer when opening the account.
How to open the account
You can apply for an account in a branch or online.
Managing the account
You can manage the bond in a branch or by using Telephone Banking. You can view your bond in Online or Mobile Banking.
Paying money in
- Minimum balance: £500
- Maximum balance: £2 million
Once you’ve paid money in to open the bond, you can’t pay in any more.
Can I withdraw money?
As the bond is for a ‘fixed’ term, you can’t take money out during the term.
At the end of the term
You can choose what you want to do with the money in your bond up to one month before the term ends. We’ll contact you with more details on your options, including your new interest rate, before the term ends. If we don’t hear from you, we’ll transfer your account to a Fixed Rate Reward Bond.
Additional information
Tell us if you change your mind
You can’t cancel the bond once it’s been opened. But, in exceptional circumstances (for example, if one of the account holders dies), we may allow you to close the bond before the end of the term.
Tax status
We pay interest without taking off income tax. This is known as ‘gross’ and the interest rate we give you reflects this. If the total interest you receive in a tax year is more than any Personal Savings Allowance that applies to you, you may have to pay tax on it. You’ll need to do this directly with HMRC.
Subject to availability and may be withdrawn without notice. Rates and information correct as at 2 May 2024.
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
Telephone Banking
Online and Mobile Banking
with text and emails alerts
Access to the Santander branch network