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Fixed Rate Savings Bond interest rates

Current interest rates

1-Year Fixed-Rate Bond - Issue 102 rates are effective from 17 May 2022.

Balance

Gross rate per year %

AER %

End of term

£500 to £1 million

0.60

0.60

Monthly

£500 to £1 million

0.60

0.60

The product is available in branch, through premier, over the telephone and online.

Further information

Mortgage offset

No

Interest rate

Rates are fixed for the term of the bond.

Gross

The rate of interest payable without tax taken off.

Tax

Interest is paid gross. If you’re a UK taxpayer, you may have to pay tax on interest earned in excess of your Personal Savings Allowance.

For information and guidance please refer to the HMRC website.

Please note, it’s your responsibility to ensure that any tax due on interest payments received is paid to the appropriate tax authority. If you choose end of term interest, you will receive all of your interest in one tax year. This means you could reach or exceed your Personal Savings Allowance more quickly in that tax year. Tax liability on interest applies in the tax year it is paid, which may be different to the tax year(s) in which interest has accrued.

AER

Annual Equivalent Rate. This illustrates what the interest rate would be if interest was paid and compounded once each year.

For additional information, download our Fixed Rate Savings Bonds terms and conditions [PDF, 141KB].

Read important information about our interest rates, the Financial Services Compensation Scheme, and your cancellation rights.