1 Year Fixed Rate Bond

Interest rate

We calculate interest daily and pay it annually or monthly. You can decide to have your interest paid monthly or annually. Once decided, you can't change this.

Annual interest

You can choose to pay interest into your bond, or elsewhere. This can be another cahoot or external account. We will pay interest each year on the date you opened the account.

Monthly interest

You can choose to pay interest into another cahoot account. Or you can choose to pay interest into an external account. We cannot pay interest back into your bond. We will pay interest each month on the date you opened the account.

We'll pay the final interest payment to your account on the date it matures. If your interest is due on a non-working day, we may pay you the next available working day. Your account balance including interest will then be available for withdrawal on the following working day.

AER is based on funds deposited on the day you open the account. If you deposit funds later than this, you may receive less interest than advertised.

Estimated balance for cahoot fixed rate bonds

Estimates assume

• You open the account and deposit £1,000 that same day.

• We pay interest annually and back into this account.

   

To open the account you must:

• Be a UK resident.
• Be 18 years old or over.
• Be registered or will register for online banking.
• Provide us with a valid email address. We’ll use this to let you know when we have sent you an e-Document.
• You can open the account in single or joint names.
• You need to open the account with a minimum opening balance of £500. The maximum you can pay in is £2 million.

How to pay into the account

• We’ll send you a sort code and account number you can use to pay in.
• You’ll need to use your details to make an online transfer into the new account within 14 days of opening.
• Within those 14 days, you can make as many deposits as you like.
• You cannot make further deposits after the 14 days.

Manage the account

You can manage the account on Online Banking.

This is a paper free account, which means:

• Your documents, statements and letters will be sent as e-Documents to your secure inbox on online banking (unless you notify us that you require documents in an alternative format, such as braille).
• You can update your account settings at any time to receive statements and other documents by post.

At the end of the term

The term of the account is 12 months. On maturity, we’ll transfer your money into a cahoot Savings Account. We’ll get in touch with more details, closer to your maturity date. This will include your new interest rate.