1 Year Fixed Rate Bond
- 0.40% AER* /gross** fixed rate interest for 1 year
Things to keep in mind
- Minimum opening balance £500, no additional deposits, withdrawals or account closures permitted during the fixed term
cahoot Fixed Rate Bond
|Account name/term||Maturity date||Tier||AER/Gross (fixed)||Gross per annum (fixed) If paid annually||Gross per annum (fixed) If paid monthly|
|1 Year cahoot Fixed Rate Bond/12 months||1 Year/12 months after account opened||£500+||0.40%||0.40%||0.40%|
Interest is calculated daily and can be paid annually or monthly. Once the frequency has been chosen (annual or monthly interest), this can’t be changed.
Interest can be paid back into the your bond or into another cahoot or external account. Interest will be paid annually on the anniversary of the date you opened the account.
Interest can be paid back into another cahoot or external account but not back into your bond. Interest will be paid monthly on the date you opened the account.
We'll pay the final interest payment to your account on the date it matures. If any interest payment date is on a Sunday, we'll pay that interest payment to your account on Monday (with the final interest payment available for withdrawal on Tuesday).
AER is based on funds deposited on the day the account is opened. If you deposit funds after the day the account is opened, the interest you receive may be less than the advertised AER.
No, the interest rate is fixed during the term.
|Account name/term||Interest earned||Balance at the end of the term of the account|
|1 year cahoot Fixed rate Bond/12 months||£4.00||£1,004.00|
- The account is opened, and deposit is made on the day the account is opened with an opening balance of £1,000
- Interest is paid annually and back into the account
These illustrations are only an example and don’t take into account individual circumstances.
- Be a UK resident; and
- Be aged 18 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
- The account can be opened in single or joint names
- You need to open the account with a minimum opening balance of £500, maximum £2 million.
- When you’ve opened 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
- No further deposits are allowed after the 14 days.
You can manage the account in Online Banking.
You can’t withdraw or close the account during the fixed term.
- We’ll contact you around 14 days before the bond term ends to tell what to do next.
- If we don’t hear from you we’ll transfer your money into the cahoot Savings Account currently paying 0.65% AER/gross (variable). From 7 July 2020, the cahoot Savings account will pay 0.01% AER/gross (variable).
- Interest is calculated daily and paid annually or monthly depending on what you chose for your bond.
- You can withdraw money or close the cahoot Savings Account at any time through cahoot.com
- There’s no cancellation period on this account
- Subject to availability and may be withdrawn without notice. Rates and information correct as at 2 June 2020.
*AER stands for Annual Equivalent Rate and shows what the interest rate would be if we paid interest and added it to your account each year.
**The gross rate is the interest rate we pay where no income tax has been deducted.
Interest is calculated daily and can be paid annually or monthly.