2 Year Fixed Rate Bond

What you’ll get

  • 1.30% AER* /gross** fixed rate interest for 2 years

Things to keep in mind

  • Minimum opening balance £500, no additional deposits, withdrawals or account closures permitted during the fixed term

Summary box

cahoot Fixed Rate Bond

Interest rate

Account name/term Maturity date Tier AER/Gross (fixed) Gross per annum (fixed) - If paid annually Gross per annum (fixed) - If paid monthly
2 Year cahoot Fixed Rate Bond/24 months 2 Year/24 months after account opened £500+ 1.30% 1.30% 1.29%

 

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.

 

Annual interest

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.

 

Monthly interest

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.

Estimated balance for cahoot fixed rate bonds

Account name/term Interest earned Balance at the end of the term of the account
2 year cahoot Fixed rate Bond/24months £26.17 £1,026.17

 

Estimates assume:

  • 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.

To open the account you must:

  • 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.

How to pay into the account

  • 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.

Manage the account

You can manage the account in Online Banking.

 

You can’t withdraw or close the account during the fixed term.

At the end of the 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).
  • 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

Estimated balance of the cahoot Savings Account after 12 months:

Maturing account balance transferring to cahoot Savings Account Interest earned cahoot Savings Account balance after 12 months
2 Year cahoot Fixed Rate Bond - £1,026.17 £6.67 £1,032.84

 

Estimates assume:

  • Account remains open for 12 months
  • No further deposits or withdrawals are made and interest is paid into the account

These illustrations are only an example and don’t take into account individual circumstances.

  • There’s no cancellation period on this account
  • Subject to availability and may be withdrawn without notice. Rates and information correct as at 4 June 2019.

*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.

Key Information

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.