2 Year Fixed Rate Bond
- 5.30% 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
When your bond matures, we’ll transfer your money into a cahoot Savings Account. You can access your funds from this account via Online Banking or over the phone.
Summary box
cahoot Fixed Rate Bond
| Account name/term | Maturity date | Tier | If interest is paid annually | If interest is paid monthly |
|---|---|---|---|---|
| 2 Year cahoot Fixed Rate Bond/24 months | 2 Year/24 months after account opened | £500+ | 5.30% AER*/gross** (fixed) for 24 months from account opening | 5.18% gross** (fixed) for 24 months from account opening |
Interest is calculated daily and can be paid annually or monthly. Once you’ve chosen to get either annual or monthly interest, this can’t be changed.
Interest can be paid back into 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 or a public holiday, 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 get 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 |
|---|---|---|
| 2 year cahoot Fixed rate Bond/24 months | £108.81 | £1,108.81 |
- 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.
- 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.
On maturity, we’ll transfer your money into a cahoot Savings Account. You can access your funds from a cahoot Savings Account at any time via Online Banking or over the phone. We’ll contact you with more details, together with your new interest rate, closer to your maturity.
- 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 20 November 2023.
*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.