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Fixed Rate Savings
Fixed Rate Savings is a bond which means you deposit a fixed amount of money for a fixed period (term) at a fixed rate of interest
your savings interest rate will remain fixed for the term
at the end of the fixed term the initial deposit is repaid
interest is paid upon maturity
save between £2,000 and £49,999
you can open as many Fixed Rate Savings as you want to
you must have another first direct account with us, other than an ISA or Regular Saver, and must maintain such an account for the term
once open you can view your Fixed Rate Savings via Internet Banking and manage by telephone
no partial withdrawals are allowed but you can close your bond and withdraw your deposit in full before the end of the term for a fee of £100
this is a tranched product meaning a new bond will be released monthly. Interest rates may vary between issues.