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Fixed Rate Bonds

Earn a higher interest rate by locking your money away

You may want to consider this account if you:

  • Don't need access to your savings for 1, 2, or 3 years
  • Have £1,000.00 or more to deposit
  • Want a fixed interest rate

You may want to consider our other accounts if you:

  • May need access to your money, especially in case of emergencies
  • Want to make further deposits to build your savings
  • Haven't used your current tax years ISA allowance
1 year Fixed Rate Bond - issue 260
0.65% Gross/AER
2 year Fixed Rate Bond - issue 121
0.75% Gross/AER
3 year Fixed Rate Bond - issue 81
0.90% Gross/AER

Up to £85,000 of your money will be protected by the FSCS too.

Britannia - part of The co-operative bank

Summary box

Account name

Britannia Fixed Rate Bond

What is the interest rate?

Annual Gross/AER Monthly Gross Monthly
AER
1 year Fixed Rate Bond - issue 260 0.65% 0.64% 0.64%
2 year Fixed Rate Bond - issue 121 0.75% 0.74% 0.74%
3 year Fixed Rate Bond - issue 81 0.90% 0.89% 0.89%

Interest is calculated daily. It can either be paid to you annually or monthly. Once you've chosen this you can't change your mind during the term.

If you're paid your interest annually you'll receive it on the first Business Day after each anniversary.

If you're paid your interest monthly you'll receive it on the first Business Day of the following month. So, for example, you'd get January's interest on the first Business Day in February.

Where can my interest be paid to?

Annual interest can either be paid into this account or another account of your choice (either with us or another provider).

Monthly interest will be paid to another account of your choice (either with us or another provider) but your final month's payment will be added to this account.

Can Britannia change the interest rate?

No, the interest rate is fixed. It won't change until the account matures.

What would the estimated balance be at the end of the fixed term, based on a £1,000 deposit?

Initial Deposit Balance at end of fixed term
1 year Fixed Rate Bond - issue 260 £1,000.00 £1,006.50
2 year Fixed Rate Bond - issue 121 £1,000.00 £1,015.05
3 year Fixed Rate Bond - issue 81 £1,000.00 £1,027.24

We have worked these out assuming:

  • You've chosen to receive your interest annually.
  • You've chosen to add your interest to the account.

How do I open and manage my account?

Can I apply for this account?

To apply, you must be a UK resident.

It can be opened as a sole or joint account.

It can also be opened on behalf of someone else, such as a child.

How do I apply for this account?

You can apply:

  • Online
  • Over the phone
  • In branch

Is there a minimum and a maximum balance?

You need at least £1,000.00 to open this account. The maximum amount you can deposit in it is £1,000,000.

You’ve got 14 days from when we open your account, to pay in the minimum balance of £1,000.00. You can do this in one lump sum or through multiple payments. If after 14 days you haven’t met the minimum balance, we’ll close the account immediately and return any funds to you.

How do I make deposits into this account?

You can pay your initial deposit(s) into this account by cash, cheque or transfer from another account held with us or another provider.

No further deposits are allowed after the 14 days from account opening, but you can have more than one Fixed Rate Bond.

How do I contact you to discuss this?

By telephone or visiting a branch

Can I withdraw money?

No - You can't make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds.

At the end of the fixed term, your account matures and your money will be put into a variable rate instant access account - unless you provide us with other maturity instructions. We'll send you a letter when your fixed term is coming to an end. It'll remind you of your maturity date and let you know what options are available to you (such as re-investing or withdrawing).

On maturity, you can access your money in branch or by post.

Additional information

This is a limited issue product and may be withdrawn without notice at any time.

Interest earned from this account will count towards any of your available personal savings allowance.

We will pay interest without deducting income tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay income tax, we recommend that you contact your local tax office or HM Revenue & Customs or visit gov.uk/hmrc/savingsallowance. For more information about children's savings, visit gov.uk/savings-for-children.

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.

Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

AER - Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Business Day - A Business Day is usually Monday to Friday (excluding bank holidays).

Eligibility

  • A UK resident.
  • Have £1,000 or more for an initial deposit.

Approval is based on an assessment of your personal circumstances.

Ready to apply?

Before you do

We recommend that you read the important documents below – including our Terms and Conditions - and save copies of them for future reference. All the information you’ve read so far (e.g. features, eligibility) can be found in them.

Please note: our Terms and Conditions are changing with effect from the 13th January 2018. Please see the attached Britannia Savings Summary of Changes document which explains what we're changing and why.

Product Specific Terms and Conditions & Summary Box (which contains interest rates)

Download Product Specific Terms and Conditions & Summary Box (which contains interest rates) PDF (1.35MB)

Summary of changes to our Britannia Savings Terms and Conditions with effect from 13th January 2018.

Download Summary of changes to our Britannia Savings Terms and Conditions with effect from 13th January 2018. PDF (114KB)

Britannia General terms & conditions

Download Britannia General terms & conditions PDF (979KB)

Managing your Britannia Savings account (including Charges)

Download Managing your Britannia Savings account (including Charges) PDF (1.42MB)

How we use your personal information

Download How we use your personal information PDF (290KB)

The Financial Services Compensation Scheme Information Sheet and Exclusion List

Download The Financial Services Compensation Scheme Information Sheet and Exclusion List PDF (3.5MB)

Please select your Fixed Rate Bond:

How would you like your interest to be paid?

Apply Now

Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.

smile, The Co-operative Bank and Britannia are trading names of The Co-operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).