One Year Fixed Rate Savings Bond
Limited offer may be withdrawn at any time
2.75%* gross/AER fixed
On balances of £10,000+
- Specific Terms and Conditions – One Year Savings Bond
- Please see below for the specific Terms and Conditions that apply to our One Year Savings Bond when you are applying online. In addition to the information provided on each account our Savings Account General Conditions and Services with Security Features, will also apply to any contract between you and us for these products. These specific Terms and Conditions relate to our Bonds.
- 1. Eligibility
- To be eligible for the One Year Savings Bond, you must be aged 16 or over and invest a minimum of £1. Further additions to the initial deposit
are not permitted.
- 2. Maximum deposit
- The maximum deposit is £2,000,000 (2 million).
- 3. Joint Bonds
- Two or more of you (up to a maximum of four) may hold a One Year Savings Bond in joint names. If you are applying online a maximum of two people can apply for a One Year Savings Bond in joint names. If more than two of you want to apply for a One Year Savings Bond, please call 0800 032 4600. If you hold a Bond in joint names, you are liable (individually and together) for any money due to us and all of you must sign to operate the One Year Savings Bond unless you all authorise us in writing that we can accept fewer signatures. Any of you may at a later date revoke this authority in writing. The 'Sharing your finances' leaflet, covers the implications of taking out a joint account.
- 4. Interest payment
- You can choose whether you want your interest paying annually or monthly and whether it is to be paid to the Bond or to another Santander savings or external Savings account. Once you have chosen the method of interest payment, it cannot be changed. Your interest is paid after close of business on the first day of the month after your Bond is opened, and on that day every month or every year until it matures. We can pay annual interest directly into your Bond, or into another account, including an external account. Monthly interest cannot be paid into the Bond, but must be paid into another Santander account.
- 5. Term
- The term of a Bond is fixed. When the term ends your money will be transferred to another Santander Account (at our discretion) unless before the end of the term you tell us otherwise.
- 6. Certificates
- When you open your Bond we will send you a certificate. Please keep it safe. If you do not receive your certificate you must notify us in writing. If you tell us within three months of opening your Bond that you have not received your certificate, we will issue you with a replacement free of charge. After three months, if you require a new or replacement certificate we may charge you for providing it. Where a withdrawal is made from the Bond an additional certificate will not be produced. If your certificate is lost or stolen you must report the loss or theft to Santander.
- 7. Charges for withdrawal or early closure
- Bond interest rates are calculated assuming you will leave your money untouched for an agreed term. There is therefore a charge related to the amount of money withdrawn early. Charges are calculated at the rate of interest payable at the date of withdrawal and will be deducted from the capital balance. The charge is equivalent to 90 days interest on the amount withdrawn. If the Bond has not been open for 90 days the charge will be applied for the number of days it has been open. No charge will be applied if closure of a Bond is required by your personal representative in the event of your death.
- 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. Rates may change and we pay interest each month or year. The gross rate is the interest rate we pay before income tax is taken off.
- * Gross/AER based on funds deposited by 1st April 2010
