Fixed Rate Bond

• Interest is calculated daily, beginning on the first Working Day following account opening, based on the cleared balance in your account.

• If your bond term is 1 year or less, your interest will only be paid on maturity and added to the account balance.  

• For terms exceeding 1 year interest will be paid annually on account anniversary and on maturity to the account.

• For loyalty rates offered at maturity for existing Fixed Rate Bond accounts opened before March 2022 please see our .

No. The interest rate is fixed for the term of the Fixed Rate Bond.

The estimated balances are based on £1,000 being deposited into your account on the first day of your account opening. They are provided for illustrative purposes only and do not take into account a customer’s individual circumstances.

Please note, the estimated balances assume interest will be added to the account balance on an annual basis. 

• Personal customers who are 18 or over and a UK resident can open a Fixed Rate Bond online. 

• The minimum initial deposit is £1,000.

• The maximum deposit is £1 million.

• You must make any deposits into your account within 14 days from your account opening date. Any deposits after the end of the funding window will not be accepted and will be returned to your nominated account. 

• If you change your mind, you have 14 days from the date your Fixed Rate Bond is opened in which to cancel it. Within these 14 days you do not need to provide any reason for cancellation. To cancel your account, you can go to your Online Banking and select to withdraw and close your account. 

• You can use Online Banking to manage your account.

• For added security, when you use Online Banking, you’ll need to download and register our Authenticator App (available for free on Google Play or the Apple App Store) or request a Digipass® from the Customer Services team.

• You will need access to the Authenticator App or Digipass® every time you login and make any actions on your account. This added security step helps us know that it is you making the transaction so we can keep your account safe.

• You may contact us by Secure Message via Online Banking, by telephone or in writing using the address or other contact details. Please note we are unable to take transaction requests through these channels.

No. Withdrawals are not permitted before the end of the term, unless in exceptional circumstances. Please read the before you apply to ensure you understand the features and conditions of the account.

You cannot transfer or assign the Fixed Rate Bond to anyone else. 

Interest will be paid without the deduction of tax. Individuals may have tax to pay on any interest received that exceeds their Personal Savings Allowance. Further information on the Personal Savings Allowance can be found at www.gov.uk .

The tax treatment and the rate of interest payable depend on individual circumstances and may be subject to change in the future.

We may periodically launch new savings product issues which are given designated issue numbers. Individual product issues each have their own interest rate, these may vary from the prior/proceeding issues; either upwards or downwards.

We suggest customers check our website to see the latest available issue and if you wish to open a new product issue / savings then you can apply through our website or Online Banking.

We publish all current and historic issue interest rates on our website (https://www.cynergybank.co.uk/rates/) and within Online Banking if you hold one of our existing products.