Fixed Rate Bond

This is a Fixed Rate Bond where your investment and interest is fixed for a period of time.

4.95%

4.95% AER*/Gross/Fixed Rate

Rate above is for the one year Fixed Rate Bond term. Other terms and rates are detailed below. At the end of your chosen term, you will be eligible for the loyalty rates, which are exclusively available to maturing bond customers.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross interest is the contractual rate of interest before the deduction of income tax.

Features

  • A choice of terms from 6 months to 5 years.
  • Competitive interest rates.
  • Fixed rate of interest guaranteed for the term of your bond.
  • Interest to be paid annually into your bond.

Keep in mind

  • Minimum deposit is £1,000.
  • Maximum deposit is £1,000,000.
  • Eligible deposits are protected up to £85,000 by the UK Financial Services Compensation Scheme.
  • Loyalty rates are now only available for maturing bonds and will no longer apply on newly opened Bond accounts. 
  • Please note you cannot withdraw from this product after the 14 day funding window has ended and your term is underway.

How to apply

  • Apply online.

How to manage your account

  • Online banking and telephone
  • You will be automatically enrolled to use the online banking service

What happens at Maturity?

  • We will contact you 14 days before maturity to provide you with your options.

Who this product may be suitable for

  • Suitable if you want a guaranteed return at the end of the term.
  • Suitable if you want a long term investment
  • FSCS Protected See Link for more details

Who this product may not be suitable for

  • May not be suitable if you want instant access to your savings.
  • May not be suitable if interest rates increase.
  • May not be suitable if you require access to the product within the term.

Please read the Personal Savings Account Terms and Conditions along with the Product Terms and Conditions and Summary Box below before you apply to ensure you understand the features and conditions of the account.

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Summary Box and Key Product Information

What is the interest rate?

Interest rates
   

Advertised rates

Fixed

Loyalty rates

Fixed

  Term AER Gross AER Gross
Fixed rate











6 months

5.12% 5.04% 5.13% 5.05%

1 year

4.95%

4.95%

4.96%

4.96%

15 months

4.85% 4.85% 4.86% 4.86%

18 months

4.80% 4.80% 4.81% 4.81%

2 years

4.75%

4.75%

4.76%

4.76%

3 years

4.40%

4.40%

4.41%

4.41%

4 years

4.20%

4.20%

4.21%

4.21%

5 years

4.00%

4.00%

4.01%

4.01%

Variable rate N/A 1.00%

1.00%

1.00% 1.00%

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 be 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 Bond Maturity page here.

Can Cynergy Bank change the interest rate?

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

What would the estimated balance be at maturity based on a £1,000 deposit?

Interest rates
Term Advertised Rate Gross Loyalty Rate Gross
6 months £1,025.27 £1,025.32
1 year £1,049.50 £1,049.60
15 months £1,061.18 £1,061.31
18 months £1,073.22 £1,073.38
2 years £1,097.26 £1,097.47
3 years £1,137.89 £1,138.22
4 years £1,178.88 £1,179.34
5 years £1,216.65 £1,217.24
Variable Rate £1,010.00 £1,010.00

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. 

How do I open and manage my account?

  • 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. For more information about Authentication and guidance help, please see our guidance pages here.
  • You may contact us by Secure Message via Online Banking, by telephone or in writing using the address or other contact details we have given you or which appear on our website. Please note we are unable to take transaction requests through these channels.

Can I withdraw money?

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

Additional Information

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.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. Gross interest is the contractual rate of interest before the deduction of income tax.

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.

Whilst we strongly suggest customers frequently check our website to see the latest available issue. We may also periodically communicate with customers directly drawing your attention to other available products/rates. 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.

Please read the important information below before applying:

Cynergy Bank Privacy Policy

FSCS Information Sheet / Exclusions List

Fixed Rate Bond Conditions

Historic Interest Rates

 

The contents of this Summary Box are intended as a summary of the main features only and should be read alongside the relevant conditions.

Please note the summary above applies to Fixed Rate Bonds opened after April 2022. 

Please read the Personal Savings Account Terms and Conditions along with the Product Terms and Conditions and Summary Box below before you apply to ensure you understand the features and conditions of the account.

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