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Fixed Rate Bond: Internet Only Edition
Start saving with a balance of £2,000 and apply in minutes
- Online applications only
- 1.50% AER/Gross p.a. (fixed) - Interest rate fixed until 18 June 2014
- Existing Customers only - You will need to have an RBS current account or instant access savings account (excluding all cash ISA accounts) from which to pay into your bond and for the payment of interest.
- Easy application - as the application can be completed quickly online when you have a nominated account. Single account application only
- Save from £2,000- the maximum is £1,000,000
- Simple - Fixed Rate Bond: Internet Only Edition has one rate of interest which starts once the bond account is opened and your funds are in
- If you change your mind about opening your Fixed Rate Bond you have a 14-day period from the date your Bond has been opened, in which to contact us to cancel your Bond without incurring an interest charge
- No partial withdrawals or additional deposits are allowed - you may close your Fixed Rate Bond prior to the maturity date by providing a written instruction to your branch, and giving 35 days’ notice. There will be an interest charge equivalent to 90 days' gross interest
- You may close your Fixed Rate Bond in the event of death or involuntary redundancy, in those circumstances, an interest charge will not apply. 35 days’ notice will still be required
- At maturity, we will automatically reinvest your deposit for you into a new Fixed Rate Bond of the same term and interest frequency, unless you tell us otherwise
- Limited offer - may be withdrawn at anytime
The simple way to fixed interest savings growth
Fixed Rate Bonds: Internet Only Edition interest rates
| Term | Interest rate | Maturity date | ||
|---|---|---|---|---|
| AER | Gross p.a. | Net | ||
| 1 year | 1.50% | 1.50% | 1.20% | 18 June 2014 |
Annual interest - you recieve your interest when your bond matures.
Annual Equivalent Rate (AER) - This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross - This means the interest rate you are paid before the deduction of income tax
Net - This means the interest rate you are paid after the deduction of income tax
Internet Only Edition explained
The RBS Fixed Rate Bond: Internet Only Edition is a fixed rate bond that can only be applied for online.
Nominated Account: Nominated Account: When you open your bond, we need to transfer funds from another account. You will need to have an RBS current account or instant access savings account (excluding all cash ISA accounts) from which to pay into your bond and for the payment of interest. Following the processing of your application and the deposit of funds in your nominated account, your Fixed Rate Bond will be opened within 5 working days. Your Fixed Rate Bond will run from the date of opening until the maturity date.
Minimum balance of £2,000 and maximum balance of £1,000,000.
Other Fixed Rate Bond options
If you want to fix your interest rate for more than one year or want monthly interest, you may want to consider our other Fixed Rate Bond options.
Important information
Available to personal RBS customers ages 18 or over.
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Interest Rates
| Term | Interest rate | Maturity date | ||
|---|---|---|---|---|
| AER | Gross | Net | ||
| 1 year | 1.50% | 1.50% | 1.20% | 13th February 2014 |
Annual interest - you receive your interest when your bond matures.
Annual Equivalent Rate (AER)
This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts
Gross
This means the interest rate you are paid before the deduction of income tax
Net
This means the interest rate you are paid after the deduction of income tax
All Fixed Rate Bond Options
A range of fixed rate savings options
In addition to our Internet Only Edition we provide other Fixed Rate Bond options which you can open online, in branch or over the phone.
The table below compares our current bond offers:
| Term & Interest frequency | Interest rate | Maturity date | Deposit | |||
|---|---|---|---|---|---|---|
| AER | Gross p.a. | Net | Minimum | Maximum | ||
| 1 year Fixed Rate Bond: Internet Only Edition | ||||||
| Annual interest | 1.50% | 1.50% | 1.20% | 21st May 2013 | £2,000 | £1,000,000 |
| 1 year Fixed Rate Bond | ||||||
| Annual interest | 2.25% | 2.50% | 2.00% | 21st May 2013 | £5,000 | £500,000 |
| Monthly interest | 2.50% | 2.47% | 1.98% | 21st May 2013 | £5,000 | £500,000 |
| 2 year Fixed Rate Bond | ||||||
| Annual interest | 3.00% | 3.00% | 2.40% | 21st May 2014 | £5,000 | £500,000 |
| Monthly interest | 3.00% | 2.96% | 2.37% | 21st May 2014 | £5,000 | £500,000 |
Financial Services Compensation Scheme
Your eligible deposits with Royal Bank of Scotland Plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Royal Bank of Scotland, Direct Line, the One Account, Child & Co, Drummonds and Holt's.
Any deposits you hold above the £85,000 limit are not covered.
Further information is available (PDF 3MB) or visit www.fscs.org.uk