Fixed Term Savings
Benefit from a fixed interest rate
Know in advance what your savings will earn
Fixed Term Savings Account
If you have between £5,000 and £500,000, and are happy to lock your money away for one or two years, a Fixed Term Savings Account may give you a better rate of interest than an instant access account. The longer the term you choose, the higher the interest will be.
Our Fixed Term Savings Account gives you:
- Choice – choose a 1 or 2 year term to suit your needs
- Confidence – a fixed rate means you know in advance what your savings will earn.
- Flexibility – we know the unexpected can happen so:
- You have the ability to withdraw funds or even make further deposits until the business day before the Fixed Term Start Date.
- Interest will be paid directly into your Fixed Term Savings Account each month which could help your savings to grow more quickly. Alternatively, should you want to have interest paid into another RBS account each month, we can arrange that too.
- If you do need to get your hands on your money before the Maturity Date you can close your account by simply giving us 35 days’ written notice. An Early Closure Charge may be applicable.
- Simplicity – We will contact you before the Maturity Date to advise of your options. If you are happy to retain your funds in another Fixed Term Savings Account you do not have to do a thing and we will automatically reinvest it for you. Alternatively, you can opt out of this process at this time.
|Term||Balance||Interest Payment||AER (fixed)||Gross p.a. (fixed)||Net||Maturity|
|1 year||£5,000.00 - £49,999||Monthly||0.90%||0.90%||0.72%||28 September 2016||Apply now|
|£50,000 - £500,000||Monthly||1.00%||1.00%||0.80%
||28 September 2016|
|2 year||£5,000.000 - £49,999||Monthly||1.15%||1.14%||0.91%||28 September 2017||Apply now|
|£50,000 - £5000,000||Monthly||1.25%||1.24%||0.99%||28 September 2017|
Gross – this means the interest rate you are paid before the deduction of income tax.
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.
Net is the interest you are paid after deduction of income tax.
Please read these documents
These useful documents contain everything you need to know about our Fixed Term Savings Account.
Got an existing RBS Fixed Rate Bond?
Manage your reinvestment and more
From getting started with Digital Banking to reinvesting your Fixed Rate Bond, you'll find everything you need to manage your account here.
Protecting your money
Your eligible deposits with RBS 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: The Royal Bank of Scotland, Direct Line, the One Account, Child & Co, Drummonds and Holt's. Any total deposits you hold above the £85,000 limit between these brands are unlikely to be covered.