1 Year Fixed Rate Bond 4.40%AER

Enjoy the security of a Fixed Rate Bond with a choice of monthly or annual interest payments.

  • Start saving from £100
  • Make unlimited deposits for the first 21 days, up to a maximum of £85,000
  • Withdrawals or closures are not permitted during your fixed term
  • Choose monthly or annual interest payments

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Our handy savings calculator lets you see how much interest you can earn and how long it will take you to reach your savings goal. See how much you can save.

Before you apply, make sure you read the Product Special Conditions and Summary.

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Your money is protected

As we are a UK based fully licenced bank, you are protected up to £85,000 by the Financial Service’s Compensation Scheme (FSCS), the UK’s depositor guarantee scheme.

Product Summary

Account Name

1 Year Fixed Rate Bond

What is the interest rate?

Annual Interest Monthly Interest
Gross* AER** Gross* AER**
4.40% 4.40% 4.31% 4.40%
Annual Interest
Gross* AER**
4.40% 4.40%
Monthly Interest
Gross* AER**
4.31% 4.40%
*

Gross means the rate of interest payable before the deduction of UK income tax.

**

AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest was paid and compounded (meaning that you earn interest on interest) once each year.

This interest rate is effective from account opening and is fixed until the Maturity Date, one year from the date we receive your initial deposit.

Interest is calculated daily and paid monthly or annually. All interest is paid gross. If you choose annual interest, it will be paid on the anniversary of your initial deposit. If you choose monthly interest, it will be paid on the day of the month you first paid into your account.

No. The interest rate is fixed for the fixed term.

Annual Interest
Initial deposit Balance after 12 months
£1,000 £1,044
Annual Interest
Initial deposit Balance after 12 months
£1,000 £1,044

This example shows the projected balance at maturity assuming no further deposits are made, and interest is paid into this account at maturity.

This is for illustrative purposes only and doesn’t take into account any individual circumstances.

To open an account, you must be aged 18 and over and a UK resident for tax. You may open an account in sole or joint names, but the maximum number of account holders is two. The account must be for your personal use only.

Accounts are opened and operated online at www.vidasavings.co.uk and a valid email address must be provided. You’ll be able to communicate with us about the account by email, secure message via the Customer Portal, phone, or in writing.

The minimum initial investment for this account is £100. A deposit of at least this amount must be made within 21 days of your application request, or the account will be closed. You can make as many deposits as you like during this 21 day period, up to the maximum account balance of £85,000 (not including any interest) and subject to our Maximum Customer Balance. Please refer to our Savings T&Cs for information about the Maximum Customer Balance.

All deposits must be added by electronic transfer from your Nominated Bank Account, which must be in your name.

You cannot make withdrawals during the fixed term. We’ll contact you before your fixed term ends to give you instructions on what to do next.

This is a fixed term product. Once you’ve added money to your account, you can’t withdraw it, in whole or in part, until the Maturity Date.

For further details on how your 1 Year Fixed Rate Bond works, please refer to our Product Special Conditions and Summary.

Before you apply

To be eligible for this account you need to:

  • be 18 years or older
  • be a UK resident
  • have a UK Bank account
  • have a valid email address

Please make sure you've read the following documents and retain copies for your future reference.

Apply now

You can apply to open your 1 Year Fixed Rate Bond right away using our online application.


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Ready to start your savings journey with us?

Before you start, you’ll need to...

  • be 18 years or older
  • be a UK resident
  • have a UK bank account
  • have a valid email address
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