Fixed Bonds

With our Fixed Bonds you can be sure of the return on your money. Put your money away for a fixed term of 1, 2 or 3 years.

Benefits

  • A fixed interest rate with a range of terms available.

  • 1 year pays an interest rate of up to 0.55% Gross/AER. 2 year pays an interest rate of up to 0.65% Gross/AER. 3 year pays an interest rate of up to 0.85% Gross/AER.

  • Open your account with £2,000 or more.

  • Deposits must be received within 10 working days of opening your account.

  • You can choose to have your interest paid monthly or annually. Interest can be added to the account, paid to a different TSB account (as long as it’s possible to make interest payments into that account) or to an account with another building society or bank.

  • No withdrawals are allowed once your account is open and early closure is not possible.

  • Open and manage your Fixed Bond in branch, on the phone or through Internet Banking.


How to Apply

1 Year Fixed Bond

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2 Year Fixed Bond

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3 Year Fixed Bond

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Or alternatively, apply in a branch
 
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Summary box

Account name Fixed Bond
What is the interest rate? Term Annual Monthly

AER/Gross (fixed)

Gross (fixed)

AER (fixed)

1 Year 0.55% 0.54% 0.55%
2 Year 0.65% 0.64% 0.65%
3 Year 0.85 % 0.84% 0.85 %

Interest is calculated each day. You can choose to have your interest paid monthly or once a year on the anniversary of opening the account.

Can TSB change the interest rate? No, we can’t change the interest rate during the term of your Fixed Bond.
What would the estimated balance be at the end of the bond term based on a £2,000 deposit? Initial deposit £2,000

Fixed Bond-1 year

Interest earned at 0.55% Gross/AER (fixed)

£11.00

Estimated balance after 12 months

£2,011.00

Fixed Bond-2 year

Interest earned at 0.65% Gross/AER (fixed)

£26.08

Estimated balance after 24 months

£2,026.08

Fixed Bond-3 year

Interest earned at 0.85 % Gross/AER (fixed)

£51.43

Estimated balance after 36 months

£2,051.43

This is an example only and doesn't take into account your individual circumstances.

How do I open and manage my account?

Ways to open

  • In branch
  • Online

Who can open

You must be:
  • 16 or over; and
  • A UK resident.
Balance

£2,000 minimum opening balance

Deposits must be received within 10 working days of opening your account. 

Manage your account

  • In branch
  • Over the phone
  • Online
Can I withdraw money?

Withdrawals allowed

No

Early closure allowed

No (except in the event of your death)

Additional information
  • Accounts can be held in sole or joint names
  • Interest is paid gross (without taking off tax)
  • If you earn more interest than the Personal Savings Allowance, you may have to pay extra tax yourself
  • The Personal Savings Allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Additional rate taxpayers don't receive a Personal Savings Allowance
  • At least 30 days before the end of the term, we'll write to you asking what you'd like us to do with the balance in your account
  • If you don't let us know before the end of the term (or we can't reasonably fulfil your instructions), we'll transfer the balance to a Matured Funds account or similar account if it is no longer available
  • We'll send you full details when we write to you.

Rates and information correct as at 09/10/2019.

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

Gross rate is the contractual rate of interest payable before the deduction of income tax.

More information

Your eligible deposits with TSB are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme.

Your deposits with us are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank including their share of any joint account, and not to each separate account.

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the  FSCS website or call the FSCS on 020 77 414 100 or 08006 781 100 . Please note only compensation related queries should be directed to the FSCS.

Accounts with TSB Bank plc include accounts in all its divisions and under trading name TSB and TSB Business. An eligible depositor's £85,000 limit relates to the combined amount in all accounts with TSB Bank plc.

Financial Services Compensation Scheme

FSCS


 
Visit fscs.org.uk to find out more
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