GROSS is the interest rate without the deduction of income tax. Tax Statements: Please note, tax statements for the 2020/21 tax year will be uploaded for online customers or posted to non-online customers by the end of May. Shawbrook Bank has reduced its rates on its 1 Year Fixed Rate Bond. Invest in a fixed rate bond and reap the rewards. £2,000,000. about 1 Year Fixed Rate Cash ISA Bond Issue 46, about 2 Year Fixed Rate Cash ISA Bond Issue 46, about 3 Year Fixed Rate Cash ISA Bond Issue 26, about 5 Year Fixed Rate Cash ISA Bond Issue 25, about 7 Year Fixed Rate Cash ISA Bond Issue 3, www.bankofengland.co.uk/prudential-regulation. Tax Statements: Please note, tax statements for the 2020/21 tax year will be uploaded for online customers or posted to non-online customers by the end of May. So it’s best for savers who know they won’t need the money in the meantime. I also saved money on the car as I had cash to pay for it. These accounts offer higher maximum balances than our Fixed Rate Cash ISA accounts. They must be opened online but can … Be ambitious. It was quick and easy and the money was in my bank quickly. stocks and shares ISAs, and it can be invested with different providers as long as the total doesn’t exceed the limit. Fantastic service and I have told some friends and family to try this bank. You can transfer other ISA balances into your new Shawbrook ISA, up to the maximum account balance for your product. Why choose a Shawbrook Bank fixed rate bond? Fixed rate bonds involve depositing a set amount of money for an agreed period of time at a fixed interest rate. That’s why we’ve chosen to do things differently. We quote the AER on all of our accounts so that you can compare our products with those of other banks. Paid Interest. Fixed rate bonds are the best, and often only, way to secure a decent return from your money. There is a version of this account that pays interest monthly at a slightly lower gross rate of 1.24%. Fixed rate bonds continue to languish with the rest of the savings market in the wake of Funding for Lending, but Shawbrook Bank has today issued three market-leading products. In return for not making any withdrawals during the two-year fixed term, we guarantee to pay 0.76% AER. The provider's one year fixed rate bond pays a market-leading 2.02% gross/AER, moving past long-standing table topper Metro Bank. Make your savings work harder. If you do not let us know what you wish to do by the maturity date, your account will revert to a Matured Funds account and the interest rate will be confirmed to you in writing. If you’re not looking for an ISA account, but are still looking for a fixed rate of interest across the account term, we offer Fixed Rate Bonds for 1 year, 18 months, 2, 3, 5 or 7 year terms with competitive rates of interest. £2,000,000. Interest is rounded to the nearest pound. A £1,000 minimum deposit is needed to open this account, which must be opened and managed online. So it’s best for savers who know they won’t need the money in the meantime. If these balances are from previous tax years, they don’t count towards the £20,000 limit in the current tax year. FSCS. A £1,000 minimum deposit is needed to open this account. The illustrative example does not take into account the individual circumstances of a customer.). The best five-year fixed rate bond is now from Shawbrook Bank with its 5 Year Fixed Rate Bond Issue 33. Interest rate for balances of £1,000 or more: Annual Interest (Fixed) 0.76% Gross / AER Monthly Interest (Fixed) 0.76% Gross / 0.76% AER. While rates for other accounts can go up or down, with a fixed bond we’ll pay the stated rate for the term, guaranteed. £1,000. Make your savings work harder. Look no further... Ready to expand? Maximum Deposit. 5 Year Fixed Rate Cash ISA Bond Issue 25 What is the interest rate? Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. 0.76%. Remember you can split your total £20,000 into cash ISAs (such as our savings accounts) and stocks and shares ISAs, and it can be invested with different providers as long as the total doesn’t exceed the limit. The account is only available to individuals who are 18 years of age or over, permanently resident in the UK, are only liable for UK tax and can provide a UK bank account as a nominated account. Thanks to the effects of tax and inflation, you'll currently need an account paying at least 2.00% per annum to counter those pressures and see a measurable return – and three-year fixed rate bonds can easily offer these kinds of rates. Expand your empire. Get a mortgage that's made for you... 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