Please use the Quicklinks menu below in order to navigate through the site.


1 Year Fixed Term deposit Account

1 Year Personal Fixed Term Deposit Account Interest Rates

The 1 Year Personal Fixed Term Deposit Account is only available to customers with an existing 1 Year Personal Fixed Term Deposit Account who wish to deposit their money for another year at maturity.

To apply, return a completed application form to us. You can download the form here, or call us on 0345 845 0829 and we’ll send you a form in the post.

Issue 79: Offer period: 17/06/2015 to 22/07/2015 | Maturity date: 22/07/2016

Balance 1 Year Fixed Term Deposit Account Gross/AER
£10,000 – £5,000,000 1.00%
Summary Box
Key Product Information for our Savings Account(s)
Account Name 1 Year Fixed Term Deposit Account
Interest Rates
The fixed rate of interest, determined prior to the specified issue being promoted, will apply from when the account is opened until maturity. The interest earned during the initial offer period will be added to your original investment at the end of the offer period.

The interest earned after the end of the offer period will be applied to the account on the maturity date.

Please see above for current interest rate information.
Tax Status Interest is paid net of basic rate income tax (currently 20%) but may be paid gross if the appropriate HM Revenue and Customs form is completed.
Conditions for Bonus Payment No bonus payment applies to this account.
Withdrawal Arrangements No partial withdrawals are allowed, Early access to funds is permitted on account closure. If you need to withdraw your money before the end of the term, you can close your Fixed Term Deposit Account, and the whole balance will be returned without interest.

You can ask us to pay the money in your Fixed Term Deposit Account into another savings account with Scottish Widows Bank or your nominated account.

On death of customers before the end of the term, the initial capital plus the full amount of accrued interest will be returned.
Access Access is normally only at the maturity date. We'll write to you before your account matures to ask what you'd like us to do with your money.

Interest Periods

Interest will accrue at the fixed rate from the start date but will not be applied until the maturity date 12 months later.


On the interest rate table you may see some terms you are unfamiliar with. These are:

AER — Stands for the Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. (As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time).

Gross — This is the contractual rate of interest payable before the deduction of income tax at the rate specified by law (currently 20%).

The AER advertised is based on interest paid gross and capitalised to the account once a year - please note that other interest payment periods are available and the actual interest rate on your account will be lower if you have interest applied more frequently, but when compounded will equal the AER.