Scottish Widows Bank PLC
Phone: +44 0845 767 8910
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1 Year Fixed Term Deposit Account (Non-Personal)
Category
Description
The 1 Year Fixed Term Deposit Account from Scottish Widows Bank has been created with a wide range of organisations in mind. It’s a simple way to get more out of the funds you have that you won’t need access to for the next 12 months. It’s an account that could be ideal for organisations such as:
Interest Rate
£10,000 – £5,000,000 1.00% AER
Details
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.
After the start date the interest rate is fixed until the maturity date (shown above).
Please see above for current interest rate information.
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.
Definitions
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 interest earned after the end of the offer period will be applied to the account on the maturity date.
After the start date the interest rate is fixed until the maturity date (shown above).
Please see above for current interest rate information.
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.
Definitions
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%).
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