5 Year Fixed Saver

These rates are effective from the date shown above and are fixed until the end of your product term.

You will earn interest on the money in your Fixed Saver from the day you pay it into the account. We calculate interest on your balance daily using the gross interest rate. For monthly interest products, we typically pay interest on the day of the month your account was opened. For annual interest products with a term of 1 year or longer, we pay interest on the anniversary of account opening. For products with a term of less than 1 year, we pay interest at the end of the term.

You can choose to have interest earned added to your Fixed Saver or paid into a nominated account in your name.

‘AER’ means ‘annual equivalent rate’ and is designed to make it easy for you to compare savings products. It tells you how much interest you’d earn if you put some money in an account and left it there for a full year. It takes account of things like how often the interest is paid and assumes any interest paid during that year is added to the balance and earns interest.

‘Gross’ is the interest rate paid on an account before any taxes or other deductions are accounted for.

No. The interest rate on your Fixed Saver is fixed from the day you open your account until the end of the product term.

This is the amount of money you’ll have in your account at maturity, if your balance is £1,000 from the first day onwards and your interest is added to your balance.

You can open and manage this account using the Atom app, which is available from the UK App Store© and the UK Google Play© store.

You must be at least 18 years old to open an account.

You can only open a Fixed Saver as a sole account (just you).

You must make at least a £50 deposit into your Fixed Saver during the deposit window, or we will close your account.

Your deposit window starts as soon as your account is opened and closes at 9pm on the same day the following week. You can make as many deposits as you like during this window, as long as you don’t exceed the Maximum Balance Limit.

The Maximum Balance Limit for this account is £100,000. The total balance across all fixed savers you hold with us cannot exceed £100,000. You can find more information in the Fixed Saver T&Cs.

You can’t take any money out of a Fixed Saver account until the end of the product term, when it matures.

Your maturity date will be based on your product term and account opening date. We’ll contact you with options before your account matures so you can tell us what you want to do with your money.

We will not deduct any tax from any interest you earn. You are responsible for paying any tax due to HM Revenue and Customs on interest that exceeds your Personal Savings Allowance.

The Personal Savings Allowance, effective from 6th April 2016, means basic rate taxpayers can earn up to £1,000 interest tax-free per year. This limit is £500 for higher rate taxpayers.

Where possible, HMRC will automatically collect any tax you owe through a change to your tax code.

Go to: https://www.gov.uk/apply-tax-free-interest-on-savings for more information.

If you need a copy of this summary box in another format, please contact us.

Our Fixed Saver T&Cs give you more detail about how the product works, so you can decide if it’s right for you.

Please note that the rates we offer can change at any time.