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savings

fixed rate bonds

fixed term deposit promotional imagewant to get a better rate by locking your money away for a while?

  • 1, 2 and 3 year terms available
  • save £1,000 to £1,000,000
  • choose annual or monthly interest
  • it is not possible to add to or withdraw from this account during the term of the product
  • offer may be withdrawn at any time

cash ISAs

want to save tax-free?

  • we have a range of accounts for you to choose from
  • currently save up to £5,940 tax free in a cash ISA in the 2014/2015 tax year but this will increase to £15,000 from 1 July 2014
  • you can also transfer any existing cash ISAs to us
  • to open a cash ISA you must be aged 18 or over and resident for tax purposes in the UK

no-notice savings

No notice account promotional imagewant to save and also get to your money easily?

  • start saving from just £1
  • instant access wherever you are
  • quick, easy and secure online application
  • secure online banking
  • earn more interest if you have a smile current account
  • to open an account you must be a UK resident aged 16 or over

10% tax rate on savings incomes

If you are over 65 and still need to pay tax on your income, you may be paying too much. You may be eligible for a special 10% tax rate on your savings income. If you would like further information please go to the HM Revenue & Customs website.

Important: We cannot give advice about tax issues, please contact your local Tax Office with any queries.

Definitions

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

Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).

Net - The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).

Tax free - Tax-free is the contractual rate of interest payable where interest is exempt from income tax.

Any reference to tax is based on our understanding of current legislation which is subject to change and depends on your individual circumstances

smile is a trading name of The Co-operative Bank which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, subscribes to the Lending Code and the Financial Ombudsman Service, and is licensed by the Office of Fair Trading (No. 006110).

The Co-operative Bank p.l.c., P.O. Box 101, 1 Balloon Street, Manchester, M60 4EP. Registered in England and Wales No. 990937