About this bond
- This account comes with an annual interest rate of 1.25% / for three years.
- This rate applies to bonds with issue number 79 (which launched on 06 September 2017).
- Open an account with anything between £1,000 and £1,000,000.
- Available as a sole account, joint account or ‘re’ account. What is a
- Choose how to receive your interest: annually or monthly.
- For annual interest, you can choose to add this to your bond account or pay it into a bank/building society account of your choice.
- If you’d prefer your interest on a monthly basis, we will pay it into a bank/building society account of your choice.
- You can use this bond if you want to earn interest on a lump sum.
- It’s not possible to add to or withdraw from this account during the term of the product until maturity.
- Comes with a passbook.
- This is a limited issue product and may be withdrawn without notice at any time.
- This account reaches maturity after 3 years. On maturity, your money will be moved into an instant access account that pays a variable interest rate.
Summary Box for 3 Year Britannia Fixed Rate Bond
- The information provided below is a summary of the key features of our 3 Year Britannia Fixed Rate Bond - issue 79 and is not intended to be a substitute for reading its terms and conditions.
3 Year Britannia Fixed Rate Bond - issue 79
What is the interest rate?
|Interest paid annually|
|Interest paid monthly|
- Interest is calculated daily.
Interest paid annually - will be paid no later than before we open for business on the first working day after each anniversary.
You can choose whether you’d like interest paid annually to be:
- added to your account
- paid to a different account either with us or another provider
Interest paid monthly - will be paid no later than before we open for business on the first working day after the end of each month. The final month’s interest payment will be added to this account. You can choose whether you’d like interest to be paid to another account with us or with another provider.
- Once you have selected to have your interest paid either annually or monthly, you cannot change this.
Can Britannia change the interest rate?
No - the interest rate on your account is fixed and will not change during the 3 year term.
What would the estimated balance be at the end of the fixed term based on a £1,000 deposit?
|Initial deposit at account opening||Balance after 3 Years||Interest earned in Year 1||Interest earned in Year 2||Interest earned in Year 3|
We have worked this out assuming:
- You have chosen to receive your interest paid annually
- You have chosen to add your interest to the account
How do I open and manage my account?
Can I apply for this account?
To apply, you must be a UK resident.
- This account can be opened in sole or joint names or on someone else’s behalf, for example a child's.
How do I apply for this account?
You can apply for this account:
- Over the phone.
- In branch.
Is there a minimum and a maximum balance?
- The minimum opening balance is £1,000.
- The maximum balance is £1,000,000.
How do I make deposits into this account?
You can pay your initial deposits into this account with cash, cheque or by transfer from another account held with us.
- Further deposits and withdrawals are not permitted during the term of this account.
How do I contact you to discuss this account?
Can I withdraw money?
No, you can't make withdrawals from this account until maturity so you should consider whether the amount you want to deposit leaves you with adequate emergency funds.
This account matures on its three year anniversary and your money will be transferred to a variable rate instant access account unless you have provided us with your maturity instructions. We'll send you a letter before your maturity, to remind you of your maturity date and to let you know what options are available to you, when considering what you'd like to do with your money.
On maturity, you can access your money in branch or by post.
This is a limited issue product and may be withdrawn without notice at any time.
Interest earned from this account will count towards any of your available personal savings allowance.
We will pay interest without deducting income tax. If you earn more interest than the amount permitted as tax free income, you will have to pay tax on the interest earned directly to HM Revenue & Customs. If you are not sure whether you will have to pay income tax, we recommend that you contact your local tax office or HM Revenue and Customs or visit gov.uk/hmrc/savingsallowance
For more information about childrens’ savings, visit gov.uk/savings-for-children.
Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
Gross - The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
AER - Stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
Working day - any day other than Saturday, Sunday or a bank holiday or public holiday in England and Wales.
Apply for this Fixed Rate Bond
To apply, you need to be:
- A UK resident.
Approval is based on an assessment of your personal circumstances.Apply now
Ready to apply?Please read our terms and conditions, Britannia Savings Summary of Changes to terms and conditions with effect from 13th January 2018 and other important documents before applying.
- All the information you’ve read so far (e.g. features, eligibility) can be found in the important documents below. We recommend that you save a copy of these important documents for future reference.
Please note: our terms and conditions are changing with effect from the 13th January 2018. Please see the attached Britannia Savings Summary of Changes document which explains what we’re changing and why.
Product Specific Terms and Conditions & Summary Box (which contains interest rates)Download PDF (1.28MB)
Summary of changes to our Britannia Savings Terms and Conditions with effect from 13th January 2018Download PDF (114KB)
Britannia General terms & conditionsDownload PDF (978KB)
How we use your personal informationDownload PDF (242KB)
- Any reference to tax is based on our understanding of current tax regulations which may change in the future and depends on your individual financial circumstances.
- The Co-operative Bank reserves the right to decline or accept any application and/or deposit.
Help for existing customers
Get extra information about applications, rates and accessing your savings account.Get help and info
We’re part of The Co‑operative Bank, and we share the same ethical values too.
smile, Britannia and The Co‑operative Bank are trading names of The Co‑operative Bank plc, which is a member of the Financial Services Compensation Scheme (FSCS).
The Co‑operative Bank reserves the right to decline any application.
References to tax are based on our understanding of current tax regulations - these may change and depend on the customer’s individual financial circumstances.
You can subscribe to a smile/Co‑operative Bank/Britannia Cash ISA if you have not subscribed to another cash ISA with another provider in the current tax year.
This stands for Annual Equivalent Rate. It shows you what the interest rate would be like if your interest was paid and compounded once a year.
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
A ‘re’ account is a Fixed Rate Bond which you’ve applied for on someone else’s behalf. This is usually for people who don’t have their own current accounts yet, which is why we don’t include a minimum age limit on our Fixed Rate Bonds.
A passbook is a useful way to keep track of interest payments on your savings account. It can be used when you first open your bond.