Fixed Rate Deposit Account

With £1,000 or more to deposit for a period of one year or longer, you can earn interest by placing your funds in our fixed rate deposit account.

Further deposits may be added to an account during its term but only whilst the interest rate payable on the account is the same as the rate on offer for new accounts. No withdrawals are permitted on an account after the initial deposit.

You can however invest in as many fixed rate accounts as you like.

A monthly income option is also available, allowing you to supplement your existing income. The interest can be credited to the account or transferred to your external bank account from which the capital sum originated.

Summary Box, Key Product Information for our Savings Account(s)
What is the interest rate?
The interest on this account can be repaid monthly or annually.
1 Year1.25%
2 Year1.35%
3 Year1.55%
4 Year1.65%
5 Year1.75%
Can Hodge Bank change the interest rate? Not during the term of the product.
What would the estimated balance be after the relevant term based on £1000 deposit and the interest compounded to the account?
1 Year£1,012.50
2 Year£1,027.18
3 Year£1,047.22
4 Year£1,067.65
5 Year£1,090.62
How do I open and manage my account? You can open your account by post and can manage your account by post, telephone or e-mail. The minimum deposit for a Fixed Rate Deposit Account is £1,000.00.
Can I withdraw the money? Not until maturity of the account.
Additional information Further deposits may be added to an account during its term but only whilst the interest rate payable on the account is the same as the rate on offer for new accounts. All additional funds must come from the same bank account as the original deposit.