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1 Year Fixed Rate Account/Bond

With £1,000 or more to deposit for periods of up to one year you can earn interest by placing funds in a 1 Year Fixed Rate Account.

No withdrawals are permitted on an account after the initial deposit. You can however invest in as many fixed rate accounts as you like.

The interest can be credited to the account or transferred to your external bank account from which the funds originated.

Up to 1.10%

Gross Rate* – interest paid annually and compounded.

Up to 1.09%

Gross Rate* – interest paid monthly and paid away.

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Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

1 Year Fixed Rate Account/Bond Summary

Account Name
1 Year Fixed Rate Account/Bond.
What is the interest rate?
1.10% Gross Rate* - interest paid annually and compounded§ for annual payment.
1.09% Gross Rate* - interest paid annually and compounded§ for monthly payment.
Can Hodge Bank change the interest rate?
Not during the term of the product.
Based on £1,000 initial deposit, what would the estimated balance after 12 months.
£1,011.00
Assumes interest is compounded and paid annually.
How do I open and manage my account?
You can open your account by post. You can manage your account by post, telephone and email. The minimum deposit for a 1 Year Fixed Rate Deposit Account is £1,000.
Can I withdraw money?
Not until maturity of the account.
Additional information
If you're looking for any other type of account such as a business account, joint account or charity account, you can apply using our application form, which you can request from our Customer Services Team.

How to apply

You can choose to receive your interest monthly, or annually from your account. Select from the options below.

Balance
Gross*
AER†
Gross* 1.10%
AER† 1.10%
Interest paid Monthly and paid away§
Gross* 1.09%
AER† 1.10%

Applying offline

You can apply for this account by post by downloading the application form below

By Post

Hodge Bank, One Central Square, Cardiff, CF10 1FS.

FAQs

AER stands for Annual Equivalent Rate. It shows the rate of interest a saver will receive over a year, on the assumption that the cash is left in the account for the full year without any withdrawals.
Compound interest is interest paid on the initial principle as well as the accumulated interest on money you have invested. You earn interest on the money you deposit, and on the interest you have already earned

Glossary of Terms

*Gross
Is the contractual rate of interest payable before the deducation of income tax at the rate specified by law. The payment can be made annually or monthly.

†AER
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded each year.

§Compounded interest and interest paid away
Compounded interest is interest that rolls up annually and is paid on maturity of the account. Interest paid away means the interest isn’t compounded over the term of the account. It is placed into a designated current account every month

Not the product for you?

Why not browse our range of other accounts to see which may suit you best