Sorry, we are only accepting Fixed Rate Bond applications from existing customers at this time.
Interest rates andterm lengths
3.30% Annual Gross/ AER (fixed)
12-month term
The shortest fixed rate bond at just 12 months.
3.30% Annual Gross/ AER (fixed)
18-month term
Save a lump sum in our 18 month fixed rate bond.
3.30% Annual Gross/ AER (fixed)
24-month term
Our longest fixed rate at 2 years (24 months), giving you more financial certainty for future planning.
About this account
Fixed rate bonds
Account terms
- Once you’ve chosen your term, your interest rate will not change
- You cannot withdraw or add to your savings during the account term
- You can open multiple fixed rate bonds with terms to match your business needs
- Save up to £5,000,000 per fixed rate bond
Pick the
Savings term
- There are three different terms to choose from 12, 18, and 24 months
- You cannot withdraw or add to your savings during the account term
- You can open multiple fixed rate bonds with terms to match your business needs
To apply
You'll need:
You must be:
You cannot apply if:
Useful documents
Sorry, we are only accepting business fixed rate bond account applications from existing customers at this time.
If you don’t already have an account with TSB, we won’t be able to accept your application for a business fixed rate bond account. If you submitted an application before 20th September, it will be progressed and we will be in touch.
We will update our website as soon as we are able to open accounts for new customers. Please check back here for updates.
How do I apply?
New to TSB business banking?
- Apply online by choosing the fixed term you want
- Submit your application to secure a fixed rate
- Complete within 30 minutes
You must be an existing active TSB personal customer.
Already a TSB business customer?
Or, if you're not registered for internet banking
| Fixed Rate Bond | Interest Rate | |
|---|---|---|
| 1 Year | Interest rate on balances of £1 or more. 3.30% Annual Gross/AER (fixed) |
|
| 18 months | Interest rate on balances of £1 or more. 3.30% Annual Gross/AER (fixed) |
|
| 2 Year | Interest rate on balances of £1 or more. 3.30% Annual Gross/AER (fixed) |
You’ll earn interest on balances of £1 and above. Interest is calculated each day and will be paid annually on the anniversary of the account being opened. If the term is less than 1 year, interest is paid at the end of the term.
No, we can’t change the interest rate during the term of your fixed rate bond.
| Fixed Rate Bond - 1 year | Initial deposit | £1,000 |
|---|---|---|
| Interest earned at 3.30% Gross/AER (fixed) | £33.00 | |
| Estimated balance after 12 months | £1,033.00 | |
| Fixed Rate Bond - 18 months | Initial deposit | £1,000 |
| Interest earned at 3.30% Gross/AER (fixed) | £49.91 | |
| Estimated balance after 18 months | £1,049.91 | |
| Fixed Rate Bond - 2 years | Initial deposit | £1,000 |
| Interest earned at 3.30% Gross/AER (fixed) | £67.09 | |
| Estimated balance after 24 months | £1,067.09 |
This is an example only and doesn’t take into account your individual circumstances. The example assumes £1,000 is paid into the account on day 1 of the account being opened.
| Ways to open |
|
|---|---|
| Who can open an account? | For a full explanation of who can open one of these accounts, please read section 2 of the terms and conditions. |
| Open with | £1 minimum opening balance. Deposit up to £5 million. Deposits must be received within 14 days of opening your account. After this, no further money can be paid into the account. |
| Manage your account |
|
| Withdrawing money | No withdrawals can be made during the fixed term, except in exceptional circumstances. These are explained more in condition 6 of the terms and conditions |
|---|---|
| Cancelling the account | You cannot cancel this account. |
| What happens at the end of the term? | At least 30 days before the end of the term, we’ll write to you asking what you’d like to do with the balance in your account. If you don’t let us know before the end of the term (or we can’t reasonably fulfil your instructions), we’ll transfer the balance to a Matured Funds account or similar account if it is no longer available. We’ll send you full details when we write to you. |
Accounts can only be opened in the business name and a maximum of 5 accounts can be opened.
Interest is paid gross (without any deduction for tax). If you are entitled to the Personal Savings Allowance as an individual UK taxpayer and earn interest in excess of this amount, then you may have to pay extra tax yourself. The annual Personal Savings Allowance is currently for basic rate taxpayers and for higher rate taxpayers. Additional rate taxpayers don’t receive a Personal Savings Allowance. Corporate customers (e.g. limited companies) should seek their own tax advice.
AER stands for Annual Equivalent Rate. It shows what the interest rate would be if paid and added to the account once each year. It lets you compare savings accounts easily. Gross rate means that credit interest is paid without income tax being deducted.
Important Information
18+ & UK based business
AER stands for Annual Equivalent Rate. It illustrates what your interest rate would be if interest was paid and compounded each year and allows you to easily compare different savings accounts. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.
