Barclays Saving Bonds
1-Year Fixed Rate Bond – Issue 116 Overview
Get a fixed rate of return over the term – so you always know what your savings are worth.
Provided by Barclays Bank UK PLC
- Fixed Interest Rate: Earn 4.45% AER/gross per annum.
- Interest Payment Options: Monthly or at the end of the term.
- Minimum Opening Balance: £500.
- Maximum Balance: £1 million.
- No Withdrawals: You cannot make withdrawals or additional deposits during the term.
- Application Options: Online, Barclays app, in-branch, or by phone.
Interest Rates Effective from 6 June 2024
Summary Box
Account Name
1-Year Fixed-Rate Savings Bond – Issue 116
What is the Interest Rate?
| Interest Option | Monthly Gross p.a. % | End of Term Gross p.a. % | AER % |
|---|---|---|---|
| 1 Year Term | 4.45 | 4.45 | 4.45 |
- Monthly Interest: Paid into your nominated Barclays account or by cheque.
- End-of-Term Interest: All interest paid in one tax year, potentially reaching or exceeding your Personal Savings Allowance faster.
Can Barclays Change the Interest Rate?
No, the interest rate is fixed for the 1-year term.
Estimated Balance at the End of the Term
| Deposit Amount | Monthly Estimated Value | End of Term Estimated Value |
|---|---|---|
| £1,000 | £1,044.50 | £1,044.50 |
How to Open and Manage Your Account
- Account Opening: Online, in the Barclays app, in branch, or by phone.
- Manage Account: Online, in the Barclays app, in branch, or by phone.
- Eligibility Criteria: Must be 18 years or older and a UK resident.
- Minimum Balance: £500.
- Maximum Balance: £1 million.
Can I Withdraw Money?
No, withdrawals or transfers to other accounts are not allowed during the term. Barclays will contact you before your bond matures to discuss your options.
Additional Information
- Interest Paid Gross: In accordance with UK tax legislation. You may need to pay tax on interest earned in excess of your Personal Savings Allowance.
- Tax Residency Information: You must provide details of all countries where you are a tax resident and your tax identification numbers (TINs).
Important Information
- Limited Offer: The bond is a strictly limited offer and may be withdrawn at any time.
- Additional Deposits: Not allowed during the term, but you can acquire additional bonds subject to availability.
- Tax Liability: It is your responsibility to ensure any tax due on interest payments is paid to the appropriate tax authority.