The Freestyle Bond will appeal to anyone who is looking for a straightforward, lump sum investment. Our Bond is for a fixed term of one year with a variable rate of interest.

How much can I save?

The minimum investment is £2,000 and you may hold, either by yourself, jointly with others or in trust for personal beneficiaries, up to £50,000 in Freestyle Bonds.

The Bond is designed for funds that can be tied up for a period of one year. For this reason, if you expect to make any withdrawals we suggest that you choose one of our other products.

You may have more than one Bond at any one time.

A Bond Certificate will be issued, which will give you a record of your investment and this must be presented on maturity. We will write to you shortly before your Freestyle Bond matures, offering you a number of reinvestment options.

How is interest paid?

Your Bond will mature on the anniversary of the date when you opened it. The interest rate is variable and interest will be paid on maturity. The interest can be added to your balance (if reinvesting) or, if you choose, transferred to another account - or sent by cheque to you at home.

Interest will be paid net of income tax at the rate required by law, or subject to the required certification, gross.

Full information on how you can receive interest without tax being deducted is available on request.

Paying money in

Once the Bond has been opened no further amounts can be added. You can open additional Bonds with a minimum balance of £2,000 up to a total Bond holding of £50,000.

If you are opening your Bond with a cheque it will take six working days to clear from the day after receipt. You will also earn interest from the day after receipt.

Taking money out

Although this is a one year Bond, we do recognise that due to unforeseen circumstances you may require access to your funds before your Bond matures.

Withdrawals are possible so long as a minimum of £2,000 remains after the withdrawal. All withdrawals and early closure are subject to 90 days' loss of interest.

Just present your Bond Certificate at one of our Branches, or to make a withdrawal by post, forward your Bond Certificate together with either a completed withdrawal form or covering letter detailing your requirements.

You can withdraw up to £250 in cash per day over the counter or a maximum of £10,000 by cheque per day.

If you would like a cheque for a larger amount, please let us know in advance as special arrangements may need to be made.

Opening an account

Simply download the Freestyle Bond Account leaflet on this page and complete the Application and Declaration form. Return these together with your deposit and identification to open your account.