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Our index linked savings accounts and index linked ISAs are deposit based accounts which use an index to determine your return.

Don't miss out
These accounts are limited issues, and there is a limited amount of money that can be deposited in our index linked savings. If the limit is reached, the offer will close early.

Fixed rate bonds

If you like the idea of saving with a known rate of return, our fixed rate bonds may be the answer. They pay a fixed rate of interest during the term and let you have access subject to a loss of interest charge.

Refer to this key to help you understand the key features of these accounts.

  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Yearly interest
  • ISA transfers allowed
  • Interest on maturity
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Account and apply

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Rates

Term

Access

Features

Balance
after 12 months
(per £1k deposit)

Bonus rates

The estimated balance is for illustrative purposes only. It is based on the gross rates shown and assumes that the interest rate and rates of tax remain constant.

5 year fixed rate bond (yearly interest)5 year fixed rate bond (yearly interest)

£1

 4.40%
Gross / AER
3.52% Net

5 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Yearly interest

£1044.00

 There is no bonus available on this account.

5 year fixed rate bond (monthly interest)5 year fixed rate bond (monthly interest)

£1

 4.31%
Gross
4.40% AER
3.45% Net

5 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Monthly interest

£1043.96

 There is no bonus available on this account.

4 year fixed rate bond (yearly interest)4 year fixed rate bond (yearly interest)

£1

 4.00%
Gross / AER
3.20% Net

4 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Yearly interest

£1040.00

 There is no bonus available on this account.

4 year fixed rate bond (monthly interest)4 year fixed rate bond (monthly interest)

£1

 3.93%
Gross
4.00% AER
3.14% Net

4 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Monthly interest

£1040.02

 There is no bonus available on this account.

2 year fixed rate bond (yearly interest)2 year fixed rate bond (yearly interest)

£1

 3.60%
Gross / AER
2.88% Net

2 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Yearly interest

£1036.00

 There is no bonus available on this account.

2 year fixed rate bond (monthly interest)2 year fixed rate bond (monthly interest)

£1

 3.54%
Gross
3.60% AER
2.83% Net

2 year
  • Permitted subject to a loss of interest charge
  • Manage by post

Joint account holders available
Apply online
Apply by telephone
Monthly interest

£1035.98

 There is no bonus available on this account.
  • Single account holder only
  • Joint account holders available
  • Apply online
  • Apply by telephone
  • Monthly interest
  • Yearly interest
  • ISA transfers allowed
  • Interest on maturity

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Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

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

NET rates are illustrative only, allowing for the deduction of income tax at 20%. If you are a higher rate tax payer, you may have a further amount to pay. If we deduct more tax than you have to pay this can be reclaimed from HMRC.

Tax Free means free from personal liability to Income Tax.

For telephone line opening times, please read the information in our contact section. Calls may be monitored and recorded for security and training purposes. If you're calling from outside the UK, please dial +441902 428 311.

© Birmingham Midshires
This site is intended for UK residents unless otherwise stated.
Birmingham Midshires is a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered in the FSA's Register and its Register Number is 169628. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ.
To contact the FSA Consumer helpline, please ring 0300 500 5000 or visit www.moneyadviceservice.org.uk/.