Bonds
Investors in these Fixed Bonds Accounts will get their money back only after the expiry of the "Term" period.
| Institution | Account | Interest Rate (AER) | Term | Min | Net Interest on £50,000 | Details |
|---|---|---|---|---|---|---|
| Anglo Irish Bank | 1 Year Fixed Rate Bond[July 2007 issue] | 6.70% | 1 year | £500 | £2,680.00 |   |
| Birmingham Midshires | 1 Year Fixed Rate Bond[July 2007(2) issue] | 6.70% | 1 year | £1 | £2,680.00 | |
| Bank of Cyprus | One Year Bond [10th Issue] | 6.53% | 1 year | £1 | £2,612.00 | |
| United Trust Bank | 2 Year Fixed Rate Bond [Aug 2007 issue] | 6.50% | 2 years | £500 | £2,600.00 | |
| Halifax | 1 Year Fixed Rate Bond[July 2007(2) issue] | 6.30% | 1 year | £1 | £2,520.00 | |
- Covered by the Scheme
- Paid Annually
What is the Scheme?
The Financial Services Compensation Scheme was established under the Financial Services and Market Act 2000. The Scheme affords 100% protection to the first £2000 of a depositor's total deposits with the Institution and 90% of the next £33,000 amounting to a maximum payout of £31,700.
What is AER?
This is the Annual Equivalent Rate and specifies what the interest rate would be if interest were paid and added to the Account once a year. As every Institution which quotes an interest rate must include an AER, we are comparing like with like.
Why is Net interest quoted?
Institutions will pay interest net of Income Tax at the statutory rate (currently 20%), unless you advise them you are not liable to Income Tax and complete the appropriate Inland Revenue form.