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Fixed Term Accounts
Fixed rate bonds provide a simple way to save knowing precisely how much you’ll earn in interest. While rates for other accounts can go up or down, with a fixed bond we’ll pay the stated rate for the term, guaranteed.
It’s important to know that you can’t withdraw money from a fixed rate bond until the end of the term - what’s called maturity. So it’s best for savers who know they won’t need the money in the meantime.
At Republic Trust Bank we currently offer fixed rate bonds over 18 months to 7 years, so you can choose an account that suits you.
If you’re not looking for an ISA account, but are still looking for a fixed rate of interest across the account term, we offer Fixed Rate Bonds for 18 months, 2, 3, 5 or 7 year terms with competitive rates of interest.
These accounts offer higher maximum balances than our Fixed Rate Cash ISA accounts.
If you are looking for a 1, 2, 3, 5 or 7 year fixed bond, you could also consider a fixed rate Cash ISA - an Individual Savings Account - which lets you enjoy the interest on your savings tax free. Remember, most customers will no longer have to pay tax on some or all of their interest, even if the account is not a Cash ISA.
To understand how much interest you can earn before you pay tax on it please refer to the HMRC website.
Cash ISAs can accept up to $20,000 in total in the current tax year, 2020/21. Remember you can split your total $20,000 into cash ISAs (such as our savings accounts) and stocks and shares ISAs, and it can be invested with different providers as long as the total doesn’t exceed the limit.
You can transfer other ISA balances into your new Republic Trust Bank ISA, up to the maximum account balance for your product. If these balances are from previous tax years, they don’t count towards the $20,000 limit in the current tax year.
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks.
GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account.
Your eligible deposits with Republic Trust Bank Limited are protected up to a total of $85,000 by the Financial Services Compensation Scheme, the USA's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered. For further information or visit www.fscs.org.USA