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Reinvestments – Fixed Term Maturities
0.42% - 2.63% AER/gross
6 to 60 months
The Financial Conduct Authority is a financial services regulator. It requires us, OakNorth Bank, to give you this important information to help you to decide whether our Personal Fixed Term Savings Accounts are right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.
You should scroll down and read all information below carefully before you apply.
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Interest is calculated daily and paid gross in full on the maturity date of your account.
No. The interest rate is fixed during the term.
*The estimated balance refers to the balance after maturity of the selected fixed term deposit
*These are only examples for illustrative purposes and do not take into account your individual circumstances.These estimates assume that the account remains open for the duration of the stated term, deposits are made in a single payment, and interest is accrued daily and applied to the account upon maturity.
Our accounts are available to individuals, aged 18 or over, who are UK residents (i.e. England, Wales, Northern Ireland and Scotland). Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.
Applications to open an account must be completed through our website here or via the OakNorth mobile banking app. Please note, joint accounts can only be opened through our online application on the website and not through the mobile app; the maximum number of account holders in a joint account is two.
The minimum deposit required to open your account is £1. The maximum deposit you may pay into any one account with us is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with us across multiple accounts is also £500,000. For a joint Account (joint accounts can only be opened through our online application on the website and not through the mobile app) this means that the maximum amount allowed to be held would be £1,000,000 i.e. £500,000 per account holder.
You can fund your account with multiple deposit payments within 14 calendar days from the day your account is approved. Once the 14 calendar day period expires, you will not be able to make any further deposits into the account. In the event you do not fund your account within the 14-day period, your account will automatically be closed.
Once you activate online banking, your account can be managed by logging into the OakNorth mobile banking app or through the ‘My Account’ section of our website. Alternatively, you can contact us by email, by phone, or by writing to us. Please refer to our website for our contact details.
No. This is a Fixed Term Deposit Account for a set period of time and our Fixed Term Deposit Accounts do not allow for funds to be withdrawn during the term of the deposit. We will contact you before the account matures to inform you of the options available for your maturing funds.
30 days and 14 days before your account matures, we will send you an email providing you a choice of options as follows:
If we do not hear from you before the account maturity date, the total amount including interest will be automatically transferred to a variable rate Easy Access Deposit account with us. See our Easy Access Deposit account page on our website for the current interest rate.
Interest will be accrued daily but only applied to your account upon maturity.
Gross rate interest is the interest payable without taking account of any tax payable.
The AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
Please note: The information provided in the Summary Box is a summary of the key features of our Fixed Term Deposit accounts. It should not be used as a substitute for our Terms and Conditions which can be found on our website.
0.35% - 1.60% AER/gross
35, 90 and 120 days
The Financial Conduct Authority is a financial services regulator. It requires us, OakNorth Bank, to give you this important information to help you to decide whether our Personal Notice Accounts are right for you. You should read this document carefully so that you understand what you are buying, and then keep it safe for future reference.
To view the current interest rates for all the Issues of Notice Accounts, please visit the Notice Account Rate Table on our website.
Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. If a withdrawal request has been made, interest will be calculated on the total amount until, but not including, the day of the withdrawal.
Yes. Interest rates are variable and can be increased or decreased at any time at our sole discretion as outlined in clause 1 of our Specific Terms and Conditions – Notice Accounts.
If we increase your interest rate, we will notify you within 30 calendar days of the increase and apply the change immediately. If we decrease your interest rate, we will notify you at least 14 calendar days in addition to the notice period as per the type of account opened, prior to the decrease.
These examples assume that no further deposits or withdrawals are made, that the interest is accrued daily and applied to the account monthly, that any interest earned stays in the account, and that there is no change to the interest rate.
The minimum deposit required to open your account is £1. The maximum deposit you may pay into any one Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with us across multiple accounts is also £500,000. For a joint Account (joint accounts can only be opened through our online application on the website and not through the mobile app) this means that the maximum amount allowed to be held would be £1,000,000 i.e. £500,000 per Account holder.
There is no limitation on the number of deposits made into your account. The account can continue to receive deposits up to the maximum principal account balance even if the product is withdrawn. We may withdraw a product at any time which means that the product will be closed to new deposit applications.
Once you activate online banking, your account can be managed by logging into the OakNorth mobile banking app or the ‘My Account‘ section of our website. Alternatively, you can contact us by email, by phone, or by writing to us. Please refer to our website for our contact details.
Yes. Although, it is subject to giving us notice as per the type of account opened. There are no limitations on the number of withdrawals. There is a minimum withdrawal amount of £1. The funds will be credited back into your nominated account the next business day after the notice period has passed.
If after withdrawing funds where the balance goes to £0, and remains £0 for a period of six months, the account will be closed. The closed account cannot be reopened and you will have to create a new account next time.
Interest will be paid gross.
Please note: The information provided in the summary box is a summary of the key features of our Notice Deposit accounts. It should not be used as a substitute for our Terms and Conditions which can be found on our website.
0.26% AER/gross
Next-day access
The Financial Conduct Authority is a financial services regulator. It requires us, OakNorth, to give you this important information to help you to decide whether our Easy Access Accounts are right for you. You should read this information carefully, together with the General Terms & Conditions and Specific Terms & Conditions for Personal Easy Access Accounts, so that you understand what you are buying, and keep it safe for future reference.
Please note: As an existing customer, OakNorth will ensure that if you choose to reinvest, you’ll receive the highest rate of interest available for each product in the 30 day period before your maturity date.
As a fully-licensed bank, we offer the same level of protection as the traditional high street banks. When you save with us your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
Dedicated customer service team
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