Variable Rate Bond (issue 5)

If you want a good deal on your savings, look no further than our Variable Rate Bond. It offers a competitive interest rate as well as giving you the flexibility to add to your savings throughout the term and access your funds in an emergency.

Rate guaranteed to be 1.25% p.a. above Bank of England base
One year term from date of opening the account
Minimum initial deposit of only £100
Additional deposits permitted
Withdrawals or early closure permitted subject to loss of interest on the amount withdrawn
Instant access on maturity

Interest rates
Summary box
How to apply

Apply now

Interest rates

Previous rates
( Effective 22 February 2009 )

Current rates
( Effective 29 March 2009 )

Balance (£)	Annual Interest Rates				Monthly Interest Rates
Balance (£)	Tracking rate Tracking rate shows % above/below Bank of England Base Rate.	Gross Gross rate p.a. Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate p.a. Interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.	Gross Gross rate p.a. Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate p.a. Interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
£100 and above	+1.25%	1.75%	1.40%	1.75%	1.73%	1.38%	1.75%

Previous rates
( Effective 22 February 2009 )

Current rates
( Effective 29 March 2009 )

Balance (£)	Annual Interest Rates				Monthly Interest Rates
Balance (£)	Tracking rate Tracking rate shows % above/below Bank of England Base Rate.	Gross Gross rate p.a. Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate p.a. Interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.	Gross Gross rate p.a. Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.	Net Net rate p.a. Interest rate payable after the deduction of income tax, at the lower rate of 20%.	AER AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.
£100 and above	+1.25%	2.25%	1.80%	2.25%	2.23%	1.78%	2.25%

Interest rates track the Bank of England base rate for one year, paid annually or monthly, AER guaranteed to be a percentage above base rate

Gross rate p.a.
Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration.

Net rate p.a.
Interest rate payable after the deduction of income tax, at the lower rate of 20%.

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. This will enable you to compare more easily the return you can expect from your savings over time.

Apply now

Summary box

Key Product Information for our Savings Account

Account Name	Variable Rate Bond (issue 5)
Interest rates (AERs)	Interest rates track the Bank of England base rate for one year, paid annually or monthly, view interest rate.
Tax Status	Gross Gross rate p.a. Interest rate payable before any income tax is deducted. It can only be paid subject to the required registration. or Net Net rate p.a. Interest rate payable after the deduction of income tax, at the lower rate of 20%.
Conditions for bonus payment	n/a
Withdrawal arrangements	Part withdrawal or closure permitted subject to an amount equivalent to 90 days' loss of interest on the amount withdrawn, subject to daily withdrawal limits.
Access	Branch or agency

Whether you can benefit from gross, net or tax free interest is dependent on your own personal circumstances and tax status and so may be subject to change in the future.

How to Apply for a Variable Rate Bond (issue 5)

This savings account can be operated in various ways but must be opened at a branch or via the post.

Note: When applying for a YBS account you will need to verify your identity and address. Check our Verifying your Identity section for more details of what you may need to take with you.

To open an account:

More information:

Call us on 0845 1200 100
Lines are open: 8.00am to 8.00pm Monday to Friday, 9.00am to 1.00pm on Saturday

New Security Measure

You could borrow up to

Your estimated monthly repayments will be

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