Saga Fixed Rate Savings Accounts
Savings with fixed interest rates
UP TO 4.00% AER*†
UP TO 4.00% AER*†
Saga Fixed Rate Savings Accounts, provided by Birmingham Midshires, are ideal if you want to be sure of the exact rate of interest your deposit will earn.
Our Fixed Rate Savings Accounts are for simple lump sum deposits designed for those looking for an attractive fixed rate.
Benefits of the Saga
Fixed Rate Savings Accounts
- An attractive, fixed rate of interest
- Deposit anything between £1 and £10 million per investor
- A choice of interest options and saving terms
- For terms 2 years or more, withdrawals are allowed subject to a loss of interest on the amount withdrawn. Please refer to Withdrawal Information below.
To apply for one of our Internet Fixed Rate Savings Accounts click the apply now button
To apply for one of our Telephone/Postal Fixed Rate Savings Accounts call the Saga Savings Team on
0845 850 0664
Lines are open 8am – 8pm, Monday to Saturday
Or
For more information on the Saga Fixed Rate Savings Accounts
Withdrawal information
| Length of remaining term at the time of closure/access | 1 year or less | Up to 2 years | Up to 3 years |
|---|---|---|---|
| Early access charge on the amount withdrawn – equivalent in days gross interest | 90 days | 180 days | 270 days |
Saga Fixed Rate Savings Accounts (Postal)
| Yearly Interest | Monthly Interest | |||||
|---|---|---|---|---|---|---|
| Term | How do I apply? | Gross p.a.**/ AER%* |
Net%^ | Gross p.a.**/ AER%* |
Net%^ | |
| 2 years | Telephone or Online | 3.40 | 2.72 | 3.35/3.40 | 2.68 |  |
| 3 years | Telephone or Online | 4.00 | 3.20 | 3.93/4.00 | 3.14 | |
Rates correct as at 11 June 2010
Saga Internet Fixed Rate Savings Accounts
| Yearly Interest | Monthly Interest | |||||
|---|---|---|---|---|---|---|
| Term | How do I apply? | Gross p.a.**/ AER%* |
Net%^ | Gross p.a.**/ AER%* |
Net%^ | |
| 2 years | Online | 3.40 | 2.72 | 3.35/3.40 | 2.68 | |
| 3 years | Online | 4.00 | 3.20 | 3.93/4.00 | 3.14 | |
Rates correct as at 11 June 2010
Things to note about Fixed Rate Savings Accounts
- You can apply for yearly interest or monthly interest
- For yearly accounts your interest will be paid yearly on the anniversary of the first deposit. For monthly interest accounts, interest is paid on the first day of each month. Interest can be paid back into the account, transferred to an external bank account or into one of our easy access savings accounts.
- To take full advantage of this offer, your initial deposit should be for the full amount you would like to deposit
- Additional deposits will only be allowed whilst the issue remains open
- Please note that these savings accounts are not covered by a 14 day money back guarantee
- Each issue of this type of account has a limited amount of money that can be deposited in it, so please invest early before the issue is fully subscribed
- The Saga Fixed Rate Savings Accounts are available only to UK residents aged 50 and over.
*AER stands for Annual Equivalent Rate and illustrates what the rate of interest would be if interest was paid and compounded once each year.
† 4.00% AER refers to the Saga 3 Year Fixed Rate Savings Account.
**Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.
^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 more tax is deducted than you have to pay this can be reclaimed from HMRC.
Calls may be monitored and recorded for security and training purposes.
Birmingham Midshires is a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered on the FSA Register and its number is 169628. Registered office: The Mound, Edinburgh, EH1 1YZ (Registered in Scotland No. SC327000).
Saga Personal Finance is authorised and regulated by the Financial Services Authority, is registered in England and Wales (Company No: 3023493) and is a wholly owned subsidiary of Saga Group Limited. Registered Office: Enbrook Park, Sandgate, Folkestone, Kent, CT20 3SE.