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Saga 1 Year Fixed Rate Saver

Lock your savings away for a set period and know exactly how much you’ll earn in interest by the end of the term. Saga Savings accounts, provided by Goldman Sachs International Bank, are available to UK residents aged 50 and over.

Saga 1 Year Fixed Rate Saver

The benefits

  • 1.15% AER/Gross* (fixed)
  • A fixed interest rate that you can rely on
  • Start saving from £1
  • A fixed rate of interest for 12 months.

The Saga 1 Year Fixed Rate Saver allows you to save money at a fixed rate of interest for 12 months.

Once you’ve opened your account, you have 14 days to make as many deposits as you like, up to a maximum account balance of £100,000. At the end of the 14 days, you stop paying into the account. Interest is calculated daily and paid at the end of the term.

To benefit from the fixed rate, your account sits untouched for one year – so along with no further deposits after the first 14 days, no withdrawals can be made. If you do want to withdraw money from your account before the end of the one-year term, you can close the account and pay an early-closure fee.

What is the interest rate?

Annual interest % Gross (fixed)

1.15%

Annual interest % AER (fixed)

1.15%

What would the estimated balance be after 12 months based on a £1,000 deposit?

Product

1 Year Fixed Rate Saver

Fixed term

1 Year

Projected balance at the end of
the 1 year fixed term (fixed
interest rate of 1.15%
AER/Gross)

£1,011.50

This projection assumes that you make one payment of £1,000 into this account on the day you open it, that you do not make any withdrawals or further deposits and that interest is paid into this account at the end of the term. This is for illustrative purposes only and doesn't take into account your individual circumstances.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. Gross is the interest rate before tax is
deducted. Where we pay interest annually, your AER and gross rate will be the same.

The Saga Easy Access Savings Account and the Saga 1 Year Fixed Rate Saver are provided by Goldman Sachs International Bank. Goldman Sachs International Bank is registered in England and Wales (no. 1122503), authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Financial Services Register number for Goldman Sachs International Bank is 124659 and the registered office is at Plumtree Court, 25 Shoe Lane, London, EC4A 4AU.

Saga Personal Finance is a registered trading name of Saga Personal Finance Limited. Company Registration No. 3023493.