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2-Year Savings Bond – Issue 1


2 Year Savings Bond is a savings account an individual can open with a single lump sum and receive a fixed interest rate (1.90%) for two years. The fixed interest rate means that it stays the same for 24 months.

If you’re interested in opening a 2 Year Savings Bond Account, you should be aware and prepared that your investment will be locked in for the duration of your term. So, you can’t gain access to your money until the end of your bond term. The minimum deposit amount is £5,000.


Savings Bond vs ISA


2 Year Savings Bond is a short-term investment offering better returns than an ISA. However, it doesn’t provide access to savings as an ISA does. If you’re interested in a shorter term, we recommend our 1 year Savings Bond offer.



Summary Box

The Information provided is a summary of the key features of the savings account and is not intended to be a substitute for reading the terms and conditions that apply to the account.

What is the Interest Rate?1.90% Gross/1.90% AER


AER stands for Annual Equivalent Rate.  It illustrates what the interest rate would be if interest was paid and compounded each year.


Interest is variable and calculated daily.

Interest is paid into the account one year from the opening date and on maturity.


See our current interest rates for all savings accounts.

Can esbs change the Interest Rate?We may change interest rates at any time if we reasonably believe the change is needed.  Please refer to Condition 7 – Interest in the Terms and Conditions for esbs Retail Savings Accounts for further details.
What would the estimated balance be after 24 months based on a £1,000 deposit?





The projected balance based on the current interest rate, on the minimum balance of £5,000, at the end of the fixed term would be £5,191.81


This projection is provided for illustrative purposes only and does not take into account the individual circumstances of the customer.

How do I open and manage my account?


  • The account may only be opened by UK residents aged 18 or over.
  • Only one single deposit between £5,000 and £85,000 may be made into this 2 Year Savings Bond. This applies to sole named and joint Bonds.
  • To apply for a 2 Year Savings Bond – Issue 1 please read the 2 Year Savings Bond Account leaflet to ensure this account is suitable for you.  Please be certain to read the Terms and Conditions for esbs Retail Savings Accounts.
  • If you wish to open an account you can download and print an application form, apply in person in one of our branches or call our Savings Team on 01455 844422.  Please remember to provide the correct Identification and funds.
  • You can manage your account at our branches or by post.
Can I withdraw money?
  • No – no access or closure permitted prior to the date of maturity, unless on death of the saver.
Additional Information
  • Term 2 years.
  • On maturity the account balance and interest will be transferred to an instant access account unless other instructions are received. The interest rate payable on the instant access account will be variable and may be lower than this Savings Bond.
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