Fixed 3 Year Saver

at a rate of 2.60% AER Gross

Account

Gross Annual Interest

Gross Monthly Interest

AER

Availability

Fixed 3 Year Saver

2.60%

2.57%

2.60%

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Fixed 3 Year Saver - Summary Box

Account name	Ikano Bank Fixed 3 Year Saver Account
What is the interest rate?	Annual Gross/AER* 2.60% / 2.60%	Monthly Gross/AER* 2.57% / 2.60%
	Interest paid on: the anniversary of the initial deposit into your account (or if interest is to be paid to your nominated account then on the next business day if it doesn't fall on a business day)	Interest paid on: the day of the month of the initial deposit into your account (or if interest is to be paid to your nominated account then on the next business day if it doesn't fall on a business day)
Can Ikano Bank change the interest rate?	No - The interest rate will not change during the term of the account
What would be the estimated balance on maturity date based on a £1,000 deposit?	Annually £1,080.05	Monthly £1,080.05
	Please note: This projection is provided for illustrative purposes only and does not take into account customer's individual circumstances. This projection is based on an initial £1,000 deposit with any interest added to the account and assumes no further deposits or withdrawals are made.
How do I open and manage my account?	Opening your account: Paying money into your account:	Online only - You need to have a UK current account in your name, which you can use as your 'nominated' account. You must make one payment of at least £1,000 to your account within 14 days of applying. As an existing customer you can simply open additional accounts by logging into your Ikano Bank savings account. Within 14 days of applying, you can transfer money from your nominated account using one-off electronic payments.
	Minimum Opening Deposit: £1,000 Minimum regular deposit: Not applicable	Maximum Opening Deposit: £1,000,000 Maximum regular deposit: Not applicable Maximum Overall Account Balance: £1,000,000
Can I withdraw money?	No - You can't withdraw money from Ikano Bank Fixed Saver accounts prior to the maturity date. In exceptional circumstances we may consider waiving this but we aren't obliged to do so.

*Gross interest - From the 6th April, no tax will be deducted by us and therefore gross is the rate of interest if interest was paid and not compounded each year.
**AER - stands for Annual Equivalent Rate and illustrates what the interest would be if the interest was paid and compounded each year.

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Important Information

Some key terms and conditions

Deposit Insurance Scheme

Personal Savings Allowance (PSA)

To open an account, you need to be over 18 and live in the UK.
You need to have a UK current account in your name, which you can use as your 'nominated account'. Your nominated account must be a personal account in your name containing a six digit sort code and eight digit account number. If you have a joint Ikano Bank Savings Account, your nominated can be in either or both account holders' names. You can update your nominated account details online at any time.
You must make one payment of at least £1,000 to your account within 14 days of applying.
The maturity date of your account will be a fixed period (the 'term' of the account) after your initial deposit is made.
At least 21 days before your account matures, we'll write to explain what you can do next. You'll be able to see your options and choose one or more by logging into your account up to 2 days before it matures.
If you don't select an option your account will become an Easy Saver account with no withdrawal restrictions. We'll tell you the interest rate as well as the terms and conditions that would apply when we write to you before maturity.

Full Terms and Conditions

FSCS Financial Sevices Compensation Scheme

From 1 January 2021 your savings are protected up to £85,000 per person by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

Find out more

From the 6th April 2016, most UK taxpayers will have a new Personal Savings Allowance (PSA). This means that up to £1,000 of savings income will be tax-free for basic rate taxpayers and up to £500 tax-free for higher rate taxpayers. Additional rate taxpayers will not be entitled to any PSA.

From 6 April we'll no longer be required to take basic rate tax from your savings interest.

There is no action for you to take. If you have savings income below your new Personal Savings Allowance you will have no tax to pay.

If your savings interest exceeds your Personal Savings Allowance, where possible HMRC will collect any tax you have to pay automatically through a change to your tax code - based on information provided by banks and building societies.

If you currently complete a self assessment tax return you should continue to do so. For further information about these changes, go to the HM Revenue & Customs website, and / or seek further advice from your accountant or tax advisor.

Fixed Savers at a glance

Account	Gross Annual Interest	Gross Monthly Interest	AER	Availability
Fixed 1 Year Saver Fixed 1 Year Saver	3.20%	3.15%	3.20%	More details
Fixed 2 Year Saver Fixed 2 Year Saver	2.90%	2.86%	2.90%	More details
Fixed 4 Year Saver Fixed 4 Year Saver	2.30%	2.28%	2.30%	More details
Fixed 5 Year Saver Fixed 5 Year Saver	2.00%	1.98%	2.00%	More details

Keeping your savings simple

Born in Sweden, Ikano has been in the UK for over 21 years; providing finance to millions of UK customers. Our customers tell us that it's better when things are kept simple – things like bonus rates, introductory offers and hidden charges cause mistrust, that's why we don't have any.

We think of your money like it's our own, you won't see us travelling first class, having big corporate lunches or taking massive bonuses. That's not how we do business.

We believe this helps keep things simple and on fair terms, so we can offer you good savings rates all of the time.

Good rates all of the time. No bonuses or introductory offers
No charges for opening or operating your account
It's easy to manage your account online or by telephone
Your savings are protected – find out more

In plain English

We like to keep things simple. We try to use plain English and avoid using jargon, so our products and services are easy to understand. If you have any questions about our savings products, please visit our FAQ section.

Frequently asked questions

For savings queries call us on:

0371 880 6182

Opening hours

Monday to Friday, 9am until 5pm

Our UK savings contact centre

Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate. Calls may be recorded for training purposes.

The actual cost you are charged will depend on your phone provider, please check with them if you're unsure.