Unlock opportunity with fixed term savings

A fixed rate bond is a savings account which pays you a guaranteed rate of interest, in exchange for you locking your money away for a set period of time. 

You cannot access your money during this time.

In return, notice accounts may offer a higher interest rate than some instant access accounts. 

This type of account may not be suitable if you need quick or regular access to your money.

You can apply for a fixed rate bond online only at www.birminghambank.com.

To be eligible, you must: 

• Be aged 18 or over

• Be a UK resident and only tax resident in the UK

• Not be a US person (including US citizens, residents, green card holders, or those subject to US tax)

• Open the account in your own name only - we don’t support joint, business, charity, or trust accounts.

Once your account is open, you have 14-days to make deposits, this is known as your funding window.

Funding Rules:

• Payments must come from your nominated UK bank account (this is the account you provided during application)

• Only Faster Payments are accepted

• We do not accept cheques, CHAPS, BACS, international transfers, or cash

• You can make multiple deposits during this period, as long as they are within the limits and sent from your nominated account.

To fund your account, use the following bank details:

• Account Number: 12756462

• Sort Code: 30-62-61 (may appear as Lloyds)

Payment Reference: Your 8-digit Birmingham Bank Account Number (found in your welcome email or Online Savings Portal)

Make sure the payment reference is entered exactly. The payment reference tells us which account to credit.

If it's incorrect or missing, your deposit may be delayed or returned.

You have 14 calendar days from the day your account is opened to fund your bond, this is called your funding window.

For example, if your bond is opened on 1st March, your deadline is 14th March. Once the 14 days have passed you can no longer make deposits into your bond.

You can make as many deposits as you'd like within the 14-day funding window, up to the maximum deposit amount.

You can find your exact deadline in your welcome email and your Online Savings Portal.

• Minimum deposit: £5,000

• Maximum deposit: £250,000

If your bond isn’t funded with at least £5,000 within the 14 days, your account will be closed and any funds will be returned to your nominated account (within 3 working days).

If you deposit more than £250,000, the excess will be returned to your nominated bank account.

You can make as many deposits as you'd like within the 14-day funding window, up to the maximum deposit amount.

No, you can only fund your fixed rate bond using your nominated bank account.

You can choose a nominated bank account when you sign up for your account and make changes any time from your Online Savings Portal.
If you're unsure which one that is, check your Online Savings Portal for more information.

Yes, if you’d like peace of mind, we recommend sending a small test payment (e.g. £1) before transferring your full deposit.

Once the amount appears in your Online Savings Portal, you’ll know your payment details are correct.

• No, early cancellation or closure is not allowed except in two cases:

• If the account holder passes away

If we make a change to the agreement that disadvantages you

If either applies, please contact us via the Chat in your Online Savings Portal, by email at savings@birminghambank.com, or by phone on 03330 048 048 (Mon–Fri, 9:00am–5:00pm).

No, interest is paid gross, without tax deducted.

You are responsible for reporting and paying any tax due.

You can read our FAQs about our maturities process here.