High Interest Bond
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 Frequently Asked Questions
Frequently Asked Questions
What is the High Interest Bond?
The High Interest Bond is a savings account providing a high rate of interest and is ideal for investors with a lump sum to deposit over a fixed period.		 What does AER mean?
AER means Annual Equivalent Rate. It illustrates what the interest rate would be if interest was paid and compounded each year.
Who can open a High Interest Bond?
You can open a High Interest Bond if you are a UK resident aged 18 years or over.		   What is the interest rate?
The interest rate is extremely competitive. Issue 22 is now closed following high demand, but keep checking for details of Issue 23.
Can we open a joint account?
Yes, joint accounts are available.		   What does gross rate mean?
Gross rate is the rate of interest paid yearly without deduction of tax.
How much can I deposit?
You can invest any amount between £2,000 and £250,000.		   What does net rate mean?
Net rate is the rate after the deduction of tax applicable to interest, currently 20%.

Can I make withdrawals?
The Bond is designed to provide a high interest rate over a fixed period, and withdrawals are not permitted during that time.

  

How do I make my deposit?
It’s easy to make your deposit. Call us free on 08007 31 30 31. We will send you an application pack.
Will my savings be covered by the Financial Services Compensation Scheme (FSCS)?
London Scottish Bank is a member of the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if we cannot meet our obligations. Compensation payments under this scheme amount to 100% of the first £35,000 deposited, subject to a maximum payment to any one depositor of £35,000. Further details of the scheme are available on request.
  

Where can I find out about tax?
The Inland Revenue provides advice about claiming tax back and registering to receive gross interest. Click here.


London Scottish Bank subscribes to The Banking Code which sets out the governing principles of a bank's dealings with its customers. You can obtain a copy of The Banking Code by phoning free on 08007 31 30 31. Alternatively you can download it in PDF format. London Scottish Bank is regulated by the Financial Services Authority and is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Further details of the Scheme are available on request. We are also a member of the Financial Ombudsman Service. Registered office: 201 Deansgate, Manchester M3 3NW. Reg. No: 973008 England. VAT No: 305 2620 03.