The JN Bank Fixed Term Savings Accounts

  • Competitive rates of interest up to 2.22% AER fixed
  • Fixed Rate term deposits, from 1 to 5 years
  • Maximum 11 deposits: £100,000 total during first 14 days
  • Customer limit of £100,000 (can be spread across multiple Savings Accounts)
  • Minimum opening balance for 1 year term: £100
  • Minimum opening balance for 15 month, 2, 3, 4 and 5 year terms: £1,000
  • No early withdrawals
  • View your savings account online whenever you want
Interest rate Term Deposit Withdrawals Account servicing Interest
1.60% gross AERⱡ fixed 1 Year £100* minimum, maximum £100,000 None Online Calculated daily, paid annually
1.65% gross AERⱡ fixed 15 Months £1,000** minimum, maximum £100,000 None Online Calculated daily, paid annually and at maturity
2.11% gross AERⱡ fixed 2 Year £1,000** minimum, maximum £100,000 None Online Calculated daily, paid annually
2.20% gross AERⱡ fixed 3 Year £1,000** minimum, maximum £100,000 None Online Calculated daily, paid annually
2.21% gross AERⱡ fixed 4 Year £1,000** minimum, maximum £100,000 None Online Calculated daily, paid annually
2.22% gross AERⱡ fixed 5 Year £1,000** minimum, maximum £100,000 None Online Calculated daily, paid annually
Interest rate Term Deposit
1.60% gross AERⱡ fixed 1 Year £100* minimum, maximum £100,000
1.65% gross AERⱡ fixed 15 Months £1,000** minimum, maximum £100,000
2.11% gross AERⱡ fixed 2 Year £1,000** minimum, maximum £100,000
2.20% gross AERⱡ fixed 3 Year £1,000** minimum, maximum £100,000
2.21% gross AERⱡ fixed 4 Year £1,000** minimum, maximum £100,000
2.22% gross AERⱡ fixed 5 Year £1,000** minimum, maximum £100,000
Withdrawals
None
Account servicing
Online
Interest
Calculated daily, paid annually
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year.  Gross interest is the interest rate paid without the deduction of income tax.
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You can apply for a JN Bank Fixed Term Savings account if you:
• Are over the age of 18
• Are a UK resident
• Have a UK mobile phone number and an email address
• Have a UK bank account from / to which you can make transfers
• Transfer at least £100 within 14 days of opening a 1 Year Term, or £1,000 within 14 days of opening a 15 Month, 2, 3, 4, 5 Year Term
Please note: interest is paid annually; there is no early withdrawal entitlement; the account must be opened in sole name only;
* You can only make a maximum of 11 deposits of at least £100; which must be within 14 days, otherwise it will be automatically closed.
** You can only make a maximum of 11 deposits of at least £1,000; which must be within 14 days, otherwise it will be automatically closed.
ⱡ Interest rates are correct at the time of publication but may change in the future.
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What is the interest rate?

Term

Minimum / Maximum Balance

AER / Gross p.a.

1 year

£100 - £100,000

1.60%

15 month

£1,000 - £100,000

1.65%

2 years

£1,000 - £100,000

2.11%

3 years

£1,000 - £100,000

2.20%

4 years

£1,000 - £100,000

2.21%

5 years

£1,000 - £100,000

2.22%
  • Interest is calculated daily and paid on the anniversary of the initial deposit, and at maturity for our 15 month account, to your JN Bank Fixed Term Savings Account.
  • You can check the interest rate applicable to your account on any day by logging into internet banking.
  • AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year.  Gross interest is the interest rate paid without the deduction of income tax.

Can JN Bank change the interest rate?

Rates are fixed until the maturity date.  For further information please refer to clause 4 of our JN Bank Fixed Term Savings Account Specific Terms and Conditions.

What would the estimated balance be on the following:

Term

Based on an Initial Deposit of

Projected Return

1 year

£1,000

£1,016.00

15 month

£1,000

£1,021.69

2 years

£1,000

£1,042.64

3 years

£1,000

£1,067.46

4 years

£1,000

£1,091.37

5 years

£1,000

£1,116.04

Please remember that any interest earned on your account is paid annually to your JN Bank Fixed Term Savings Account. This example is provided as an illustration only and does not take into account individual customers' circumstances.

How do I open and manage my account?
  • You can open and manage your JN Bank Fixed Term Savings Account online here or by contacting Customer Services on 0808 196 1945.
  • You must be aged 18 or over and be a UK resident to open a JN Bank savings account.
  • The minimum amount you can deposit in the account is £100 or £1,000, depending on the term that you select.
  • The maximum amount that can be deposited in the account is £100,000
  • You must invest a minimum of £100 or £1,000 (depending on the term) within 14 days of account opening to ensure that your account remains open and that you benefit from the advertised rate of interest.
  • Once you have opened your account, you can make a maximum of 11 lump sum deposits to fund your JN Bank Fixed Term Savings Account.
  • No additional deposits may be made after your initial 11 deposits.
  • You can deposit into your JN Bank Fixed Term Savings Account in two ways:
    • Transfer money from your nominated account; or
    • Transfer funds direct from your existing JN Bank savings account.

Can I withdraw money?
  • You will not be able to make any withdrawals from this account until the fixed rate period ends.
  • We will notify you 21 days before the fixed rate period has ended and ask you what you would like us to do with your money. You will be able to open another JN Bank savings account and have your funds deposited into this new account, or we will be able to transfer your money to your nominated account held in your name with another provider. If you do not provide us with an instruction, your funds will earn interest at the same rate as our JN Bank Easy Access Savings Account until instructions are provided.

Additional Information
  • The maximum that any customer can hold across their JN Bank Fixed Term Savings Accounts is £100,000.
  • You will not be able to close or switch your JN Bank Fixed Term Savings Account before its maturity date.
  • We will write to you 21 days prior to maturity to advise you of the options available to you.
  • Interest is paid gross.
  • If you earn more interest than the Personal Savings Allowance, you may have to pay extra tax yourself.
  • The Personal Savings Allowance is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers.
  • Additional rate taxpayers don’t receive a Personal Savings Allowance.
  • You may need to pay tax on any interest that exceeds the Personal Savings Allowance.  Please contact HMRC if you need more information.
  • An account with JN Bank in the UK does not confer any membership rights with the JN Group.
  • Customer Services are available from 2-8pm 7 days a week on 0808 196 1945 or alternatively you can email customerservice@jnbank.co.uk
16/03/2022
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