5 Year Step Up Bond

Protect your returns

This account is no longer available to new investors.


When you want to be rewarded for long-term savings.

Designed to reward the long-term saver, this fixed-term bond pays 2.75% AER* for the first three years, and then increases to 3.00% AER* for the remaining two years.

The 5 Year Step Up Bond allows you to future-proof your savings by giving you an assured rate of return. When you know exactly what you are saving for, whether it be saving for your child’s education or your own retirement, our 5 Year Step Up Bond will ensure you get the most from your long-term savings.

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Savings interest rates

First three years at 2.75%, last two years at 3.00% AER*. Interest is paid annually.


Please read this important information about your rights under the United Kingdom’s Financial Services Compensation Scheme. 

Product features

Interest rate details

The 5 year Step Up Bond pays a competitive fixed rate of interest for the first three years and then a higher fixed rate of interest for the remaining two years. 

Term length

The term of the account is five years. You will not be able to close early or withdraw your money during the term of your account.


A minimum balance of £25,000 is required to open your 5 Year Step Up Bond. The maximum balance is £2,000,000.

How it works

All Fixed Term Deposits will be opened with an Investec E-asy Access account. This provides you with a convenient account into which your interest can be paid and your deposit can mature. This is a fee-free easy access account and pays a competitive rate of interest and allows unlimited free withdrawals. All the features of this account, including the interest rate applicable can be viewed at E-asy Access Account.

Key product information

Account name

Account name

Step Up Bond

Interest rates

Interest rates

The interest rate is 2.75% AER* fixed for three years, changing to 3.00% AER* fixed for the remaining two years. Interest is not compounded and will be paid into your nominated account annually.

Tax status

Tax status

Interest will be paid without tax being deducted from 6 April 2016. Your tax treatment of the interest receipt will depend on your individual circumstances and if you have any specific tax questions, you should seek professional tax advice. Alternatively, further guidance can be found on the HMRC website.

Please note that your tax treatment may be subject to change in the future.



No early closure or withdrawals permitted.



Access to account information via online and telephone banking.

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Investec Financial Services Compensation Scheme

Your protection

Financial Services Compensation Scheme

Your eligible deposits are protected under the UK’s Financial Services Compensation Scheme (FSCS).