Fixed Rate e-Bonds interest rates and account information

Managing your money

1. You must be aged 16 or over to open the account.
2. The account can have a maximum of two account holders.
3. The minimum initial deposits are as follows:
   1. e-Bond and Loyalty 2 Year e-Bond - £1
   2. Tracker e-Bond - £100
   3. Stepped Rate e-Bond - £5,000
4. The maximum balance in the account is £5 million.
5. You may hold more than one account as long as the total balance does not exceed £5 million.
6. The account can only be opened by a transfer from a Rafidain Bank current account through the Internet Bank or by a transfer from the e-Bond maturity account. The account must be opened and held in the same names as the current account used to open it.
7. The account can be viewed on the Internet Bank and no certificate will be issued.
8. We may from time to time issue other fixed rate or fixed term accounts at different interest rates or terms without offering you the opportunity to transfer your deposit to the new account.
9. We will only communicate confidential information through secure browser based messages on the Internet Banking site or through the post.
10. The account cannot be operated by a trustee or Power of Attorney and cannot be opened with a Rafidain Bank current account that is run by a Power of Attorney unless we have evidence of physical or mental incapacity.
11. Part withdrawals and additional deposits after the initial deposit are not permitted during the term of the account.
12. For accounts opened on or after 8 November 2013, on maturity, the balance in the account together with interest will automatically be converted to a savings maturity account, from which you will have instant access to remove your funds. For accounts opened before 8 November 2013, on maturity, the balance in the account together with interest will automatically be converted to an e-Bond maturity account on the Internet Bank and will earn interest at the rate applying to our e-Savings account, details of which can be found at www.rafidainuk.com or by calling +44 783 974 9373. Transfers from this account may be made without notice or loss of interest. We will contact you with more information before your e-Bond matures. No deposits can be made to the e-Bond maturity account except at the time of roll-over into a new e-Bond.
13. The account is for a fixed term of 6 or 18 months, 1, 2, 3, 4 or 5 years starting on the date the account is opened and ending after 6 or 18 calendar months or on the first, second, third, fourth or fifth anniversary of the opening of the account, depending on the bond chosen. We only offer the Loyalty 2 Year e-Bond for a two year fixed term.