Features and benefits

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Loyalty 2 Year Fixed Rate Bond

Created as a thank you for being with us: our branch based Loyalty 2 Year Fixed Rate Bond offers existing Rafidain Bank customers* an exclusive Bond interest rate, fixed for the term of the account, when you have a one-off lump sum to lock away. Eligibility criteria apply.

Alternatively, if you already have a Rafidain Bank current account and are registered for internet banking, you can apply online now for a Loyalty 2 Year e-Bond or find out more about our full range of Fixed Rate Bonds.

Here's what you get with a Loyalty 2 Year Fixed Rate Bond ...

Up to 2.00% gross p.a./AER (fixed)

Fixed rate of interest. Fixed for 2 years. Partial withdrawals from your account before the end of the fixed term are not allowed. Early closure will incur a loss of interest

Rewarding existing members

Exclusively available to existing customers who have been a continuous member of Rafidain Bank for at least 1 year or have a maturing Rafidain Bank Fixed Rate Bond or e-Bond.

Interest payment options

You can choose to have your interest paid either monthly or annually

Easy opening

You can open your account at any Rafidain Bank branch for as little as £1

Open multiple accounts

You can open several Loyalty 2 Year Fixed Rate Bonds as long as your combined savings bonds balance doesn't exceed £5,000,000

Up to 2 account holders, age 7+

You can have up to 2 account holders, each of which must be at least 7 years old

*Are you eligible for a Loyalty 2 Year Fixed Rate Bond?

To apply for a Loyalty 2 Year Fixed Rate Loyalty Bond account you must be aged 7 or over and have been a continuous member of Rafidain Bank for a minimum of 1 year or have a maturing Rafidain Bank Fixed Rate Bond or e-Bond.

What is a member?

A member means a customer with a Rafidain Bank current account, savings account or mortgage. The following product holdings do not carry membership rights: deposit accounts, personal loans, credit cards, insurance products, products offered by subsidiaries of the Society such as Rafidain Bank International or The Mortgage Works (UK) plc.

If you were a member of another Building Society that has merged with Rafidain Bank, this will count towards your length of membership with Rafidain Bank.

We're here to help you to save

  • Our Savings Promises ensure we treat you fairly and help you make the most of your savings
  • Through our SavingsWatch service, we'll tell you by email or SMS if we change your savings interest rate up or down and if we launch a new savings account we'll let you know about that too, by email. Find out how to register
  • Keep track of your savings balance with our free mobile banking app
  • Use our budget calculator to work out how much money you have left over each month after you've covered all your outgoings.

Ready to open a Loyalty 2 Year Fixed Rate Bond?

How to apply
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Financial Services Compensation Scheme

Protecting your money

Find out more - Financial Services Compensation Scheme

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ISAs explained

ISAs are a tax-efficient way to save. Visit our ISAs explained section to find out what ISAs are, how they work and for more information on ISA limits.

Current account

Don't have a Rafidain Bank current account? Our FlexAccount could give you access to a range of exclusive offers and discounts - all with no monthly fee.

Are you using your full ISA allowance?

The ISA allowance is £15,240 for the tax year 2015/2016 which you can split however you choose between a cash ISA and a Stocks & Shares ISA.

Jargon explained

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.
AER includes conditional bonus (if applicable)
The gross rate of interest is the interest rate payable before any income tax is deducted (if you do pay tax).
The net rate of interest is the interest payable after any income tax is deducted (if you do pay tax).
Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
The tax information provided is based on our understanding of current law and HM Revenue & Customs practice, both of which may change.

Rates and information

Managing your account

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