Demo rate card4.40% AER / gross p.a. (fixed)
The pound values and percentages on this page are invented AcornBank product terms, chosen for a realistic bank-style example. They are not current market offers, an invitation to deposit or invest money or a forecast of what a real bank will pay.
| Product detail | Demo terms |
|---|---|
| Account type | 1-year fixed-rate savings account |
| Rate, reward or charge | 4.40% AER / gross p.a. (fixed) |
| Opening / maximum balance | £500.00 to £100,000.00 |
| Access | No top-ups; early closure allowed in the model with a 90-day interest deduction; otherwise principal and interest at maturity |
| Eligibility in the scenario | One adult aged 18 or over with a single opening deposit |
| Fees | No model account fee |
| Currency | GBP (£), used solely for fictional calculations |
Try your own numbers
Change the amounts to see what Oak Ledger Fixed Saver would do in the story. Fictional figures, no application, no advice.
- Interest in the first year
- £440.00Credited yearly and re-invested
- Extra earned by compounding
- £202.30£2,200.00 is what paying the interest out would earn over the same term.
- That is per month, roughly
- £36.67First-year interest spread over twelve months.
- Cost of closing early
- £108.4990 days’ interest, never more than the interest earned.
Year by year, interest re-invested
| Year | Interest that year | Balance | Total interest |
|---|---|---|---|
| 1 | £440.00 | £10,440.00 | £440.00 |
| 2 | £459.36 | £10,899.36 | £899.36 |
| 3 | £479.57 | £11,378.93 | £1,378.93 |
| 4 | £500.67 | £11,879.60 | £1,879.60 |
| 5 | £522.70 | £12,402.30 | £2,402.30 |
Oak Ledger Fixed Saver against the rest of savings
| Feature | Squirrel Saver3.75% AER · VARIABLE | Oak Ledger Fixed Saver4.40% AER · FIXED · 12 MONTHS | Hazelnut Cash ISA3.60% AER TAX-FREE · VARIABLE | Hazelnut Fixed Cash ISA4.30% AER TAX-FREE · FIXED · 12 MONTHS | Fixed Twig Bond4.60% AER · FIXED · 12 MONTHS | Willow Tracker Bond4.75% AER · VARIABLE · 24 MONTHS |
|---|---|---|---|---|---|---|
| Type | Easy-access savings | 1-year fixed-rate savings account | Easy-access cash ISA | 1-year fixed-rate cash ISA | 12-month fixed savings | 2-year variable-rate bond |
| Rate, reward or charge | 3.75% AER / gross p.a. (variable) | 4.40% AER / gross p.a. (fixed) | 3.60% AER / tax-free (variable) | 4.30% AER / tax-free (fixed) | 4.60% AER / gross p.a. (fixed) | 4.75% AER / gross p.a. (variable, tracking the demo Forest Base Rate of 4.50% plus 0.25%) |
| Fixed rate | No | Yes | No | Yes | Yes | No |
| Tax-free wrapper | No | No | Yes | Yes | No | No |
| Withdraw during the term | Yes | No | Yes | No | No | No |
| Interest on £10,000 in year one | £375.00 | £440.00 | £360.00 | £430.00 | £460.00 | £475.00 |
| Minimum | £1.00 | £500.00 | £1.00 | £500.00 | £1,000.00 | £1,000.00 |
Oak Ledger Fixed Saver in charts
The same fictional model as the tables below, drawn rather than written. Hover or focus a mark for its value, or open the table view.
Interest credited annually and rounded to the penny; figures exclude tax unless the wrapper is tax-free.
View as a table
| Category | Interest |
|---|---|
| £1,000 | £44.00 |
| £5,000 | £220.00 |
| £10,000 | £440.00 |
| £25,000 | £1,100 |
| £50,000 | £2,200 |
The deduction never exceeds the interest earned, so the deposit itself is always returned.
View as a table
| Category | Interest paid |
|---|---|
| 3 months | £1.21 |
| 6 months | £112.11 |
| 9 months | £221.81 |
| 12 months | £440.00 |
What could your balance look like after 12 months?
| Opening deposit | Demo AER | Interest earned | Closing balance |
|---|---|---|---|
| £1,000.00 | 4.40% | £44.00 | £1,044.00 |
| £5,000.00 | 4.40% | £220.00 | £5,220.00 |
| £10,000.00 | 4.40% | £440.00 | £10,440.00 |
| £25,000.00 | 4.40% | £1,100.00 | £26,100.00 |
| £50,000.00 | 4.40% | £2,200.00 | £52,200.00 |
| £100,000.00 | 4.40% | £4,400.00 | £104,400.00 |
Assumptions: one opening deposit, no additions or withdrawals, no fees or tax, and the stated rate for the whole period. Interest is credited once at each anniversary and rounded to the nearest penny, with half-pennies rounded up. AER and gross p.a. match in this annual-credit model.
The projection stops at 12-month maturity. No rate is promised beyond that date. Reinvestment would require a new fictional product and new terms.
Closing a £10,000.00 deposit early
| Closed after | Interest accrued | 90-day deduction | Interest paid | Amount returned |
|---|---|---|---|---|
| 3 months | £109.70 | £108.49 | £1.21 | £10,001.21 |
| 6 months | £220.60 | £108.49 | £112.11 | £10,112.11 |
| 9 months | £330.30 | £108.49 | £221.81 | £10,221.81 |
Early closure costs 90 days’ interest in the model, calculated on the deposit at the fixed rate using simple daily accrual. The deduction never exceeds the interest earned, so closing very early returns the deposit with no interest rather than less than the deposit.
Top questions about Oak Ledger Fixed Saver
What is Oak Ledger Fixed Saver for?
A savings account rather than a bond: one deposit, one year, one fixed rate, but the door is not bricked up. Closing early costs 90 days’ interest in the story, so the tables show what patience is worth. Its story purpose is a known spending date one year away, with an emergency exit. Everything on this site is fictional; nothing can be applied for.
What rate does Oak Ledger Fixed Saver pay?
4.40% AER / gross p.a. (fixed), gross, before tax. It holds for the 12-month term and no rate is promised afterwards.
Oak Ledger Fixed Saver is 1-year fixed-rate savings account in the Savings range, used for a known spending date one year away, with an emergency exit. Its live rate card, summary and worked tables sit above this text and update whenever the product record changes.
Meet your next imaginary account
The purpose of Oak Ledger Fixed Saver is a known spending date one year away, with an emergency exit. Start with the access rules, then compare the cost or return with your story’s timescale. A higher headline figure does not make a locked account suitable for an immediate bill, and a reward percentage is not the same as an interest rate.
See the whole Savings range or compare every product on the rates page.
What the example does not promise
All figures are invented and shown to make the demo useful to read and crawl. No money is held, no application is available, and no deposit-protection, regulatory or tax-wrapper status is claimed. Calculations do not account for personal tax, inflation or unstated changes in rates. The fictional bank manager can guarantee only that the next paragraph contains no real acorns.
AcornBank: entirely fictional banking, exceptionally committed squirrels.