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 |
Oak Ledger Fixed Saver questions
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.
Can I take money out of Oak Ledger Fixed Saver?
No top-ups; early closure allowed in the model with a 90-day interest deduction; otherwise principal and interest at maturity. Closing early costs 90 days’ interest in the model, never more than the interest earned.
How much can I put into Oak Ledger Fixed Saver?
Opening / maximum balance: £500.00 to £100,000.00.
Does Oak Ledger Fixed Saver charge fees?
No account fee in the model. The only cost is the 90-day interest deduction for early closure.
Savings questions
Shared across the whole range.
What is the difference between a fixed and a variable rate?
A fixed rate holds for the product’s term; a variable rate can change, and the projections only hold it constant for arithmetic. The savings range has one of each in every pair: accounts, cash ISAs and bonds.
How does the demo ISA allowance work?
New money into any ISA is capped at a demo £20,000 per fictional tax year, shared across every ISA a story customer holds. Interest and growth inside the wrapper are untaxed in the model.
Can I take money out of a fixed product early?
From the two fixed accounts, yes, with a 90-day interest deduction. From the two bonds, no: the term is fixed. The easy-access account and easy-access ISA allow withdrawals at any time.
When is interest paid?
Once a year at the anniversary in the annual-credit model, which is why AER and gross p.a. match. Fixed products pay at maturity.
Is savings interest taxed?
The model deducts no tax anywhere. Non-ISA figures are gross; ISA figures are described as tax-free because the wrapper would shield them. Personal tax is outside the story.
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.
Frequently asked squeaks
The questions and answers on this page come from AcornBank’s single shared FAQ collection, so the same wording appears here, on the Savings hub and in the full FAQ list. Every answer is about a fictional product: 4.40% AER / gross p.a. (fixed) is a demo figure and nothing can be applied for. The summary and worked figures below give the numbers the answers refer to.
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.
Related reading
- This Is a Fictional Bank — No Real Banking Here
- Site Map — Every Branch of AcornBank
- Rates — Savings, Borrowing and Rewards
- Help — Unruffle Your Tail
- Savings — Pots, Bonds and Notice Hollows
- Oak Ledger Fixed Saver — Compare the Canopy
- Oak Ledger Fixed Saver — Fictional Product Terms
AcornBank: entirely fictional banking, exceptionally committed squirrels.