e-Bond - managing your online bond account

If you have any questions about managing your e-Bond account, check the frequently asked questions below to see if we can help (just click the question and the answer will appear underneath):

• Can I pay additional deposits into my savings bonds after the opening deposit?

  You will not be able to add any further money after the activation of each bond. However, you may hold more than one e-Bond as long as the combined balance does not exceed £3,000,000.

• How do I take money out?

  You cannot make partial withdrawals from your e-Bond. Closure may be permitted subject to the terms and conditions of each individual e-Bond account.

• How do I keep track of my money?

  You will be able to view your e-Bond account within 5 days of activation via our Internet Banking service. When you activate your e-Bond you will be able to print an online confirmation which replaces a bond certificate. You can view an online statement using Internet Banking at all times

• When is my e-Bond interest paid?

  For annual e-Bonds interest is calculated daily and added to your e-Bond annually and on maturity. For monthly e-Bonds interest is calculated daily and paid monthly and on maturity to the FlexAccount used to open the account.

• I am entitled to receive interest gross, how can I arrange this?

  You need to complete and return an R85 form. For more information, see here.

• Can I have more than one e-Bond account?

  Yes, you can hold more than one e-Bond account as long as the total balance does not exceed £3,000,000.

• What happens if I close my e-Bond account prior to maturity?

  The account can be closed prior to maturity, subject to the following early access charge (these charges will not apply on closure due to the death of the account holder).

  	Term of Bond
  	1 year or less	2 years	3 years	4 years	5 years
  Early access charge	90 days	180 days	270 days	320 days	365 days

  If the term includes part of a year your early access charge will be calculated based on the next whole year e.g. 18 month term = the 2 year early access charge.

  The amount of the early access charge will depend on the term of the bond and will be equivalent to the number of days' interest as detailed in the table above. If there is insufficient earned interest, then the amount of the early access charge will be taken from the funds in the account. The funds in the account, together with any interest earned and less the early access charge, will be paid to you.

• What happens when my bond matures?

  Once your bond has matured, sign on to the Internet Bank where you can either:

  1. Reinvest in a new e-Bond. You can:
     • Reinvest all of your matured savings into a new e-Bond
     • Add funds from other accounts you hold with us
     • Add funds from held with other providers (these must be added via your FlexAccount)
     • Reinvest part of your matured savings into a new e-Bond and transfer the rest to another account you hold with us
  2. Leave the balance in your e-Bond Maturity account. You can leave the maturity funds in your e-Bond Maturity account, from where you will be able to reinvest in a new e-Bond or move your savings to another account you hold with us at any time in the future.

  
  
• What happens if I do nothing after my e-Bond has matured?

  On the day of maturity your e-Bond will automatically be transferred to an e-Bond Maturity account. The balance will remain in this account until you decide what you want to do with it. The interest earned after maturity will be the same as an e-Savings account.

• How do I change my name or address?

  There are forms available online to change your name or address. These can be found within “Other Services” on the Internet Bank. Alternatively you can pop into your local branch.