Previous tranches of deposit based guaranteed products

Basic plan details are available here. Always refer to the plan terms and conditions for full plan details.

Bristol & West GEB

A five-year fixed term savings account, applications had to be submitted by 31 July 2002 with the five year window starting on 14 August 2002.

  • 100% of the client's capital is guaranteed.
  • The interest payable at the end of the term is linked to the average performance of three indices - FTSE 100, Dow Jones Eurostox 50 and Nikkei 225, and will be 70% of the combined average growth of the three indices over the five years. The final return is averaged over the last 12 months to protect from short-term fluctuations.
  • The table below shows you some examples of how much the bond would be worth at maturity given different levels of averaged growth in the three Indices, based on an initial investment of £5,000.
Policy year in respect of which last premium was paid Percentage of basic gross premium paid from commencement to end of year in which last total premium was paid Percentage of basic gross premium paid from commencement to end of year in which last total premium was paid Percentage of basic gross premium paid from commencement to end of year in which last total premium was paid*
£5,000 25% 17.5% £5,875
£5,000 50% 35% £6,750
£5,000 75% 52.5% £7,625
£5,000 100% 70% £8,500
£5,000 125% 87% £9,375
£5,000 Negative Negative £5,000

 * Interest paid at maturity is shown gross and does not take account of deductions in income tax

  • The minimum investment is £2,300 and the maximum £1,000,000
  • No initial or annual charges
  • No withdrawals are permitted before the end of the Fixed Term other than closure of the GEB in the Cancellation Period or following the death of an Investor. Upon the death of a sole Investor, the GEB may be transferred into the name(s)of the deceased Investor's personal representatives or any other person nominated by the personal representatives provided that the nomination is in accordance with the deceased Investor 's instructions; or be withdrawn but if this occurs during the Fixed Term no interest will be paid in respect of the Fixed Term. Where the GEB is held in joint names and one Investor dies, the GEB automatically belongs to the surviving Investor(s).
  • Taxation - Savings Tax will be deducted at maturity. Higher Rate tax payers may have a further liability to tax at the end of the term. Non taxpayers will be able to reclaim the tax deducted or receive gross proceeds.

Guaranteed Accounts

The table below provides details of the various guaranteed accounts that have been available administered by Dunbar Bank.

Account Open date Set date Opening level Early kick-out date* Maturity date 
Zurich Guaranteed Account 7 Apr 2003 23 May 2003 FTSE 2979.8 23 May 2006 24 Nov 2008
Zurich Guaranteed Account 2 16 June 2003 25 July 2003 FTSE 4131.2 25 July 2006 27 Jan 2009
Zurich Guaranteed Account 3 Only available to Building Societies - - - -
Zurich Guaranteed Account 4 8 Sept 2003 24 Oct 2003 FTSE 4239 24 Oct 2006 27 Apr 2009
Zurich Guaranteed Account 5 10 Nov 2003 19 Dec 2003 FTSE 4412.3 19 Dec 2006 19 June 2009
Zurich Guaranteed Account 6 19 Jan 2004 5 Mar 2004 FTSE 4547.1 5 March 2007 7 Sept 2009
Guaranteed Account 13 Apr 2004 28 May 2004 FTSE 4430.7 28 May 2007 30 Nov 2009
Select Guaranteed Account 14 June 2004 30 July 2004

FTSE 4423.1

HHPI 529.2

n/a 31 Jan 2010
Select Guaranteed Account 2 6 Sep 2004 29 Oct 2004

FTSE 4624.2

HHPI 525.1

n/a 31 Jan 2010
Guaranteed Capital Account 2 1 Nov 2004 17 Dec 2004 FTSE 4696.8 17 Dec 2007 17 Dec 2010
Guaranteed Capital Account 3 14 Feb 2005 5 Apr 2005 FTSE 4942.9 5 Apr 2008 5 Apr 2011

* Kick out at 3 year anniversary if FTSE reaches 30% growth or more.

Plus 17% Deposit Account (PDA)

Available  22 July 1996 to 6 September 1996 – Possible to transfer GIB Maturity values to this product if the application was received by Dunbar Bank by 6 September 1996 and the GIB matured by 19 September 1996.

A limited offer of Bank Deposit Account held at Dunbar Bank (Sackville Street, London) and serviced in Swindon. Single premium product to provide growth after 5 years with maturity on 20 September 2001. Could be written on both Single Life or Joint Lives second death.

Benefits

If the application arrived at Dunbar Bank between 22 July 1996 and 5 August 1996 the Account will be credited by 0.5% of the original investment at maturity and 0.25% if received between 6 August 1996 and 19 August 1996. For Replacements, 1.5% of the original investment will be credited at maturity.  The original investment will be repaid at the maturity.

For each year, if both the FT-SE 100 and S&P 500 have not fallen (e.g. increase or stay the same) the account will be credited at maturity by 17% of the value of the investment plus any early bird bonus or replacement bonus.  Therefore, if the indices don't fall during the 5 years, 185% interest will be added.

  • Death Benefit - Original investment plus discounted locked-in growth or the plan can be continued until maturity
  • Charges are taken into account in setting the 17% interest. There are no further charges.
  • Taxation - Savings Tax will be deducted at maturity. Higher Rate tax payers may have a further liability to tax at the end of the term. None taxpayers will be able to reclaim the tax deducted or receive gross proceeds.
  • Trusts - Can be written in Trust.

Plus 13% Deposit Account

Only available to matured investments from Plus 17% Deposit Account and as with the original investment a limited offer of Bank Deposit Account held at Dunbar Bank (Sackville Street, London) but serviced in Swindon.

Single premium to provide growth after 5 years and maturity is on 12 October 2006. Again as with the original investment this could be written on Single Life or Joint Lives second death basis.

Benefits

The original investment will be repaid at the maturity. The client can earn up to 13% interest, gross, each year.

Dunbar Bank will take the levels of the FTSE 100 at the start and end of each quarter. Any percentage falls in each of the four quarters will result in an equivalent reduction in the 13% interest rate. For example, if the FTSE 100 rose by 1.5% in quarter 1, rose by another, 1.0% in quarter 2, then fell by 1.5% in quarter 3 before rising again by 2.5% in quarter 4, the client would earn 10.5% gross interest in that year. The 11.5% being the 13% less the 1.5% fall in quarter 3. Therefore, if the FTSE 100 does not fall in any quarter of the 5 year period, the interest earned will be 65% of the original investment.

  • Death Benefit - Original investment plus discounted locked-in growth or the plan can be continued until maturity.
  • Charges are taken into account in setting the 13% interest. There are no further charges.
  • No surrenders or withdrawals may be taken prior to the maturity date.
  • Taxation - Savings Tax will be deducted at maturity. Higher Rate tax payers may have a further liability to tax at the end of the term. Non taxpayers will be able to reclaim the tax deducted or receive gross proceeds. 
  • Trusts - Can be written in Trust.

Plus 12% Deposit Account

Two tranches of the 12% Deposit have been available:

  • 1st - 5 November 2001 to 7 December 2001 
  • 2nd - 16 January 2002 to 25 February 2002

Both were limited offers of a Bank Deposit Account held at Dunbar Bank (Sackville Street, London) and serviced in Swindon, to provide growth after 5 years with maturity on 14 December 2006 for the first tranche and 1 March 2007 for the second. They could be written on Single Life or Joint Life second death basis.

Benefits

  • The original investment will be repaid at the maturity on either 14 December 2006 or 1 March 2007. The client can earn up to 12% interest, gross, each year. Dunbar Bank will take the levels of the FTSE 100 at the start and end of each quarter. Any percentage falls in each of the four quarters will result in an equivalent reduction in the 12% interest rate. For example, if the FTSE 100 rose by 1.5% in quarter 1, rose by another, 1.0% in quarter 2, then fell by 1.5% in quarter 3 before rising again by 2.5% in quarter 4, the client would earn 10.5% gross interest in that year. The 10.5% being the 12% less the 1.5% fall in quarter 3. 
  • If the FTSE 100 does not fall in any quarter of the 5 year period, the interest earned will be 60% of the original investment. 
  • Death Benefit is the original investment plus discounted locked-in growth or the plan can be continued until maturity. 
  • Charges are taken into account in setting the 12% interest.  There are no further charges.
  • No surrenders or withdrawals.
  • Taxation - Savings Tax will be deducted at maturity. Higher Rate tax payers may have a further liability to tax at the end of the term. Non taxpayers will be able to reclaim the tax deducted or receive gross proceeds.
  • Trusts - Can be written in Trust.

Stockmarket Growth Account (PDB)

Available 13 January 1997 to 28 February 1997 inclusive.

A limited offer of Bank Deposit Account held at Dunbar Bank (Sackville Street. London) and serviced in Swindon. To provide growth after 6 years with maturity on 14 March 2003. Could be written on Single Life or Joint lives last death with up to 4 owners. Possible to be written in Trust and can also be held with in a SIPP or SASS.

  • Age range 3 months attained to 85 years attained. 
  • No surrenders or withdrawals permitted, proceeds are payable at end of term (14 March 2003), upon prior death the Plan can be continued by the executors until Maturity. 
  • If the application arrived at Dunbar Bank between 13 January 1997 and 7 February 1997 the Account will be credited by 0.5% of the original investment at maturity or 0.25% if received between 8 February 1997 and 21 February 1997 “the Early Bird Bonus.”
    For Replacements, 1.5% of the original investment will be credited at maturity ”the Reinvestment Bonus.” 
  • The original investment will be repaid at the maturity plus bonus (as above) if applicable.
    Interest will be calculated at close of business on 14 March 2003 as being the higher of any increase in the:
    FT-SE 100 Index over the period from close of business on 14 March 1997 and the mean average level of the FT-SE 100 index at close of business on each date when the index is calculated during the period 15 March 2002 and 14 March 2003, both dates inclusive;
    or,
    Retail Price Index (RPI) during the period January 1997 and January 2003, both dates inclusive.
    The percentage interest rate used will be truncated to 2 decimal places, e.g. a calculated rate of 150.255% would be truncated to 150.25%.
    The amount of interest paid will be truncated to the nearest penny. If both the FT-SE 100 and RPI indices fall over the period, the minimum that will be returned will be the initial investment plus any Early Bird Bonus and Reinvestment Bonus. 
  • Charges are taken into account in setting the Stockmarket Growth interest.  There are no further charges. 
  • Savings Tax will be deducted at maturity.  Higher rate tax payers may have a further liability to tax at the end of the term.  Non tax payers will be able to reclaim the tax deducted or receive gross proceeds. 

TESSA

The Dunbar Bank TESSA was a Tax Exempt Special Savings Account that was available from 4th January 1996. All records are held by Dunbar Bank in Sackville Street, London.

It paid two rates of interest subject to the Capital amount invested;

£9000(maximum permitted investment) @ Bank Base Rate plus 0.5 % guaranteed and £8999 and below @ Bank Base Rate less 0.75 % guaranteed.

The higher rate applies from the day that the total investment ( including the Feeder Account (see below) balance if there is one) reaches £9000.

  • For investments of over £3000 ( the maximum amount permitted , under TESSA Rules, to be invested in the first year of a TESSA (but see Follow-Up TESSA below)) the TESSA account is supplemented by a Feeder Account (see below). Designed to provide clients with a tax efficient method of saving either a lump sum, or regular/periodic contributions at a competitive rate of interest. It is designed to attract money which clients feel able to leave for 5 years but can access if they need to - the notice period for withdrawals is one calendar month. Typically clients' 'rainy day' money would be lodged in the TESSA.
  • The term of the TESSA is 5 years although withdrawals (up to complete closure or transfer of the account) can be taken at any time subject to a notice period of one calendar month. Transfer of a Dunbar Bank TESSA to another company's TESSA would also incur an administration charge of £25. 
  • Clients can deposit from £50 to £9000 (£9000 subject to TESSA 'roll over' regulations provided they do not withdraw any of the capital for 5 years), at the end of the 5 year term all interest accrued is tax free. 
  • If clients do withdraw any part of the capital during the 5 year term then the account forfeits its tax exempt status and all interest is credited net of tax - in effect it becomes a normal deposit account. 
  • On Maturity, the account will convert to a normal Dunbar Bank deposit Account, paying interest net of tax at the Bank's call deposit rate, until the proceeds are claimed by the client. Clients will be written to in advance of the Maturity Date to request instructions from them as to what action they wish to take at Maturity. 
  • The account does not provide for regular income payments although interest can be withdrawn, at any time, during the term without loss of the tax Exempt status subject to giving one calendar months notice. 
  • The Feeder Account is an account which can be used to fund automatically the TESSA, subject to the maximum permitted investment per year, over the 5 year period i.e. the client can deposit a sum to fund the full 5 year term up to the maximum and accrue interest on the 'balance' during the period prior to its investment into the TESSA Account - this period will, however, not be tax free - tax will be deducted from interest paid whilst funds are held in the Feeder Account. 
  • Maximum Investment amounts permitted per year into a new TESSA
    Year 1 £3000
    Year 2 £1800
    Year 3 £1800
    Year 4 £1800
    Year 5 £1800 however this is subject to the total investment not exceeding £9000 (i.e. if the client has invested the maximum amount every year he / she could only invest £600 in year 5) 
  • Follow Up TESSAs ~ It is possible to open a TESSA using the proceeds of a previous TESSA which has matured. In such situations the new TESSA can receive up to £9000 (or the maturity value of the old TESSA ( less any interest /bonuses accrued ) if less ) directly into the new TESSA account in year 1 i.e. the annual maximum do not apply excepting that the total investment can never exceed £9000. 
  • There are no surrender charges as such - the only requirement is to give one calendar months notice of closure. However, on closure prior to the expiry of the 5 year term, the account will forfeit its tax exempt status. 
  • It is possible to transfer the TESSA to another TESSA provider without forfeiting the tax exempt status ( provided the TESSA rules are not broken e.g. any one individual can only hold one TESSA at any one time ). If a client wishes to transfer then the one calendar months notice applies and, in addition, an administration charge of £25 will be made. 
  • Interest is calculated on the closing balance of the account (TESSA account and Feeder account separately where appropriate ) each day using the rate of interest applicable given the balance held and the Base rate at the time.
  • Interest is credited to the Account ( incl. feeder Account if appropriate) on each anniversary of the commencement date. Interest is Tax free for the TESSA Account but will be credited tax paid on balances in the Feeder Account.

Taxation

  • If the capital invested remains untouched until the maturity date interest accruing will be paid tax free for the period that the money was lodged in the TESSA account (Interest for any periods lodged in the Feeder Account will be paid net of tax).
  • Once accrued and credited interest can be withdrawn without compromising the TESSA's tax free status . Such Interest will however be paid net of tax initially and the tax deducted will be paid to the client at the maturity of the TESSA account provided the tax exempt status of the account is maintained e.g. none of the capital is withdrawn.