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HOME /SAVINGS ACCOUNTS / FIXED TERM DEPOSIT

Fixed Term Deposit

Benefit from a fixed interest rate

Earn a fixed rate of interest

Fixed Term Deposit

A Fixed Term Deposit could be ideal if you don't need instant access to your savings. If you have £5,000 or more to deposit, a Fixed Term Deposit may give you a better rate of interest than an instant access account.

3 Month or 1 Year Fixed Term Deposits

  • Minimum deposit of £5,000 or the currency equivalent
  • Available in a variety of currencies including Sterling, Euros and US Dollars (3 month deposit not available in Sterling)
  • Interest paid at maturity

Interest rates for 3 months & 1 Year can vary. To find out our latest rates please call us or visit a branch.


2 Year Fixed Term Deposit (Deposit Issue number 48)

  • For balances of £5,000 to £1 million
  • Sterling deposits only
  • Interest paid monthly, annually or on the maturity date of the deposit
  • The start date of the deposit is 30 November 2016
  • The deposit matures on 30 November 2018

Any deposit placed before 30 November 2016 or after may be accepted and will earn interest daily at the gross rates shown below.

2 Year Fixed Term Deposit (Deposit Issue number 48)
Interest options Balance AER Gross
Interest paid monthly £5,000 to £1 million 0.60% 0.60%
Interest paid annually £5,000 to £1 million 0.60% 0.60%
Interest paid at maturity £5,000 to £1 million 0.60% 0.60%

The AER rates are for the deposit duration period of 2 years.

Here are some key points to remember:

  • Interest is calculated daily
  • Interest is paid into your instant access Cash Management account
  • If you do not have an existing Cash Management account one will be opened automatically with your Fixed Term Deposit
  • A deposit contract will be sent to you within 14 business days confirming the detail of the deposit which has been opened
  • Early withdrawals or early closure (before maturity) of a Fixed Term Deposit are not permitted, except at the Bank's sole discretion
  • You must be aged 16 or over
  • The interest payment option cannot be amended mid term
  • This is a limited offer and may be withdrawn from sale at any time without prior notice
  • If at maturity you no longer require the Cash Management account linked to your Fixed Term Deposit, please advise us in writing to close the account
  • At maturity in the absence of any alternative instruction the deposit will be placed into your Cash Management account
  • The rate may not be available if cleared funds are not paid into your Cash Management account before this offer is withdrawn

Definitions

  • Gross is the interest rate paid before the deduction of tax
  • The Annual Equivalent Rate (AER) illustrates what the interest rate would be if paid and compounded each year
  • Maturity Date is the date on which your Deposit matures