Our Fixed Term Deposits (FTDs) give you very attractive rates of interest, offering security, commercial advantage and peace of mind.If you’re looking for competitive, fixed-term deposits for your Business or Trust account, we currently offer a range of investment terms and options.
We offer GBP and USD Business Fixed Term Deposit Accounts.
It is a fixed rate as shown in the table below:-
GBP Fixed Term Deposits
Term | Interest Rate (AER/Gross) |
1 Month | 0.05% |
3 Month | 0.10% |
6 Month | 0.15% |
1 Year | 0.48% |
2 Year | 0.55% |
3 Year | 0.85% |
5 Year | 1.25% |
7 Year | 1.00% |
USD Fixed Term Deposits
Term | Interest Rate (AER/Gross) |
1 Month | 0.25% |
3 Month | 0.35% |
6 Month | 0.60% |
1 Year | 0.75% |
Rates correct as at 22.02.2021
You can choose to have your interest paid monthly (for 1, 2, 3, 5, and 7 year FTD), annually (for 2, 3, 5, and 7 year FTD), or maturity of the deposit. Please refer to Interest Rate Sheet for Gross Rates on different interest payment options.
Interest is calculated daily and credited monthly, annually, or at maturity of the deposit depending on your selection. This cannot be amended once the selection is confirmed.
Interest will be paid out to an account nominated by you at the time of account opening. This account must be in your name.
Interest is not added to your principal amount at the selected frequency unless you have selected interest payment at maturity.
No. This account has a fixed rate of interest so the rate will not change during the term.
Below is an example of what the future balance might be after interest has been paid.
GBP FIXED TERM DEPOSITS | |||
---|---|---|---|
TERM | MIN. DEPOSIT | INTEREST RATE (AER) | BALANCE AT THE END OF TERM |
1 Month | £2,000 | 0.05% | £2,000.08 |
3 Month | £2,000 | 0.10% | £2,000.54 |
6 Month | £2,000 | 0.15% | £2,001.50 |
1 Year | £2,000 | 0.48% | £2,009.60 |
2 Year | £2,000 | 0.55% | £2,022.00 |
3 Year | £2,000 | 0.85% | £2,051.00 |
5 Year | £2,000 | 1.25% | £2,125.00 |
7 Year | £2,000 | 1.00% | £2,100.00 |
USD FIXED TERM DEPOSITS | |||
---|---|---|---|
TERM | MIN. DEPOSIT | INTEREST RATE (AER) | BALANCE AT THE END OF TERM |
1 Month | $2,000 | 0.25% | $2,000.42 |
3 Month | $2,000 | 0.35% | $2,001.75 |
6 Month | $2,000 | 0.60% | $2,006.00 |
1 Year | $2,000 | 0.75% | $2,015.00 |
Assumptions taken for above calculations;
These projections are provided for illustrative purposes only and do not take into account individual circumstances.
Rates correct at 22.02.2021
Eligibility:
You must be;
Minimum/Maximum Balance:
How to open the Account:
In order to apply for the account, you will need to Download the Application Form, complete and then return it along with verified copies of your Photo ID and either a Bank Statement or Utility Bill with your home address dated within the last 3 months in the following ways:
You can contact our Customer Services Team on 0121 753 6000 Monday to Friday between 9:15am and 5:15pm for more information.
Please make sure that you read the Business Banking Terms and Conditions before you apply for this Account.
More information about ID and Verification can be found here
This account can be held in single or joint names.
Some business transactions will incur a fee, the fees attributed to this Account can be found in the Business Banking Schedule of Charges
The Account can be opened by Sole Proprietors, Limited Liability Partnerships, Trusts and Limited Companies.
Complete our online Enquiry Form and a member of the team will be in touch.
Use the Branch Finder to locate your nearest branch.