Fixed term savings for your business

Our Fixed Term Deposits (FTDs) give you attractive interest rates, offering security, commercial advantage and peace of mind. We offer a range of deposit terms and options if you are looking for competitive, fixed-term deposits for your Business or Trust Account.

We offer GBP and USD Business Fixed Term Deposit Accounts.

Good For

  • Saving a lump sum for a specific date in the future
  • Saving when you will not need to access your money before the end of the term
  • Achieving a higher rate of interest in return for locking your savings away for a fixed period

Not Good If

  • You may need access to your funds before the fixed term has ended
  • You wish to add further funds to your account over time.

More Information

  • What is the interest rate?

    UBL UK offers Fixed Term Deposit Accounts in GBP and USD denominations. Details of the interest rates, minimum and maximum deposit amounts and term lengths can be found below:

    GBP Fixed Term Deposits

     

     

    Term

    Interest Rate (AER)

    Minimum Deposit

    Maximum Deposit

    Term 1 Month

    0.05%

    £2,000

    £1m

    Term 3 Month

    0.10%

    £2,000

    £1m

    Term 6 Month

    0.15%

    £2,000

    £1m

    Term 1 Year

    2.61%

    £2,000

    £1m

    Term 2 Year

    3.76%

    £2,000

    £1m

    Term 3 Year

    3.60%

    £2,000

    £1m

    Term 4 Year

    3.06%

    £2,000

    £1m

    Term 5 Year

    3.16%

    £2,000

    £1m

    Term 7 Year

    2.30%

    £2,000

    £1m

    USD Fixed Term Deposits

     

     

    Term

    Interest Rate (AER)

    Minimum Deposit

    Maximum Deposit

    Term 1 Month

    0.50%

    $25,000

    $1m

    Term 3 Month

    0.70%

    $25,000

    $1m

    Term 6 Month

    1.20%

    $25,000

    $1m

    Term 1 Year

    1.50%

    $25,000

    $1m

    Rates correct as at 28.09.2022

    For deposits larger than the Maximum Deposit amount, please contact a member of the Customer Services Team on +44 (0) 121 753 6000 Monday to Friday from 9:15 am to 5:15 pm.

    1. You can choose to have your interest paid monthly (for 1, 2, 3, 4, 5, and 7-year FTD), annually (for 2, 3, 4, 5, and 7-year FTD), or on the maturity of the deposit for all Accounts.
    2. Interest is paid away for all frequencies and is not compounded. Please refer to the Interest Rate Sheet for Gross Rates on different interest payment options.
    3. Interest is calculated daily and credited monthly, annually, or at maturity of the deposit, depending on your selection.
    4. The interest rate frequency cannot be amended once the selection has been confirmed.
    5. Interest will be paid out to the Account you nominate at the time of account opening. This Account must be a UK bank account in your name.
    6. Should you wish to change the nominated Account during the Fixed Term Deposit, you will need to provide UBL UK with written instructions that are signed and dated by all Account holders.

    IMPORTANT NOTICE: UBL UK does not compound interest, and interest is not added to your principal amount on any selected interest payment frequency. If you have selected interest payment at maturity, at the end of your term, you will have the choice to reinvest your principal and any accrued interest into a new term or have the interest paid into your nominated account.

  • Can UBL UK change the interest rate?

    No.

    This Account has a fixed rate of interest for the term you select, and the rate will not change during this fixed period.

  • What would the estimated balance be at the end of the term based on the minimum required deposit?

    Below is an example of what the future balance might be after interest has been paid.

    GBP FIXED TERM DEPOSITS
    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 2.61% £2,052.20
    2 Year £2,000 3.06% £2,124.27
    3 Year £2,000 3.06% £2,189.28
    4 Year £2,000 3.06% £2.256.27
    5 Year £2,000 3.16% £2,336.61
    7 Year £2,000 2.30% £2,345.09
    USD FIXED TERM DEPOSITS
    1 Month $2,000 0.50% $2,000.83
    3 Month $2,000 0.70% $2,003.50
    6 Month $2,000 1.20% $2,012.00
    1 Year $2,000 1.50% $2,030.00

    UBL UK has used the following assumptions to produce the above calculations;

    1. Calculations are based on a minimum deposit of £2,000
    2. No change in the amount (no deposits, no withdrawals) for the duration of the fixed term
    3. No change to the interest rate during the fixed term (the interest rate is fixed for the term of the deposit on all Fixed Term Deposit Accounts)
    4. Interest payment on maturity

    These projections are only for illustrative purposes and do not consider individual circumstances.

  • How do I open and manage the Account?

    Eligibility:

    You must;

    • Individual applicants should be aged 18 or over
    • The business should be Sole Proprietors, Partnerships, Trusts or Private Limited Companies

    Minimum/Maximum Balance:

    • The minimum balance is £2,000 for GBP-denominated accounts and $25,000 for USD-denominated accounts
    • The maximum balance is £1,000,000 for GBP-denominated accounts and $1,000,000 for USD-denominated accounts

    How to open the Account:

    To apply for the account, you will need to Download the Application Form, complete and then return it along with verified copies of the documents mentioned in the application form:

    • Via post: FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ
    • In branch: Visit our branch

    You can contact our Customer Services Team on 0121 753 6000 Monday to Friday between 9:15 am and 5:15 pm 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.

     

    Business Banking Terms and Conditions

    How we protect your deposits

    Interest Rate Sheet

    Business Banking Schedule of Charges

     

    Managing your Account

    • Online: You may register for New Internet Banking at businessbanking.ubluk.com or download our new Mobile App by searching for 'UBL UK Business Banking' in your app store. 
    • Secure Message: when registered for internet and mobile banking, you can send secure messages directly to our team to maintain your account and give UBL UK instructions.
    • In branch: Visit our London Branch, Monday to Friday between 9:30 am and 4 pm
    • In writing: By post, sending instructions to FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ (all written instructions must be countersigned and dated by all named Account holders)
    • Telephone: You can contact our Customer Services Team Monday to Friday from 9:15 am to 5:15 pm for support
  • Can I withdraw money?

    Withdrawals are not permitted before the maturity date.

  • Additional Information

    The Account can be opened by Sole Proprietors, Limited Liability Partnerships, Trusts and Limited Companies.

    There is a 14-day cooling-off period for all Fixed Term Deposits. If you decide to cancel within the 14 days, we will not deduct Early Withdrawal Charges, but you will not be entitled to any accrued interest for the days the deposit has been with us.

How To Apply

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