How do I open and manage the account?
It's easy to apply by post, you can pay money into your account by cheque or electronic bank transfer (details are on the application form). To open a Fixed Term Deposit, businesses need to deposit between a minimum of £100,000 and maximum of £5 million.
Managing your account is easy too. Simply call or write to us and we'll help with any questions or instructions.
Can I withdraw money?
You can't take money out of a Fixed Term Deposit, so you need to be sure you're comfortable locking it away until the end of the term.
At that time, you can choose to reinvest your funds with us or have the money paid into your nominated business bank account.
What happens at maturity?
We'll contact you on the day your fixed term ends and explain your options. You can instruct us to reinvest your business' money into another account or have it paid into your company's nominated bank account.
Tax information. We do not currently deduct tax from any interest paid to you. Tax benefits depend on individual circumstances and could change in the future.
¹ Assumptions: (1) the initial deposit shown is deposited at the time the account is opened.