Term deposit and notice account products

Use the comparison table below to help you to compare the different term and notice products that we can provide for your business.

Account

Withdrawals

Minimum Deposit

Term Lengths

Important Information

Management

Account

Fixed Term Deposit

Withdrawals

No withdrawals until maturity date

Minimum Deposit

£10,000

Term Lengths

Bespoke fixed term.

Any term from overnight to 3 years.

Important Information

  • Get a fixed rate of interest
  • No withdrawals can be made or additional funds paid in during the term of the deposit.

Management

  • By phone

Account

32 Day Notice Account

Withdrawals

Withdraw £10,000 or more at 32 days notice, provided the remaining balance is over £10,000.

Minimum Deposit

£10,000

Term Lengths

No set term.

32 days notice required to close the account.

Important Information

Interest rate is subject to variation in line with the Bank of England Bank Rate.

Management

  • By phone

Apply online

This application process typically takes about 10 mins.

Follow the steps in the ‘how to apply’ section below. 

Log in and apply nowapply online securely
  • Account

     Term length

    Indicative interest rate AER*/Gross**

    Account

    Fixed Term Deposit

     Term length

    3 months

    Indicative interest rate AER*/Gross**

    0.05% (fixed)

    Account

    Fixed Term Deposit

     Term length

    6 months

    Indicative interest rate AER*/Gross**

    0.10% (fixed)

    Account

    Fixed Term Deposit

     Term length

    9 months

    Indicative interest rate AER*/Gross**

    0.15% (fixed)

    Account

    Fixed Term Deposit

     Term length

    12 months

    Indicative interest rate AER*/Gross**

    0.20% (fixed)

    Account

    Fixed Term Deposit

     Term length

    Maturity date 16/03/2021

    Indicative interest rate AER*/Gross**

    0.10% (fixed)

    Account

    Fixed Term Deposit

     Term length

    Maturity date 24/09/2021

    Indicative interest rate AER*/Gross**

    0.20% (fixed)

    Account

    Fixed Rate Term Deposit

     Term length

    Bespoke – from overnight to 3 years

    Indicative interest rate AER*/Gross**

    Account

    32 Day Notice Account

     Term length

    No set term

    32 days notice to make a withdrawal or close the account

    Indicative interest rate AER*/Gross**

    0.10% (Bank of England Bank Rate (BoE) (variable))

    The Sterling Interest rates stated above are available as at 18/09/2020 and expire on 05/11/2020 but may be subject to change. Should you need to discuss rates for alternative dates or terms, please call us on 0345 604 5539.

    * The AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate, will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

    ** Gross rate is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

    1 We only offer standard terms online for Fixed Rate Term Deposit accounts. If you would like to apply for bespoke term lengths or you need to select specific start and end dates for your deposit, call us on 0345 606 0286.

    2 Product is linked to the current Bank of England Bank Rate.

    3 Product is linked to the current Federal Funds Target Rate.

    Information on the Federal Funds Target Rate (FDTR) can be found at https://www.federalreserve.gov/4

    Please note, you will need a USD foreign currency account as your nominated settlement account for the 32 Day USD Notice Account. View our Foreign Currency Accounts and find out how to open one.

    While all reasonable care has been taken to ensure that the information provided is correct, no liability is accepted by Lloyds Bank for any loss or damage caused to any person relying on any statement or omission. This is for information only and should not be relied upon as offering advice for any set of circumstances. Specific advice should always be sought in each instance.

    These interest rates apply to deposits with a minimum balance of £10,000 and a maximum balance of £5m, and apply to deposits in sterling only. For deposits over £5m or for more information about interest rates in other major currencies, please call us on 0345 604 5539.

    Terms and conditions

    Our Terms and Conditions section contains full details of our terms and conditions, charges and associated information.

  • Terms and conditions

    Commercial Banking Markets General Terms of Business

    Commercial Banking Markets Deposit Terms and Conditions to be read in conjunction with Commercial Banking Markets General Terms of Business

    Fixed Term Deposit product information factsheet

    32 Day Notice Account product information factsheet

    32 Day USD Notice Account product information factsheet

    Calls may be monitored and recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.

    Bank of Scotland plc Registered office: The Mound, Edinburgh, EH1 1YZ. Registered in Scotland no. SC327000.

    Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.

    Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS). Please note that due to FSCS and FOS eligibility criteria not all Business customers will be covered.

  • Internet Banking users

    Apply Online

    Please follow these instructions when you click ‘Log in and apply now’

    1. Enter your login details, which will take you to the Business Internet Banking Homepage
    2. Select ‘Business savings account’ in the left hand ‘Our Products and Services menu
    3. Select ‘Apply for Term & Notice Deposits’

    Log in and Apply now

    Not registered for Internet Banking

    You can apply here for a deposit. Once we receive your application, we may need to contact you for more information if you have not previously placed a deposit.

    Apply online

    On the phone

    Call to speak to one of our specially trained advisers. We’re open from 8am to 5pm Monday to Friday. We’re closed on all UK public holidays.

    0345 604 5539

  • Contact us for more information

    Call us on 0345 604 5539

    Lines are open 8am to 5pm Monday to Friday

    Alternatively, please email us at any time.

Savings Strategy Tool

Our tool can make your money work harder by matching your cash forecasts against our deposit products, helping you create a savings strategy bespoke to your needs. 

Get your savings strategysavings strategy tool

Our credentials

Find out more about the steps Bank of Scotland have been taking to support UK businesses.

Due to FSCS eligibility criteria not all business customers will be covered.