Fixed Term Deposit Account
Lock away money for a term that suits you and get a fixed interest rate on your savings.
Summary box
Account name: Fixed Term Deposit Account
What is the interest rate?
A fixed rate of interest will apply to your account. The table below shows the Interest Rates currently available on some of our standard Fixed Term Deposits.
|
AER1 |
Gross p.a.2 |
Term length |
|---|---|---|
|
AER1 1.31% |
Gross p.a.2 1.30% |
Term length 3 months |
|
AER1 2.05% |
Gross p.a.2 2.04% |
Term length 6 months |
|
AER1 2.05% |
Gross p.a.2 2.04% |
Term length 9 months |
|
AER1 2.04% |
Gross p.a.2 2.04% |
Term length 12 months |
|
AER1 2.05% |
Gross p.a.2 2.04% |
Term length Fixed until 26/08/2026 |
|
AER1 2.04% |
Gross p.a.2 2.04% |
Term length Fixed until 28/04/2027 |
Interest rates stated above are available as at 06/02/2026 and expire on 19/03/2026 but may be subject to change. Once you open your deposit account, the interest rate is fixed, so will stay the same throughout your chosen term.
Interest is calculated as follows: Interest rate multiplied by the number of days of the fixed term divided by 365 days then multiplied by the initial deposit amount. For example, a £10,000 deposit for 3 months at a 1.30% interest rate would be calculated as follows: 1.30% x (91/365) x £10,000.
Interest is paid at the end of the agreed term.
1AER – The AER stands for Annual Equivalent Rate and is the notional rate, which illustrates the gross rate as if paid and compounded on an annual basis. As every advert for a savings product will contain an AER, you’ll be able to compare more easily what return you can expect from your savings over time.
2Gross Rate – Gross rate means that no tax will be automatically deducted from interest on your behalf. You are responsible for paying any tax due to HM Revenue and Customs.
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No. The Interest Rate is fixed.
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An illustration of an estimated future balance based on a range of terms is shown below.
Future balance for Fixed Term Deposit Account Initial Deposit
Term
Gross Rate p.a.
Final Balance
Initial Deposit
£10,000.00
Term
3 months
Gross Rate p.a.
1.30% (fixed)
Final Balance
£10,032.41
Initial Deposit
£10,000.00
Term
6 months
Gross Rate p.a.
2.04% (fixed)
Final Balance
£10,102.28
Initial Deposit
£10,000.00
Term
9 months
Gross Rate p.a.
2.04% (fixed)
Final Balance
£10,153.14
Initial Deposit
£10,000.00
Term
12 months
Gross Rate p.a.
2.04% (fixed)
Final Balance
£10,204.00
We worked this out by assuming that:
- You make your first deposit payment on the day the FTD is opened.
- Interest is paid on the Maturity Date.
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To apply for a Fixed Term Deposit, you should:
- Need the account for business purposes
- Be a sole trader, partner or director
- Be age 18 or over
- Be based and operating in the UK (excluding Channel Islands and Isle of Man)
You can open your Fixed Term Deposit Account online or over the phone.
When you open your account, you'll need to:
- deposit £10,000 or more up to a maximum of £5,000,000.
- choose a term length.
You can manage your Fixed Term Deposit online or over the phone.
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No, withdrawals are not allowed. The money must stay in the account for the agreed amount of time.
Once the agreed term has finished, the money and any interest will be paid to your Nominated Account. Alternatively, you can choose to lock your money into a new Fixed Term Deposit Account.
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No more funds can be added once your Fixed Term Deposit is agreed.
Product Terms for Deposit Accounts (PDF, 374 KB)
Fixed Term Deposit product information factsheet (PDF, 160 KB)
Financial Services Compensation Scheme
Eligible deposits with Bank of Scotland plc are protected up to a total of £120,000. Due to FSCS eligibility criteria not all business customers will be covered.
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