Fixed Term Deposit

Lock away money from overnight to 3 years and get a fixed interest rate on your savings.

Ready to apply?

In order for us to point you in the right direction we need to ask you a few questions

We're sorry

We’ve taken the difficult decision to temporarily stop accepting new savings account applications to ensure colleagues can continue to provide vital support to existing customers at this unprecedented time.

This is undoubtedly going to cause a level of inconvenience, but please be reassured that we’ll reinstate the ability to accept new account applications at the earliest opportunity. Thank you for your understanding at this time.

Features and benefits

  • Choose a term that suits you - from overnight to 3 years
  • Start saving from £10,000
  • Get a fixed interest rate, paid at the end of the term
  • No withdrawals or additional funds allowed during the term

Eligibility

To apply for our savings products, you should:

  • Be a sole trader, or a partner or director of the business
  • Be over the age of 18
  • Require the account for business use

What you’ll need to open an account

To apply for our savings products, you'll need:

  • Your business contact details
  • To choose the savings account for your needs
  • The amount you want to deposit
  • To choose the term of the account
  • These interest rates apply to Sterling deposits only with a minimum balance of £10,000 and maximum balance of £5m.

    Interest rates stated below are available as at 07/05/2021 and expire on 24/06/2021 but may be subject to change. Should you need to discuss rates for alternative dates or terms, please call us on 0345 604 5539.

    For deposits over £5m or for more information about interest rates in other major currencies, please call us on 0345 604 5539.

    We are available 8am to 5pm Monday to Friday.

    Account

    Term Length

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    Account

    Fixed Term Deposit

    Term Length

    3 months

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.01% (fixed)

    Account

    Fixed Term Deposit

    Term Length

    6 months

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.02% (fixed)

    Account

    Fixed Term Deposit

    Term Length

    9 months

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.03% (fixed)

    Account

    Fixed Term Deposit

    Term Length

    12 months

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.05% (fixed)

    Account

    Term deposit with fixed maturity date

    Term Length

    Maturity date 15/11/2021

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.02% (fixed)

    Account

    Term deposit with fixed maturity date

    Term Length

    Maturity date 19/05/2022

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    0.05% (fixed)

    Account

    Fixed Term Deposit

    Term Length

    Bespoke – from overnight to 3 years

    Interest rate AERAERThe 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 will be able to compare more easily what return you can expect from your savings over time.. / GrossGrossGross 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.

    Call us on 0345 604 5539¹

    ¹We only offer standard terms online for Fixed Term Deposit products. If you would like to apply for bespoke term lengths or you need to select specific start and end dates for your deposit, please call us on 0345 604 5539. We are available 8am to 5pm Monday to Friday.

  • If you would like to deposit more than £5 million, please talk to one of our specialists.

    For clients with an annual business turnover of £0-3 million

    Fixed Term Deposit product information factsheet (PDF, 316KB)

    For clients with an annual business turnover of £3-25 million

    Fixed Term Deposit product information factsheet (PDF, 317KB)

    General terms and conditions

    Commercial Banking Markets General Terms of Business (PDF, 110KB)

    Commercial Banking Markets Deposit Terms and Conditions (PDF, 111KB)

    Make sure you understand the small print.

    Terms and conditions

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 strategy
FSCS protected

Financial Services Compensation Scheme

Eligible deposits with Bank of Scotland plc are protected up to a total of £85,000. Due to FSCS eligibility criteria not all business customers will be covered.

More about FSCS

Apply now

Log in to Business Internet Banking to apply for a Fixed Term Deposit.

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Talk to our specialists

Please call 0345 604 5539

We are available 8am to 5pm Monday to Friday, except on UK bank holidays.