Apply for a Fixed Term Deposit Account

Fixed Term Deposit Account

Lock away your money for up to two years and you’ll get a fixed interest rate for the whole time.


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Check if your business can apply

What is a Fixed Term Deposit Account?

This business savings account could be ideal if you're looking for a fixed interest rate that won't change. You'll need to pay in £10,000 or more and choose a time period that suits you. Throughout your chosen period, you won't be able to make any deposits or withdrawals.

Fixed interest rate

With a fixed rate, you'll know exactly how much interest you'll earn.

Easy to manage

You can view and manage your fixed term account online.

A term to suit you

Choose how long to put your money away for. Long-term or short-term, whatever suits your business needs.

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Can my business apply?

To apply for our Fixed Term Deposit Account, you should:

  • use it for your business
  • be a sole trader, partner or director
  • be age 18 or over.

How do I apply for a Fixed Term Deposit Account?

It only takes a few minutes to apply:

  1. Log in to Online for Business or our Business Banking Mobile app.
  2. Pick ‘Apply for a Fixed Term Deposit’.
  3. Complete the application. All you need to know is the amount. you want to save and your email address.

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 16/07/2026

AER1

2.04%

Gross p.a.2

2.04%

Term length

Fixed until 17/03/2027

Interest rates stated above are available as at 19/12/2025 and expire on 05/02/2026 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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Supporting UK businesses

We’re here to help Britain thrive. See how we’re supporting UK businesses in our latest credentials report.

 

Read our credentials report (PDF, 398KB)

Frequently asked questions

  • With a Fixed Term Deposit Account, you won’t be able to make any deposits or withdrawals throughout your chosen period – so if you think you’ll need access to money quickly, this might not be the best option for you. Instead, you might want to consider an Instant Access Account or Notice Account, which offers more flexibility but may come with lower interest rates.

    One of the key benefits of a Fixed Term Deposit Account is guaranteed interest rates for the duration of a given term. You’ll know exactly how much interest you’ll earn, and the rate won’t drop even if the Bank of England base rate changes. This level of certainty can be particularly useful in volatile markets, or when budgeting for future cash flows.

    Other benefits include an easy-to-manage account which you can view and manage online, as well as online maturity instructions, and the option to choose a term that suits your business needs.

  • If you’re an existing customer and have questions about fixed term deposit accounts, call 0345 305 5555. We’re available 8am to 5pm, Monday to Friday, excluding Bank Holidays.

  • You can’t withdraw funds from a Fixed Term Deposit Account until it reaches maturity – this means the date the term ends. The account must stay open until its maturity date.

  • You’ll need to add money to set up a Fixed Term Deposit Account.

    If your linked account is with Lloyds, all you need to do is have the funds ready in your Business Account. We’ll debit your account to add this money to your Fixed Term Deposit Account.

    If your linked account isn’t with us, you’ll need to send a CHAPS payment to Lloyds. As this can’t be done online, we’ll explain how to send this payment when your business savings account is opened.

    Just so you know, you can’t continue adding money into this account after you’ve set it up.

  • It’s quick and simple to apply for a Fixed Term Deposit Account. If you’re an existing customer, all you need to know is the amount you want to save and your email address.

    You can apply using the business banking app or Online for Business.

  • When you apply online, you can choose between a range of term lengths to suit your business. Your account will start as soon as your application has been processed, and the term length you choose will decide the end date.

    If you have a turnover above £3 million and you’re looking for more specific options, please call us on 0345 600 6391. We’re available 8am to 5pm, Monday to Friday, excluding Bank Holidays.

  • Maturity is when the term ends on your Fixed Term Deposit Account. At maturity, you’ll have the option to reinvest the money or have your funds (and any remaining interest) paid into your linked account.

    You can give us your maturity instruction using the business banking app, Online for Business or by calling us on 0345 305 5555. We’re available 8am to 5pm, Monday to Friday, excluding Bank Holidays.

  • We’ll contact you by email or letter before your account matures (the date your fixed term ends) to explain your options. When your account matures, you can choose to reinvest the money or have your funds (and any remaining interest) paid into your linked account.