Apply for a Fixed Term Deposit Account

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.

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

1.41%

Gross p.a.2

1.40%

Term length

3 months

AER1

2.25%

Gross p.a.2

2.24%

Term length

6 months

AER1

2.25%

Gross p.a.2

2.24%

Term length

9 months

AER1

2.24%

Gross p.a.2

2.24%

Term length

12 months

AER1

2.25%

Gross p.a.2

2.24%

Term length

Fixed until 11/03/2026

AER1

2.24%

Gross p.a.2

2.24%

Term length

Fixed until 28/10/2026

Interest rates stated above are available as at 08/08/2025 and expire on 18/09/2025 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 2.50% interest rate would be calculated as follows: 2.50% 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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Find out how you can manage your savings account online. View account details, make a change, see your recent activity and get statements.

View account management

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