Fixed Term Deposit
Lock away money for an agreed term of up to 2 years and get a fixed interest rate.
What is a Fixed Term Deposit Account?
With a Fixed Term Deposit Account, you choose a term up to 2 years and deposit an amount of £10,000 or more. You’ll receive the same rate of interest throughout. Once your account is open, you won’t be able to make any deposits or withdrawals until the term ends.
Benefits
Account name: Fixed Term Deposit
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.
Interest rates stated below are available as at 12/05/2023 and expire on 22/06/2023 but may be subject to change.
|
Account |
Term length |
Indicative interest rate |
Indicative interest rate AERThe 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. |
|---|---|---|---|
AccountFixed Term Deposit |
Term length3 months |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.1.60% |
Indicative interest rate AERThe 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.1.61% |
AccountFixed Term Deposit |
Term length6 months |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.3.10% |
Indicative interest rate AERThe 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.3.12% |
AccountFixed Term Deposit |
Term length9 months |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.3.15% |
Indicative interest rate AERThe 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.3.16% |
AccountFixed Term Deposit |
Term length12 months |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.3.20% |
Indicative interest rate AERThe 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.3.20% |
AccountTerm deposit with fixed maturity date |
Term lengthMaturity date 06/12/2023 |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.3.10% |
Indicative interest rate AERThe 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.3.12% |
AccountTerm deposit with fixed maturity date |
Term lengthMaturity date 29/05/2024 |
Indicative interest rateGross p.a.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. Whilst the Gross rate quoted is the annual rate of interest, please note that the duration of your deposit will affect the amount of interest that you are paid.3.20% |
Indicative interest rate AERThe 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.3.20% |
Interest is calculated by reference to the Interest Rate which is fixed for the term until the Maturity Date using the Day Basis.
Interest is paid at the end of the agreed term.
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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.
Initial Deposit
Term
Gross Rate p.a.
Final Balance
Initial Deposit
£10,000.00
Term
3 months
Gross Rate p.a.
1.60% (fixed)
Final Balance
£10,039.89
Initial Deposit
£10,000.00
Term
6 months
Gross Rate p.a.
3.10% (fixed)
Final Balance
£10,155.42
Initial Deposit
£10,000.00
Term
9 months
Gross Rate p.a.
3.15% (fixed)
Final Balance
£10,236.47
Initial Deposit
£10,000.00
Term
12 months
Gross Rate p.a.
3.20% (fixed)
Final Balance
£10,320.00
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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You can open your Fixed Term Deposit online or over the phone.
You can manage your Fixed Term Deposit online, over the phone or by email. -
No withdrawals are allowed.
On the Maturity Date, the Principal and any interest will be paid to your Nominated Account, unless otherwise agreed with you. -
No more funds can be added once your Fixed Term Deposit is agreed.
Commercial Banking Markets General Terms of Business (PDF, 127KB)
Commercial Banking Markets Deposit Terms and Conditions (PDF, 237KB)
(to be read in conjunction with Commercial Banking Markets General Terms of Business)Fixed Term Deposit product information factsheet (PDF, 148KB)
Protecting your deposits
The Financial Services Compensation Scheme (FSCS) will protect your deposits up to the value of £85,000, subject to eligibility criteria.
New to Lloyds Bank?
If you have a turnover greater than £3m, it’s easy to open a Fixed Term Deposit, even if you’re not a Lloyds Bank customer.
You can apply online or call us on 0345 600 6391.
Frequently asked questions
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If you’re an existing customer and want to speak to someone, call 0345 305 5555. We are available 8am to 5pm Monday to Friday.
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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 the maturity date.
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Maturity is when the term ends on your Fixed Term Deposit account. At maturity, we will pay your funds and any interest due into to your account, unless we are instructed otherwise. To give us a maturity instruction, go to Online for Business or call us on 0345 305 5555. We are available 8am to 5pm, Monday to Friday.
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You’ll be contacted before your account matures (the date your fixed term ends). At maturity, we will pay your funds and any interest due into to your nominated account, unless we are instructed otherwise. To give us a maturity instruction, go to your Online for Business or call us on 0345 305 5555. We are available 8am to 5pm, Monday to Friday.
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If your nominated account is with Lloyds Bank, you don’t need to do anything. We’ll debit your account to add funds to your Fixed Term Deposit account. If your nominated account isn’t with Lloyds Bank, you’ll need to send a CHAPS payment to Lloyds Bank. We’ll give you these details when your account is opened.
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The application form should take about 10 minutes to complete.
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Yes if you are an existing Lloyds Bank customer, with a turnover above £3m please call us on call us on 0345 600 6391. We are available 8am to 5pm Monday to Friday.
Other ways to save
Notice Account
Grow your savings with terms that suit your business needs. Give us 32 or 95 days’ notice to withdraw your money.
Instant Access Account
Open an account with as little as £1 and access your money at any time with no fixed term.
Important legal information
Calls may be monitored or recorded in case we need to check we have carried out your instructions correctly and to help improve our quality of service.
Lloyds Bank is a trading name of Lloyds Bank plc, Bank of Scotland plc, Lloyds Bank Corporate Markets plc and Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH.
Lloyds Bank plc. Registered Office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 2065. Bank of Scotland plc. Registered Office: The Mound, Edinburgh EH1 1YZ. Registered in Scotland no. SC327000. Lloyds Bank Corporate Markets plc. Registered office 25 Gresham Street, London EC2V 7HN. Registered in England and Wales no. 10399850. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278, 169628 and 763256 respectively.
Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is a wholly-owned subsidiary of Lloyds Bank Corporate Markets plc. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH has its registered office at Thurn-und-Taxis Platz 6, 60313 Frankfurt, Germany. The company is registered with the Amtsgericht Frankfurt am Main, HRB 111650. Lloyds Bank Corporate Markets Wertpapierhandelsbank GmbH is supervised by the Bundesanstalt für Finanzdienstleistungsaufsicht.
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.