Fixed Term Deposit Account

Deposit your money for a fixed term and you’ll get a fixed rate of return.

Features and benefits

  • Available in Sterling , US Dollar and Euro.
  • Minimum deposit £2,000, $2,000 or €2,000.
  • Maximum deposit £5 million, $5 million or €5 million.
  • Interest is paid on maturity for terms up to one year.
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Eligibility

  • You must be a personal customer aged 18 years and over. You must be ordinarily resident in the Channel Islands or Isle of Man.
  • You can deposit a minimum of £2,000, $2,000 or €2,000 in the account.
  • Depending on legislation and regulations of the country you live in, we may not be able to offer you this account.

Current fixed interest rates

Select currency:

Deposit term

Tier

Annual interest rate %  (Gross/AER) - Sterling

Minimum deposit

Maximum deposit

Access

Deposit term

2 year

Tier

£2,000+

Annual interest rate %  (Gross/AER) - Sterling

3.00

Minimum deposit

£2,000

Maximum deposit

£5,000,000

Access

At the end of your deposit term

Deposit term

2 year

Tier

£50,000+

Annual interest rate %  (Gross/AER) - Sterling

3.95

Minimum deposit

£2,000

Maximum deposit

£5,000,000

Access

At the end of your deposit term

Deposit term

1 year

Tier

£2,000+

Annual interest rate %  (Gross/AER) - Sterling

4.00

Minimum deposit

£2,000

Maximum deposit

£5 million

 

Access

At the end of your deposit term

Deposit term

1 year

Tier

£50,000 +

Annual interest rate %  (Gross/AER) - Sterling

4.80

Minimum deposit

£2,000

Maximum deposit

£5 million

Access

At the end of your deposit

Deposit term

6 months

Tier

£2,000+

Annual interest rate %  (Gross/AER) - Sterling

2.00

Minimum deposit

£2,000

Maximum deposit

£5 million

Access

At the end of your deposit term

Deposit term

6 months

Tier

£50,000+

Annual interest rate %  (Gross/AER) - Sterling

4.80

Minimum deposit

£2,000

Maximum deposit

£5 million

Access

At the end of your deposit term

Deposit term

Tier

Annual interest rate %  (Gross/AER) - US Dollars

Minimum deposit

Maximum deposit

Access

Deposit term

2 year

Tier

$2,000+

Annual interest rate %  (Gross/AER) - US Dollars

3.00

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit term

2 year

Tier

$50,000+

Annual interest rate %  (Gross/AER) - US Dollars

3.95

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit term

1 year

Tier

$2,000+

Annual interest rate %  (Gross/AER) - US Dollars

3.60

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit term

1 year

Tier

$50,000+

Annual interest rate %  (Gross/AER) - US Dollars

4.95

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit term

6 months

Tier

$2,000+

Annual interest rate %  (Gross/AER) - US Dollars

2.65

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit term

6 months

Tier

$50,000+

Annual interest rate %  (Gross/AER) - US Dollars

4.50

Minimum deposit

$2,000

Maximum deposit

US $5 million

Access

At the end of your deposit term

Deposit Term

Tier

Annual Interest % (Gross/AER)
Euros

Minimum deposit

Maximum deposit

Access

Deposit Term

2 year

Tier

€2,000+

Annual Interest % (Gross/AER)Euros

2.00

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

Deposit Term

2 year

Tier

€50,000+

Annual Interest % (Gross/AER)Euros

2.50

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

Deposit Term

1 year

Tier

€2,000+

Annual Interest % (Gross/AER)Euros

0.90

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

Deposit Term

1 year

Tier

€50,000+

Annual Interest % (Gross/AER)Euros

2.50

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

Deposit Term

6 months

Tier

€2,000+

Annual Interest % (Gross/AER)Euros

0.60

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

Deposit Term

6 months

Tier

€50,000+

Annual Interest % (Gross/AER)Euros

2.00

Minimum deposit

€2,000

Maximum deposit

€5 million

Access

At the end of your deposit term

  • We will open a fee-free servicing account (Money Market Call Account) to allow you to make your initial deposit and withdraw your money at the end of the term.

    The interest rates advertised here are not fixed until receipt of your deposit and any supporting documentation required to open your Fixed Term Deposit.

    No additional deposits are allowed.

    At the end of the term, we will:

    • for accounts where the term is less than 12 months, reinvest the entire balance of the account in a new Fixed Term Deposit account with a term that is the same and at the rate of interest that applies on the date of reinvestment. 
    • for accounts where the term is 12 months or more, pay the entire balance of the account to the servicing account.

    It is your responsibility to contact us to give us your maturity instructions before the end of the Term. However, for terms of one year or more, at least 60 days before the end of the Term, we will write to you asking for instructions about what you would like us to do with your balance. When we write we may also send you information about other accounts we think may be appropriate, for example, if we are offering similar accounts at the time that you may want to transfer the balance to

    *GROSS Rate – The contractual rate of interest payable before deduction of income tax at the rate specified by law.

    **AER Rate – AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

  • There are no fees for opening and holding a Fixed Rate Term Deposit. There may be fees for early closures and these are detailed within your terms and conditions.

Frequently asked questions

  • The minimum opening balance for the Fixed Term Deposit is £2,000,  $2,000 or €2,000.

  • The maximum balance you can deposit into an Island Fixed Term Deposit is £5,000,000, $5,000,000 or €5,000,000.

  • We currently offer Fixed term Deposits for 6 months to 2 years in Sterling, US Dollar and Euro. Other terms and currencies may be available on request.

  • You can’t make withdrawals from this account, but you can close the account early by contacting us. Bear in mind that if you close the account early, for the 6 month term account you will be charged the equivalent of 60 days’ gross interest. For the one year term account you’ll be charged the equivalent of 90 days’ gross interest. For the two year term account you’ll be charged the equivalent of 180 days’ gross interest. This means you may get back less than you put in. We will take your circumstances into account and may make an exception in a special case.

    At the end of the term we will contact you to explain your options and next steps.

  • Yes, the interest rate is fixed for the whole term of your Fixed Term Deposit. Any subsequent changes in interest rates will only affect new Fixed Term Deposits.

  • We will open a Call account for each currency you hold a Fixed Term Deposit in, but you don’t need to maintain the usual minimum deposit in this account. It just allows you to deposit money into your Fixed Term Deposit and withdraw it at maturity.

    We will provide you with a sort code and account number (IBAN and BIC for transfers outside the UK) to enable you to deposit your money.

    No additional deposits are allowed after the initial capital is deposited.

  • If you need extra information, please call 03457 449900. Our automated services are available 24/7.  If you need to speak to an adviser not all Telephone Banking services are available 24 hours a days, seven days a week.

    Contact us for contact numbers and opening times which may vary depending on the service that you require.

    To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Call costs may vary depending on your service provider.

How to apply

Use our contact form or call us to make an appointment.

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