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.
- You can't withdraw your money before the end of the term.
Eligibility
- You are aged 18 or over.
- 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.
- If you live in the EU, we are unable to offer you this account. 1 year term is not available for Irish residents.
Current fixed interest rates
|
Deposit term |
Tier |
Annual interest rate % (Gross/AER) - Sterling |
Minimum deposit |
Maximum deposit |
Access |
|---|---|---|---|---|---|
Deposit term1 year |
Tier£2,000+ |
Annual interest rate % (Gross/AER) - Sterling3.91 |
Minimum deposit£2,000 |
Maximum deposit£5 million
|
AccessAt the end of your deposit term |
Deposit term1 year |
Tier£50,000+ |
Annual interest rate % (Gross/AER) - Sterling3.96 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term1 year |
Tier£250,000+ |
Annual interest rate % (Gross/AER) - Sterling3.99 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term1 year |
Tier£500,000+ |
Annual interest rate % (Gross/AER) - Sterling4.05 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier£10,000+ |
Annual interest rate % (Gross/AER) - Sterling3.36 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier£50,000+ |
Annual interest rate % (Gross/AER) - Sterling3.41 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier£250,000+ |
Annual interest rate % (Gross/AER) - Sterling3.46 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier£500,000+ |
Annual interest rate % (Gross/AER) - Sterling3.52 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier£10,000+ |
Annual interest rate % (Gross/AER) - Sterling3.03 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier£50,000+ |
Annual interest rate % (Gross/AER) - Sterling3.08 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier£250,000+ |
Annual interest rate % (Gross/AER) - Sterling3.11 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier£500,000+ |
Annual interest rate % (Gross/AER) - Sterling3.14 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term1 month |
Tier£10,000+ |
Annual interest rate % (Gross/AER) - Sterling1.00 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term1 month |
Tier£100,000+ |
Annual interest rate % (Gross/AER) - Sterling1.25 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
Deposit term1 month |
Tier£500,000+ |
Annual interest rate % (Gross/AER) - Sterling1.65 |
Minimum deposit£2,000 |
Maximum deposit£5 million |
AccessAt the end of your deposit term |
|
Deposit term |
Tier |
Annual interest rate % (Gross/AER) - US Dollars |
Minimum deposit |
Maximum deposit |
Access |
|---|---|---|---|---|---|
Deposit term1 year |
Tier$10,000 |
Annual interest rate % (Gross/AER) - US Dollars4.40 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term1 year |
Tier$100,000 |
Annual interest rate % (Gross/AER) - US Dollars4.47 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term1 year |
Tier$500,000+ |
Annual interest rate % (Gross/AER) - US Dollars4.73 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier$10,000 |
Annual interest rate % (Gross/AER) - US Dollars4.20 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier$100,000 |
Annual interest rate % (Gross/AER) - US Dollars4.28 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term6 months |
Tier$500,000+ |
Annual interest rate % (Gross/AER) - US Dollars4.36 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier$10,000 |
Annual interest rate % (Gross/AER) - US Dollars3.84 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier$100,000 |
Annual interest rate % (Gross/AER) - US Dollars3.89 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term3 months |
Tier$500,000+ |
Annual interest rate % (Gross/AER) - US Dollars3.94 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term1 month |
Tier$10,000 |
Annual interest rate % (Gross/AER) - US Dollars0.75 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
Deposit term1 month |
Tier$100,000 |
Annual interest rate % (Gross/AER) - US Dollars0.75 |
Minimum deposit$2,000 |
Maximum depositUS $5 million |
AccessAt the end of your deposit term |
|
Deposit Term |
Tier |
Annual Interest % (Gross/AER) |
Minimum deposit |
Maximum deposit |
Access |
|---|---|---|---|---|---|
Deposit Term1 year |
Tier€10,000+ |
Annual Interest % (Gross/AER)Euro0.75 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term1 year |
Tier€100,000+ |
Annual Interest % (Gross/AER)Euro1.92 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term1 year |
Tier€250,000 |
Annual Interest % (Gross/AER)Euro1.97 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term1 year |
Tier€500,000+ |
Annual Interest % (Gross/AER)Euro1.99 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term6 months |
Tier€10,000+ |
Annual Interest % (Gross/AER)Euro0.45 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term6 months |
Tier€100,000+ |
Annual Interest % (Gross/AER)Euro1.67 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term6 months |
Tier€250,000+ |
Annual Interest % (Gross/AER)Euro1.82 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term6 months |
Tier€500,000+ |
Annual Interest % (Gross/AER)Euro1.85 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term3 months |
Tier€10,000+ |
Annual Interest % (Gross/AER)Euro0.20 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term3 months |
Tier€100,000+ |
Annual Interest % (Gross/AER)Euro0.30 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term3 months |
Tier€250,000+ |
Annual Interest % (Gross/AER)Euro1.62 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
Deposit Term |
Tier€500,000+ |
Annual Interest % (Gross/AER)Euro1.67 |
Minimum deposit€2,000 |
Maximum deposit€5 million |
AccessAt the end of your deposit term |
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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.
You can’t withdraw your money before the end of the fixed term. We will take your circumstances into account and may make an exception in a special case but there will be a charge and you may potentially lose some of your capital deposited.
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.
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There are no fees for opening and holding a Fixed Rate Term Deposit.
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General terms and conditions (PDF, 384 KB)
Account terms and conditions (PDF, 215 KB)
Frequently asked questions
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The minimum opening balance for the Fixed Term Deposit is £2,000, $2,000 or €2,000.
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The maximum balance you can deposit into an Island Fixed Term Deposit is £5,000,000, $5,000,000 or €5,000,000.
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We currently offer Fixed Term Deposits for 1 month to 1 Year in Sterling, US Dollar and Euro. Other terms and currencies may be available on request.
-
Fixed Term Deposits do not allow any withdrawals or closure during the term.
We will take your circumstances into account and may make an exception in a special case but there will be a charge and you may potentially lose some of your capital deposited.
-
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.
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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.
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If you need extra information please call 03457 449900. Lines are open 8am - 8pm, seven days a week.
Not all Telephone Banking services are available 24 hours a day, seven days a week.Please visit our contact us page for the latest opening hours.
To ensure security for our customers and staff and to help maintain service quality, some calls may be recorded and monitored. Calls cost may vary depending on your service provider.