Term Deposit Account

A guaranteed rate for your savings

Once your Term Deposit is opened simply sit back and watch your money earn a guaranteed rate.

At a glance

Interest rates

How to apply

Summary box

• Our Term Deposit account is ideal if you want to put away a lump sum – as long as you don’t want to make any withdrawals or additional deposits.

  Main features

  • Guaranteed interest rates – up to 1.60% Gross*/AER+ if held for the full 1 year term, minimum deposit £2,000
  • Start from £2,000 – and save up to £5,000,000
  • Interest capitalised at maturity 

  Withdrawals

  Withdrawals or early closure of the Term Deposit are not permitted under any circumstances during the Fixed Term except in the event of the death of the Account Holder (or one of them if joint account). See Terms and Conditions (PDF, opens in new window) of the account for further information.

  Apply online

  *Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (currently 20%).

  +AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

• Provided you keep your savings intact for the full term, your return is guaranteed.

  For new Term Deposits - The rate in force on the day your Term Deposit is opened will be the rate applied to your new account for the fixed term.

  For existing Term Deposits that are due to mature - The rate in force on the day your Term Deposit is reinvested will be the rate applied to your account for the fixed term. For more information on your options please refer to the letter sent out 35 days prior to your maturity date.

  Interest capitalised and paid at maturity – interest will be credited to the account on the maturity date.
   

  Term	Gross*	AER+ pa	Net** pa	Apply
  12 Months	1.60%		1.28%	Apply

  Terms and rates offered for Term Deposits are constantly reviewed. As a result the length of the terms offered may vary on occasion from 3 months to 36 months.

  Rates are correct at 29th April 2013

   

  *Gross Rate interest is the interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the basic rate prevailing at the time of payment (currently 20%).

  +AER. Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.

  ** Net Rate. Net Rate is the Gross Rate less income tax at the lower rate (currently 20%). Tax at this rate will be deducted from accounts subject to tax at the time interest is paid. Non-taxpayers may register for payment of interest gross. Tax paid may be reclaimed, where appropriate, from H M Revenue and Customs. Higher rate taxpayers may be liable to additional taxation according to their individual circumstances.

• How to apply

  Apply online

  Use the online application process to complete and print an application form and fill it out. Send the completed form to:
  
  Freepost RRBU-ZLRL-ATCB
  Clydesdale Bank PLC
  Term Deposit Administration
  Timor House, Mariner Court
  CLYDEBANK G81 2NR

  Along with your application, you should send a cheque for the amount of your deposit. Make the cheque payable to the person named on the application form. For joint applications, you can send a separate cheque for each applicant if you wish.

  When we receive your signed application, we will process it as quickly as possible.

  • After your cheque has cleared, we will open your account
  • Within 14 working days we will send you a certificate and covering letter confirming your new term deposit details

  Apply by phone

  Call 0800 012 1111 (Mon to Fri 8am to 8pm, Sat 9am to 5pm)

  Apply at a branch

  Find your nearest Clydesdale Bank branch

• Summary Box
  Key Product Information for our Savings Account

  Account Name	12 month Term Deposit – Interest Capitalised at Maturity
  Interest Rates (AERs)	Refer to our website,www.cbonline.co.uk or the notice displayed in Branch.
  Tax Status	Interest will be paid net of basic rate tax unless you have registered for payment of gross interest as a non taxpayer, or are resident abroad and have signed a non-resident’s declaration.
  Conditions for bonus payment	N/A
  Withdrawal arrangements	Withdrawals or early closure of the Term Deposit are not permitted under any circumstances during the Fixed Term except in the event of the death of the Account Holder (or one of them if joint account). See Terms and Conditions of the account for further information.
  Access	Branch/Post/Internet/Telephone

  
  

  Terms and conditions
  
  Terms and Conditions (PDF, opens in a new window)
  Download Adobe Reader (opens in a new window)