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Term Deposit Account

A guaranteed rate for your savings

Simply decide how long you’d like to save – from three months
up to five years. Then sit back and watch your money earn a
guaranteed rate.

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 5.22% Gross*/4.75% AER+ if held for the full 5 year term, minimum deposit £2,000
  • Range of savings terms – between 1 and 5 years - for 3 month and 6 month terms please call into your local Clydesdale Bank branch or call 0800 012 1111
  • Start from £2,000 – and save up to £5,000,000
  • Interest capitalised and paid annually, or on term maturity
  • Monthly or annual interest payment option also available – receive your interest monthly, paid directly to your Clydesdale Bank account

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.

*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.

The rate you’ll receive on your savings depends on the length of your Term Deposit. You can select a term between three months and five years. Provided you keep your savings intact for the full term you have chosen, your return is guaranteed. 
 

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

Term Gross* AER+ pa Net** pa Apply
3 months
1.00%
1.00%
0.80%
6 months
1.44%
1.45%
1.15%
12 Months
2.75%
2.20%
2 Years
3.56%
3.50%
2.85%
3 Years
4.16%
4.00%
3.33%
5 Years
5.22%
4.75%
4.18%

Interest capitalised annually and at maturity  


Term Gross*/AER+ pa Net** pa Apply
18 Months
3.00%
2.40%
 Restricted availability#

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Annually capitalised interest – the interest is added to your savings account every anniversary year.


Term Gross*/AER+ pa Net** pa Apply
2 Years
3.50%
2.80%
3 Years
4.00%
3.20%
5 Years
4.75%
3.80%


Monthly interest

You can also choose to have your interest paid monthly, directly into another Clydesdale
Bank account. This way, you can generate a regular income for up to five years.


Term Gross* AER+ pa Net** pa Apply
12 Months
2.72%
2.75%
2.18%
 In branch#
2 years
3.44%
3.50%
2.75%
 In branch#
3 years
3.93%
4.00%
3.14%
 In branch#
5 years
4.65%
4.75%
3.72%
 In branch#

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Annual interest

You can also choose to have your interest paid annually, directly into another Clydesdale Bank account.


Term Gross*/AER+ pa Net** pa Apply
2 Years
3.50%
2.80%
 In branch#
3 Years
4.00%
3.20%
 In branch#
5 Years
4.75%
3.80%
 In branch#

#Link will open in new window

Rates are correct at 3rd March 2010

Note: If your Term Deposit is a Qualifying Time Deposit (as defined) interest will be paid gross.

*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.

“Qualifying Time Deposit” means a Deposit of at least £50,000 or the equivalent in your chosen approved currency when the Deposit is made, which requires repayment at a specified time within 5 years of the Qualifying Time Deposit being made and which makes no provision for the right to repayment being transferred and prevents partial withdrawals from or additions to the Deposit within the Fixed Term

 

Apply online

Apply online

Use the online application process to complete and print an application form and fill it out. Send the completed form to:

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 10 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), or ask our savings team to call you to set up your Term Deposit.
Call me back

Apply at a branch

Find your nearest Clydesdale Bank branch (opens in a new window)

Summary Box

Key Product Information for our Savings Account

Account Name   3, 6, 12, 24, 36 & 60 month Term Deposits – Interest Capitalised at Maturity
Interest Rates (AERs)   Refer to our website,www.cbonline.co.uk or the notice displayed in Branch.
Tax Status   If your deposit is a Qualifying Time Deposit (as defined in the account Terms and Conditions) interest will be paid gross. On all other deposits interest will be paid net of basic rate tax unless you are entitled to register for gross interest and have completed the relevant documentation.
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

Summary Box

Key Product Information for our Savings Account

Account Name   24, 36 & 60 month Term Deposits – Interest Capitalised Annually
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

Summary Box

Key Product Information for our Savings Account

Account Name   12, 24, 36 & 60 month Term Deposits – Interest Repaid Monthly
Interest Rates (AERs)   Refer to our website,www.cbonline.co.uk or the notice displayed in Branch.
Tax Status   If your deposit is a Qualifying Time Deposit (as defined in the account Terms and Conditions) interest will be paid gross. On all other deposits interest will be paid net of basic rate tax unless you are entitled to register for gross interest and have completed the relevant documentation.
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

Summary Box

Key Product Information for our Savings Account

Account Name   24, 36 & 60 month Term Deposits – Interest Repaid Annually
Interest Rates (AERs)   Refer to our website,www.cbonline.co.uk or the notice displayed in Branch.
Tax Status   If your deposit is a Qualifying Time Deposit (as defined in the account Terms and Conditions) interest will be paid gross. On all other deposits interest will be paid net of basic rate tax unless you are entitled to register for gross interest and have completed the relevant documentation.
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)


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