Private Term Deposit Interest Rates
How it works
Interest repaid on maturity means that any interest you earn on your deposit, will not be applied until the deposit term ends. At this point, the interest you have earned will be added to your initial deposit amount and repaid to you. You will also have the option to reinvest your deposit, with or without the interest into another Private Term Deposit that we have available when your existing deposit matures.
Current offers
The table below provides details of the special terms and rates available today on our Private Term Deposits. These terms and rates are reviewed regularly and can be changed at any time. The term and rate you choose will only remain available to you as long as the completed Application Form and Cleared funds are available within 5 Business Days of the offer last being posted on the web page.
Term Deposit £10,000 - £5,000,000
| Term | Gross* % pa |
AER+ % pa | Net** % pa |
|---|---|---|---|
| 3 months |
1.15
|
1.15
|
0.92
|
| 6 months |
1.59
|
1.60
|
1.27
|
| 12 months |
3.40
|
3.40
|
2.72
|
Rates of interest are subject to change but are correct from 14th March 2012.
To deposit funds in one of these offers simple decide how much you wish to invest and choose the term that suits your needs, then click on Apply.See Frequently Asked Questions regarding Commencement and Maturity Dates and withdrawals.
Interest rates are fixed from the Commencement Date of the Deposit and are paid on maturity for Term Deposits that are 12 months or less.
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.
Definitions
*Gross Rate. Gross interest is interest payable without taking account of the deduction of income tax. For most customers tax will be deducted at the lower rate prevailing at the time of payment (presently 20%).
+AER: The Annual Equivalent Rate illustrates what the interest rate would be if interest was paid and compounded once each year.
**Net Rate: The Net rate is the Gross rate less tax at the lower rate of 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 the Inland Revenue.