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Business Loyalty Account

Business Loyalty Account

Business Loyalty Fixed Deposit Account

Rates applicable from the 15th January 2020

Business Loyalty Fixed Deposit(GBP) Annual / Maturity AER
Balance £10,000 - £250,000
1 Year 1.40% 1.40%
2 Year 1.50% 1.50%
3 Year 1.50% 1.50%
4 Year 1.50% 1.50%
5 Year 1.50% 1.50%

Business Loyalty Fixed Deposit Terms and Conditions.

Business Loyalty Fixed Deposit
Account name Business Loyalty Fixed Deposit
Interest rates For current interest rates visit:
Tax status All the interest we pay you, on or after 6 April 2016 will be without any tax deducted i.e. paid at gross rate. If the total amount of interest you receive exceeds any Personal Savings Allowance to which you are entitled, it is your responsibility to ensure this tax is paid.
What would the estimated balance be on the date the fixed deposit matures based on a £10,000 deposit? On a deposit of £10,000, the estimated balance would be:
Term Initial Deposit Estimated Balance
1 Year £10,000 £10,175.00
2 Years £10,000 £10,404.00
3 Years £10,000 £10,612.08
4 Years £10,000 £10,824.32
5 Years £10,000 £11,176.78

This is based on:
  • Interest calculated and compounded annually.
  • £10,000 being deposited in the account at the time it is opened and no further deposits or withdrawals being made until the end of the term.
  • The amount of the deposit at the end of the term.
Conditions for bonus payable There is no bonus available on this account.
Withdrawal arrangements Withdrawals and closures are not permitted during the term of the Business deposit. Funds must remain in the account until maturity
Access In branch, post or online.

  1. Business Fixed Deposit is available only to SME and Large Business (a business that employs more than 10 persons or has a turnover or annual balance sheet that exceeds €2mn), which are incorporated in the European Economic Area (EEA).
  2. The minimum amount you may place in a Business+ Fixed Deposit is £10,000 or $50,000 or €50,000. The maximum amount that can be invested in this deposit is £10,000,000 and in equivalent currencies.
  3. All deposits must be in Sterling or US Dollar or EURO.
  4. The period of the deposit is between 1 year and 5 years
  5. Withdrawals and closures are not permitted during the term of the Business+ Fixed Deposit. Funds must remain in the account until maturity**.
  6. If you do not have a Business+ Savings Account with us, you will need to open one to avail the Business+ Fixed Deposit.
  7. New customers must send the amount of deposit by a CHAPS/Faster payment/Cheque from their business bank account held with another bank or financial institution. Customers who hold an account with us can send instructions to transfer funds from their account with us to their Business+ Fixed Deposit. The deposit will be paid back to the account of the company with the institution from where the funds were received.
  8. You cannot add additional amounts to your Business+ Fixed Deposit. However you can open more than one Business+ Fixed Deposit, subject to availability of the scheme.
  9. Interest can be paid out on Annual / Maturity basis. If you have chosen the Annual Interest option, the interest will be paid out to the business account, while in the Maturity Interest option the interest will be paid at the end of the term of the deposit.
  10. The rate of interest is fixed for the entire period of the deposit.
  11. This Deposit scheme is available for a limited period and may be withdrawn at any time at the discretion of the Bank.
  12. Please ask at branch for the application form and information regarding documents required for the account.
  13. Please click here for information on our General Terms and Conditions** of Service.
  14. In exceptional situations, an early withdrawal request may be considered in line with the bank’s internal policy. This policy is subject to change and the bank will confirm the current terms for early withdrawals at the time of your request. Early withdrawal requests are accepted at bank’s discretion and are subject to a penalty and may result in no interest being paid.

    In the event of death or bankruptcy, the capital value and accrued interest. Please refer to our General Terms and Conditions for more details.

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