Limited Edition Fixed Term Deposits

Lock away your savings with the comfort of knowing how much you’ll earn.

Why Choose Limited Edition Fixed Term Deposits?

Save for 6 months, 12 months or 2 years

Deposit a single payment between £2000 and £5 million

Fix your interest rate

Know how much you’ll earn

Apply Online. Manage account in branch, by post or phone

No withdrawals

Is Limited Edition Fixed Term Deposit right for me?

This product is right for you if:

  • You want a fixed interest rate.
  • You are happy to put money aside for a fixed period of time as you can’t make withdrawals.
  • Have a minimum of £2,000 to save.
  • You live in the UK.

This product may not be right for you if:

  • You want to manage your account online.
  • You need access to your money.
  • You want to add to your savings on a regular basis.
  • You don’t live in the UK.

Summary Box

Product Name: Limited Edition Fixed Term Deposits






What is the interest rate?

6 months12 months2 years
Interest rate

information
Gross Interest Rates means we will not automatically deduct tax from the interest we pay on money in your account. It’s your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC). AER stands for Annual Equivalent Rate. It shows what the interest rate would be if interest were paid and added to your account each year.
3.37% Gross / 3.40% AER fixed3.90% Gross / 3.90% AER fixed3.76% Gross / 3.70% AER fixed

Interest is calculated daily.

The interest rate is fixed for the duration of the fixed term deposit and paid in one sum at the end of the term.

If you decide to deposit your money with us again once the term ends this rate may change. If this happens, we will give you a new summary box and an extra 7 days to decide if the rate is right for you.

Can Bank of Ireland UK change the interest rate?

Bank of Ireland UK cannot change the rate during the term. The interest rate is fixed at the start of the term until your Fixed Term Deposit term ends.

What would the estimated balance be based on a £2,000 deposit?

6 months12 months2 years
Estimated Balance£2,033.70£2,078.00£2,150.40

These examples are based on a £2,000 deposit with no more deposits or withdrawals made. This is an example only and does not reflect a customer’s individual circumstances.

How do I open and manage my account?

Eligibility

  • Available for personal customers only, who are resident in the UK.
  • All customers under 16 must have an adult representative appointed on the account to open and manage it. The representative must hold parental responsibility for the child.
  • Minimum balance to open a Limited Edition Fixed Term Deposit is £2,000.
  • There is a maximum investment of £5 million.

Managing your account

  • You can apply for a Fixed Term Deposit online.
  • You can manage your account in branch, by post or phone.
  • Deposits must be made in your name via a Bank of Ireland UK Linked Service Account. A Linked Service Account is a personal BOI UK current or savings account that we will link to the Limited Edition Fixed Term Deposit account. It must be used to pay in to and return funds from the Limited Edition Fixed Term Deposit account.
  • On the day your Limited Edition Fixed Term Deposit account is opened, we will arrange for the transfer of the deposit from your Linked Service Account. There is no charge for this service.
  • You cannot add more money throughout your fixed term.
  • Should you wish to make additional deposits you can open a new Fixed Term Deposit Account.

You will not be able to switch to another product until the end of the fixed term. If you wish to switch into this account, please enquire in a Bank of Ireland UK branch.

Can I withdraw my money?

  • You can’t make withdrawals from your Fixed Term Deposit before it ends, so you need to be sure you won’t need access to your money during the fixed term.
  • We may allow you to close your account during the fixed term, at our discretion, in exceptional circumstances. All closure requests must be sent in writing to us and include an explanation of the exceptional circumstance surrounding your request. We may ask for evidence and/or further information to be provided. Early closure is usually subject to a breakage charge meaning you could get back less than you originally invested.
  • If, due to exceptional circumstance, we permit you to withdraw part or all of the deposit after the 14 day cooling-off period and before the end of the fixed term, a fee which reflects the bank’s costs will be payable. This is known as the Breakage Charge and further details can be found in the Terms and Conditions for this product. Before making a withdrawal you are advised to ask for details of the Breakage Charge which applies.
  • If a withdrawal results in the balance of the Limited Edition Fixed Term deposit being reduced to below £2,000 the entire balance plus any accrued interest will be transferred to your Linked Service Account and will thereafter receive interest at the prevailing rate for the Linked Service Account. A Breakage Charge will apply to the entire balance.

When your Fixed Term Deposit matures your options are as follows:

  • Return of funds.
  • Move your money to another product.
  • If selected at the start of the term, an automatic rollover of funds into a new Fixed Term Deposit for the same length of term at the prevailing interest rate.
  • If your account is set to rollover, unless you tell us otherwise by 11:00 am on the date of your term ends, your account will automatically rollover into a new Fixed Term Deposit for the same length of term at the prevailing interest rate in accordance with the terms and conditions of the account.
  • If you change your mind about depositing your money with us again, let us know in writing and we’ll cancel your Fixed Term Deposit. If you do want to cancel, there will be no charge provided you tell us within 14 days of your Fixed Term Deposit being opened.
  • Please note the cancellation period of 14 days will be extended to 21 days, if there has been a change to the rate since you received your maturity notification.

Additional Information

Interest is paid without tax deducted. You can cancel the account within 14 days of opening and your money will be returned in full with interest.

This Summary Box does not include our Terms and Conditions for this product. Please make sure to read the Limited Edition Fixed Term Deposit Factsheet, which contains specific Terms and Conditions and the Summary Box, and the Important documents for this product below before applying for this product.

How To Apply

It’s as easy as 1, 2, 3

Step 1

By applying you confirm that you have read and understood all sections of the summary box, the Limited Edition Fixed Term Deposit Factsheet and the other important documents for this product.

You will need between 5 and 20 minutes to complete the application form.

Apply Online

Step 2

Give us some information about you and your finances.

Step 3

We make a decision

  • We can usually open your account within 1-2 days
  • If we cannot open an account for you, we will tell you why
  • You will need to fund your account within 30 days

All done!

Now you can manage your savings

Important Documents


Savings Account Terms & Conditions


Guide to Personal Banking


Schedule of Service Charges for Personal Customers


Interest rates no longer available to new customers


Deposit Information Sheet


Sound financial thinking for personal customers

FSCS Protected

FSCS Protection

Your eligible deposits with Bank of Ireland (UK) plc are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit is applied to the total of any deposits you have with the following: Bank of Ireland UK and Post Office. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please click here for further information or visit www.fscs.org.uk

FAQs

I’ve changed my mind about opening a Limited Edition Fixed Term Deposit. Can I cancel?

You can cancel your Limited Edition Fixed Term Deposit within 14 days of opening it. If you want to cancel your deposit after this time then you must tell us why and we will decide. You must send your request in writing to us and explain the situation. We may ask for evidence, and you will usually have to pay a breakage charge. There is a chance that you could get back less than you invested.

Can I withdraw and transfer money once the account is open?

You cannot withdraw or transfer money from your Limited Edition Fixed Term Deposit once it is open. Make sure you do not need the money during this time. If you want to pay in more money, you can open a new account.

How is interest paid?

The interest rate is fixed and will not change for the entire time the deposit is active. It is paid all in one go at the end of the Fixed Term, on the Maturity Date. If you have not given us any instructions, we will deposit your money again into the same type of account for the same period of time.

How much can I save?

The minimum amount you can deposit is £2000 and the maximum amount is £5 million.

How can I access my savings?

You will not be able to access your savings while the account is active, unless you change your mind and cancel in the first 14 days or request to have your account closed due to an exceptional circumstance. You will be able to access your funds once they have matured.

Can I open an account for a child?

Yes. All customers under 16 must have an adult representative appointed on the account to open and manage it. The representative must hold parental responsibility for the child.

How can I get in touch?

You can visit a local branch, click here to find your closest.
Or you can call us on 03456 006 552