Limited Edition Fixed Term Deposits

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

  • Choose from terms of 6 or 12 months or 2 years
  • Minimum deposit amount of £2,000, maximum £1,000,000
  • Interest is paid gross at the end of the term without the deduction of income tax
  • No additional lodgements permitted during the period
  • No early withdrawals can be made during the term
  • If, after the 14 day cooling off period, due to exceptional circumstances we allow you to withdraw part or all of the deposit before the end of the fixed term, you will have to pay a fee calculated at the time of withdrawal.  A minimum fee of £25 will apply; if the interest you’ve earned doesn’t cover this, you may get back less than you put in.

 

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Summary box

You can apply for the Limited Edition Fixed Term Deposit account online. Please read the summary box below before proceeding with your application:
 

Summary Box

Limited Edition Fixed Term Deposit

What is the Interest Rate?

3.71% Gross1/ 3.75% AER2fixed

4.20% Gross1/ AER2fixed

4.28% Gross1/ 4.20% AER2fixed

  • Interest rates are 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.

  • The rate quoted is indicative and may change upon rollover of your fixed term deposit. If this happens, we will provide you with a new summary box and provide you with 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 matures.

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

6 months term £2,037.10

12 months term £2,084.00

2 years term £2,171.20

These assumptions are based on a £2,000 deposit with no further deposits or withdrawals allowed. This projection is provided for illustrative purposes only and does not take into account a customer’s individual circumstances.

How do I open and manage my account?

Eligibility

  • Available for personal customers only.

  • 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 £1 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.

  • 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.

  • Further deposits cannot be made until maturity of your Fixed Term Deposit.

  • 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 money?

  • You can’t make withdrawals from your Fixed Term Deposit before it matures, 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.

  • Reinvestment 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 maturity, 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 reinvesting with us, 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.

The only way to service a Fixed Term Deposit is with a Bank of Ireland UK linked service account.

This account can be either a current account or a deposit account.

As part of this application we can open a Classic Saver account.

Details of the Classic Saver account can be seen in the Summary box and Terms and Conditions.

Using your data

We, Bank of Ireland (UK) plc (Bank of Ireland), take you privacy seriously and we want you to be clear about how we use your personal information. Please read our Privacy Notice which explains, for example:

  • The types of personal information we collect
  • How we use your personal information
  • Who we share your personal information with
  • Your personal information rights

As part of your application process, we use technology to scan and copy information from the documents you share. The information is used in your application.

Where we provide payment services, you agree that we may process your personal data to provide you with those payment services.

By tapping ‘Apply online’ you confirm that you understand that any personal information you share will be managed by us in line with our Privacy Notice.

 
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1 Gross rates are fixed. Interest is paid gross without the deduction of tax.
2 AER stands for Annual Equivalent Rate. It shows what the interest would be if interest was paid and added each year.