Money Desk Deposit - Savings | Ulster Bank

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Money Desk Deposit

Receive a fixed rate linked to the money markets

What is a Money Desk Deposit?

A Money Desk Deposit is linked to the money markets. Your funds are placed on deposit for a fixed term at a fixed rate. 

 

Peace of mind
We will quote you the interest rate before you invest. The rate will be fixed throughout the term so won't go up or down

Freedom to invest
Save as much as you like – there is no limit on how much you can have in a Money Desk  For terms of less than 6 months the minimum balance is £10,000. For terms of 6 months or more the minimum balance is £2,500

Flexible terms
You can place your funds in a Money Desk account from as little as one week up to one year

The need to knows

  • Anyone over 18 and resident in the UK can open a Money Desk Deposit
  • Accounts can be opened at any Ulster Bank branch
  • Gross interest is calculated on a 365 day basis
  • Interest is paid at the end of the term
  • No lodgements or withdrawals throughout the term
  • A range of terms are available from 1 week to 1 year
  • For terms of less than 6 months the minimum balance is £10,000. For terms of 6 months or more the minimum balance is £2,500 
  • You will need to open an instant access account (i.e. an account that does not require notice of withdrawal) with us in the same name as the Money Desk Deposit, if you do not hold one already. The instant access account will be used for the processing of funds placed on and maturing from your Money Desk Deposit, together with interest due to you
  • At maturity your funds plus any interest earned will be reinvested for the same term at the rate applicable at that time
  • Early closure may only be possible in exceptional circumstances and will incur an Early Closure Charge. Details of this change can be found in the undernoted Information Sheet
  • Money Desk Deposit Information Sheet
  • Terms and conditions
Add your signposting title here… Common questions

Your eligible deposits with Ulster Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

Please click here (84 KB PDF) for further information or visit www.fscs.org.uk.

Please read before you apply

Please save / and or print a copy of the documents below

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