Fixed Term Deposit - Savings | Ulster Bank

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Fixed Term Deposit

Deposit a lump sum for a fixed term

What is a Fixed Term Deposit account?

With a Fixed Term account, your funds are held on deposit for 12 months at which point they are transferred along with any interest earned to your Ulster Bank instant access account. It is different to some other savings accounts as you are unable to lodge additional funds or make a withdrawal throughout the term.



Receive a fixed rate of interest over a fixed period of time with a guaranteed rate. This means you will know in advance how much interest your deposit will earn

Instant access to funds at maturity

At maturity we will return your funds plus interest earned to your instant access account, unless alternative instructions are received

The need to knows

  • Available to both new and existing customers 
  • You need to be aged 18 or over and resident in the United Kingdom
  • Minimum balance is £10,000 maximum is £500,000
  • No lodgements or withdrawals throughout the term
  • Applications can be made over the phone or in the branch Telephone applications are available to Anytime Banking customers applying for a sole account
  • 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 Fixed Term 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 Fixed Term Deposit, together with interest due to you
  • 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.
  • Fixed Term Deposit Information Sheet & Terms and Conditions
 Term AER /Gross p.a ( Fixed )
12 months 0.50%
  • Interest is calculated daily and paid at the end of the term
  • Gross Rate. This means the interest rate you are paid without the deduction of income tax.
  • AER - Annual Equivalent Rate illustrates what the rate would be if paid and compounded each year





Add your signposting title here… Common Questions

Financial Services Compensation Scheme

Your eligible deposits with Ulster Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. 


Find out more  about the scheme and how it protects your money.

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