Limited Offers

Fixed Term Deposit Accounts

The Fixed Term Deposit Accounts offer an attractive rate of interest, with the rate fixed for the period of the term, regardless of money market fluctuations.

 

Download a fixed term deposit account brochure for these great offers or to sign up today, phone us on 0845 600 5204 or call into one of our branches.

 

These accounts are open to personal and corporate depositors with £25,000 or more.  A maximum deposit of £3,000,000 can be made to any one account. 

 

Competitive Rates

	AER*	Gross Rate PA**
2 month term	1.20%	1.20%
4 month term	1.60%	1.60%
5 month term	2.00%	2.00%
7 month term	2.30%	2.30%
11 month term	2.80%	2.80%

 

How is my interest taxed?

Subject to certain exceptions, interest will be paid net after deduction of tax at the basic rate under current legislation. If you are a higher rate taxpayer, you may have additional tax to pay. Interest will be paid without the deduction of tax to UK residents who are non-taxpayers and who provide a valid Form R85. Interest will be paid without the deduction of tax to individuals who maintain a balance of at least £50,000 and who are not ordinarily resident in the UK and who have provided us with a completed non-resident declaration (Form R105). For deposits of £50,000 or more for a fixed term that does not exceed five years and where there are no mid-term transactions, interest will be paid without deduction of tax. However, this interest will form part of your total income for income tax purposes.

Interest will be paid without the deduction of tax on accounts held by companies, certain trusts, charities, pension funds, clubs, societies and associations, provided you have furnished us with the appropriate documentation.

Any reference to tax is based on our understanding of current legislation and HM Revenue & Customs practice. The law relating to taxation is always liable to change in the future. You should speak to your tax adviser if you are unsure of the tax implications. Also refer to the 'Important information' section.

 

Can I make additional lodgements?

No additional lodgements are permitted during the fixed term.

 

Can I make withdrawals?

No withdrawals are permitted until the maturity date.

 

What happens on the maturity date?

Your capital and interest will be paid into a nominated account, such as another savings or current account.

Or

Your capital and interest will be placed into a Demand Deposit Account if no nominated account is available.

The funds can only be transferred to a nominated account such as a Demand Deposit Account in the name of the account holders. They cannot be transferred to a third party.

 

Will I receive a statement of my account?

A statement for your limited offer Fixed Term Deposit Account setting out details of all transactions will be sent to you on opening the account, on closure and on your request.

 

Can I receive a monthly income?

A monthly income is not available.

 

How can I open a limited offer Fixed Term Deposit Account?

Talk to staff at any Allied Irish Bank (GB) branch. Non-account holders, on provision of suitable identification, are welcome to apply.

 

Important information about compensation arrangements

AIB Group (UK) p.l.c. (trading as First Trust Bank in Northern Ireland and Allied Irish Bank (GB) in Great Britain) is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors (including most individuals and small businesses) are covered by the scheme.

In respect of deposits, an eligible depositor is entitled to claim up to £50,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £50,000 each (making a total of £100,000). The £50,000 limit relates to the combined amount in all the eligible depositors' accounts with the bank, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website through our External Links section or call (020) 7892 7300 or 0800 678 1100.

 

Rates

* AER stands for Annual Equivalent Rate and illustrates what the interest would be if it was paid and compounded once each year.

** Gross stands for contractual rate of interest payable before the deduction of income tax at the rate specified by law.

The interest rate is fixed for the term of the deposit regardless of money market fluctuations. Interest is calculated daily from the date of receipt of cleared funds and paid to you on the maturity date.

 

 

 

 

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