Reinvesting in a Fixed Term Deposit
Our Fixed Term Deposits are provided by Close Brothers Savings and are ideal for those seeking the safety and simplicity of fixed returns on long-term cash savings.
Choose to invest between 1 and 5 years into either an income or growth product to suit you. The minimum deposit is £10,000 and there is no charge to hold a deposit on our platform. These products are a limited offer, subject to availability and may be withdrawn at any time without prior notice.
Online fixed term deposits are currently unavailable, however, existing SIPP holders are still able to reinvest by completing and returning the following application form to us.
Important - by completing this form and accepting the terms and conditions below, you will be opening your new deposit directly with Close Brothers Savings.
Once purchased, we will still make your deposit available to view on your online portal.Download the Fixed Term Deposit postal application form
Close Brothers Savings postal rates
|Deposit Term||Deposit Type||Rate|
|2 year||Income & Growth||2.20%|
|3 year||Income & Growth||2.30%|
|5 year||Income & Growth||2.50%|
These products are a limited offer, subject to availability and may be withdrawn at any time without prior notice.
Cash interest rate
The gross interest rate on any cash held (excluding fixed rates on FTDs and excluding any cash held within the 'other assets' section of your portfolio) will be calculated as the daily Bank of England base rate minus 0.4%, subject to a minimum of 0%.
Why choose a Close Savings Fixed Term Deposit?
Choose to invest between 1, 2, 3 or 5 years into either an income or growth product to suit you
If you invest in an income Fixed Term Deposit, interest is accrued and capitalised annually
For growth products, annual interest payments are added to the principal deposit amount but paid back into your SIPP at the end of the term
There is no charge to hold a Fixed Term Deposit on our platform
Save from a minimum of £10,000 to a maximum of £1 million per deposit
With competitive interest rates, your deposits are covered by the Financial Services Compensation Scheme (FSCS) up to the depositor protection limit
At maturity, the deposit and any accumulated interest will be paid into your product cash account.
You can then choose to:
reinvest into another Fixed Term Deposit
invest in other instruments on the Self-Directed service
Members of the FSCS
Your eligible deposits with Close Brothers Limited (and the associated trading styles of Close Brothers Treasury and Close Brothers Savings) are protected up to a total of £85,000 by the Financial Services Compensation Scheme ('FSCS'), the UK's deposit protection scheme. This limit is applied to the total of any deposits you have with the following: Close Brothers Savings and Close Brothers Treasury. Any total deposits you hold above the £85,000 limit between these brands are not covered.