What is a Fixed Term Deposit?
A Fixed Term Deposit is an interest-bearing bank deposit where both the interest rate payable and the length of the term are fixed. Your money will be safely locked away for the duration of the term and cannot be withdrawn. Fixed Term Deposits.
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 These products are a limited offer, subject to availability and may be withdrawn at any time without prior notice.
Please note, there are currently no Fixed Term Deposit products available at this time.
Fixed Term Deposits from Close Brothers Savings are an easy way to save for the future, with determined rates of return on your savings.
These products are a limited offer, subject to availability and may be withdrawn at any time without prior notice. Once you have requested your Fixed Term Deposit online you will know that you have secured the product at that rate, subject to funds being received.
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 paid out to you annually
For growth products, annual interest payments are added to the principal deposit amount but paid out to you 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
withdraw all or part of your maturity proceeds
If you choose to withdraw your matured funds, please note that they will be paid to your nominated account via BACS payment. The payment may take 3-5 working days to clear.
Guide to Fixed Term Deposits
Download our helpful guide to find out:
More information to help you decide if an Fixed Term Deposit is the right choice for you
FAQs on before and after you invest in Fixed Term Deposits
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.