Product Overview

2 Year Fixed Term Deposit

AER*
2.00% Gross Annual Interest | 2.00% AER*
Min Deposit
Minimum Deposit GBP 10,000
Max Deposit
Maximum Deposit GBP 250,000
What is Pay Away Interest?

Pay Away Interest is where your annual interest is paid into your nominated bank account, rather than being added to your fixed term deposit account. This means you will receive interest each year, not just when the product reaches maturity.

Apply Now (with Pay Away Interest)
Product Summary

Before applying, please make sure you have read the Important Documents and Key Information below.

If you already have an account with Arbuthnot Direct, you can apply for a new fixed term deposit through your online account.

*AER (Annual Equivalent Rate) represents the actual interest rate you will receive on your product by the end of the fixed term, if compound interest is paid on an annual basis.

Product
2 Year Fixed Term Deposit
AER
2.00%
Gross Annual Interest
2.00%
Min Deposit
10,000
Max Deposit
250,000
What is Pay Away Interest?

Pay Away Interest is where your annual interest is paid into your nominated bank account, rather than being added to your fixed term deposit account. This means you will receive interest each year, not just when the product reaches maturity.

Apply Now (with Pay Away Interest)
Product Overview

Before applying, please make sure you have read the Important Documents and Key Information below.

If you already have an account with Arbuthnot Direct, you can apply for a new fixed term deposit through your online account.

*AER (Annual Equivalent Rate) represents the actual interest rate you will receive on your product by the end of the fixed term, if compound interest is paid on an annual basis.

Important Documents

Product Summary
(Pay Away Interest)

Terms & Conditions

FSCS Information Sheet

Key Information

  • Fixed term deposit account – you cannot make withdrawals or transfers or close the account during the fixed term period.
  • Cooling-off period of 14 calendar days – if you change your mind within 14 calendar days from the date your account was opened, any money deposited will be returned to the account it was sent from. We cannot return any money after this 14 calendar day period. If you do not deposit the minimum amount during the 14 calendar day period, your account will be automatically closed.
  • Annual Interest – we pay interest annually, on the anniversary of the date you opened your account. Your account will accrue interest from the day that we receive your initial deposit.
  • Gross Interest – we pay interest gross. Under the Personal Savings Allowance, the first £1,000 of income of any interest earned is tax free for basic rate taxpayers. The first £500 is tax free for higher rate taxpayers, and no Personal Savings Allowance applies if you’re an additional rate taxpayer.
  • If the interest you earn is less than your Personal Savings Allowance, you don’t have to do anything; if the interest you earn is more than your Personal Savings Allowance, you must pay tax on the difference. If you fill in a Self Assessment tax return you should carry on doing this as normal. For further details on how tax will be collected, refer to the HMRC guidance on Tax on Savings Interest or visit gov.uk.
  • Gross is the contractual rate of interest payable.

Eligibility

You can open a Fixed Term Deposit Account as long as you:

  • are aged 18 or older
  • are a UK resident and a UK taxpayer only
  • have a UK bank or building society account
  • have at least £10,000 to open your account
  • are not a US Person*

* US Person – this term includes a person who is a citizen or resident of the US, a person who meets the substantial presence test, or a person holding a US Green Card.

Product Features

Online Account

Arbuthnot Direct’s fixed term deposits are entirely online. Login to view and manage your account at any time by clicking the blue Login button visible at the top of the page.

Easy to open

Complete identity checks and place your money into a deposit account – all online at your convenience.

Transparent fixed rates

The rate stated in our literature is the rate you receive for the duration of your fixed term deposit.

No fees

We do not charge fees to open fixed term deposit accounts.

Managing your account online

  • Once your account has been opened, you will receive an email with your Logon ID. You will need this to log into your online account. Your password is the one you set during the application process.
  • Your online account lets you view your product details, transaction history, and important documents and communications from Arbuthnot Direct. You can also send us secure messages from within your online account.
  • All communication with you will be via your online account. Each time a new document has been uploaded for you to review, we will send you an email notification. (Please note: Arbuthnot Direct will not send any account information to you via email – all communication of this nature will only be available to you via your online account.)
  • We produce an annual statement, and an annual interest certificate will be produced at the end of each tax year to help you with your Personal Savings Allowance. These will be available to view on your online account. (Please note that we will not send paper copies.)

Maturity

  • Your fixed term deposit will mature on the anniversary of the date you opened your account. We will be in touch with you prior to this date to let you know about the available maturity options.

Frequently Asked Questions