Business Fixed Term Deposits

Features and Benefits

• Competitive rates: Benefit from competitive fixed rates to maximise growth of your business savings.
• Application process: Open in branch and also avail of a Savings Review to determine the most suitable account for your business.
• Guaranteed return: Get peace of mind that your savings are secure and growing, with a guaranteed return at the end of your fixed term on a minimum deposit of €5,000.
• €2 million max limit: After you have lodged your minimum deposit of €5,000, you can make multiple lodgements up to €2 million for the first 14 days after opening the account.
• Simple roll-over process: On maturity, we will automatically reinvest your funds into an Instant Access Account unless you chose to close the account. More details on what happens when the term ends. Instructions for another fixed term can be provided by contacting our Deposit Maturities Team, or by visiting your local branch.

Understanding the Account

• Withdrawal options:
  • You can withdraw some or all of your funds within 14 days from the date of account opening without incurring any charges or penalties.
  • If you wish to withdraw your funds after 14 days from the date of account opening or before the term ends, an early withdrawal charge will apply.

Annual Equivalent Rate (AER) illustrates what the interest would be if interest was paid and compounded each year. Our AER calculation assumes that the account is held for a year and that the interest rate remains constant.

Deposit Interest Retention Tax (DIRT): A tax payable on the interest you earn from your Savings or Deposit Account. It is automatically deducted when you receive your funds. However, you may not have to pay DIRT. More information on DIRT exemptions.

Terms and Conditions | More information.

When the Term Ends: Next steps

When your Fixed Term Account matures, it will automatically rollover into an Instant Access Account should you not choose an alternative arrangement for your funds. This account will be at a variable interest rate which is currently 0.01% Gross/AER. If you choose to roll the account for another fixed term, you will have 14 days to lodge additional funds or make a withdrawal. 

I want to reinvest my funds

Should you want to reinvest your funds and get the most from your Deposit Account, you can rollover the account for another fixed term by:

1. Contacting our Deposit Maturities Team on 0818 600 209 or +353 1 655 0509. Lines are open from 9am to 5pm, Monday to Friday (excluding Bank Holidays). Should the account have instructions requiring more than one signatory to complete transactions, the necessary signatories will also need to contact the Deposit Maturities Team to complete the rollover. 
2. Making an appointment at your local branch.

I don’t want to reinvest my funds

If you don’t want to reinvest all your funds for another fixed term you can:

1. Withdraw: Transfer your funds to your Current Account, Notice Savings Account, or Demand Deposit Account. (Don't have these accounts? – see step 2).
2. Full balance withdrawal and account closure: To withdraw all the funds and close the account, the necessary signatories will need to attend a branch with valid photo ID and proof of address. Acceptable forms of ID and proof of address.