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Return to Deposits HomeBusiness Elevator Fixed Term Deposit Account

Give your business deposits the lift they deserve

Our Elevator Fixed Term Deposit Account could help you make the most of your business deposits, giving you an elevated rate after 3 months. The elevated rate is a full 1% higher than the initial rate for the first 3 months. So it’s an account that works hard for your business.

Fixed Term Interest rates:

- 2% Gross¹/2.01% AER² fixed Initial Rate for the first 3 months

- 3% Gross¹ /3.03% AER² fixed Elevated Rate for the second 3 months 

This fixed term deposit account includes the following features:

• Single lodgement only 
• Minimum lodgement £10,000
• Maximum lodgement £2 million
• Six month term
• Access to funds available on date that first three month period ends and second three month period starts (which will be the same date)
• Interest is paid at the end of the first 3 month period and on expiry of the Term.

• There is no minimum or maximum withdrawal amount at the end of the first three month period. However, the balance remaining in the account after the withdrawal
  must be a minimum of £10,000, otherwise the account must be closed

• Early closures are at our sole discretion and subject to a breakage charge. If the interest you’ve earned doesn’t cover this, you may get back less than you put in. Please see the Terms and Conditions for further details.

Our Deposit Services

At Bank of Ireland UK our Business Managers and Advisers have experience and expertise across a range of businesses and are ready to talk to you about our deposit services which can be tailored to meet the needs of your business.

Click here to view our summary box

Click here to download the Business Elevator Fixed Term Deposit Account Terms and Conditions

Talk to us today about deposit options for your business

To apply, or for more information, send us an email or contact your local business team

¹The gross interest rate represents the fixed rate payable before the deduction of income tax at the prevailing rate.

²AER stands for Annual Equivalent Rate and illustrates what the interest would be if the interest rate was paid and compounded each year. As every advertisement for a savings product that quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect over time. The AER rates shown here are illustrative of what the rate payable would be if it were paid on an annual basis.