At certain times in your life, you may have a lump sum of money to put away.

It could be from an inheritance, a retirement fund or even from savings built up over the years.

 

With our Fixed Rate Saver for personal customers, if you have a lump sum of money you can put away for a fixed term, you can benefit from the security of a fixed rate of interest, regardless of money market fluctuations.

 

The minimum deposit to open is £5,000 and you can save up to £200,000 in the Fixed Rate Saver. You may open a maximum of four accounts.

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Features and benefits

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    Fixed interest rate for your chosen term

    The Fixed Rate Saver offers attractive rates of interest, with the rate fixed for the term of the deposit, regardless of money market fluctuations.

     

    You can choose a term of 6, 12 or 24 months.

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    Earn a fixed interest rate of 1.50% Gross* p.a. /AER** for a 24 month term.

    Interest on the account is calculated daily from the date of receipt of cleared funds until maturity date.

     

    For the 24 month term, interest earned in the first year will be paid into the Fixed Rate Saver account on the anniversary of account opening, where it will then earn interest for the second year. Interest earned in the second year will be paid on maturity.

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    Earn a fixed interest rate of 1.10% Gross* p.a. /AER** for a 12 month term.

    Interest on the account is calculated daily from the date of receipt of cleared funds until maturity date.

     

    For the 12 month term, interest will be paid on maturity.

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    Earn a fixed interest rate of 0.60% Gross* p.a. / AER** for a 6 month term.

    Interest on the account is calculated daily from the date of receipt of cleared funds until maturity date.

     

    For the 6 month term, interest will be paid on maturity.

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    No withdrawals or further deposits until maturity

    Following the initial lodgement, you cannot make any further deposits or withdrawals to your account until maturity. However at the end of the term, if you decide to reinvest, we will allow you to make an additional single lodgement of £1,000 or more during the five business days prior to maturity, providing the total balance does not exceed £200,000.

     

    Withdrawals can only be made at maturity.

     

    Before opening this account, it is very important that you consider your short term needs and ensure that you have sufficient funds in short term accessible deposit products.

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    Options available at maturity

    At account opening, and during the term of your account, you can give us maturity instructions to tell us what you would like to do with your funds when the account matures.


    You can choose to reinvest, withdraw some of your funds and reinvest the balance, or withdraw all of your funds and close your account.

     

    It is very important to be aware that if you don't give us maturity instructions, your funds will be automatically reinvested for the same or a similar term at the applicable rate and you won’t be able to access your funds until the next maturity date.

     

    We’ll send you a letter one month before your account matures to remind you what’s going to happen with your funds. If you want to give us a different maturity instruction, just contact your branch up until close of business on the Business Day before your Maturity date. You can also change your maturity instruction using our Online Banking service.

     

    If your money is reinvested, and then you change your mind, you can cancel your account, by contacting us in writing within 14 days of the reinvestment.

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    Open your account today

    • If you're registered for our Online Banking service, simply open a new Fixed Rate Saver Account by selecting the 'Apply & Open' option.
    • Alternatively call into your nearest First Trust Bank branch or call us on 0345 6005 925 if you would prefer to make an appointment.
    • We will need to see proof of your identity and address (such as your passport, driving licence and a gas or electricity bill).  If you are not sure what proof we accept, click here or speak to a customer service adviser on 0345 6005 925.  
    • Complete and sign the relevant forms and we will do the rest.
     
    Find out more by downloading a brochure or by reading our question and answer section.

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*Gross stands for contractual rate of interest payable before the deduction of income tax at the rate specified by law.

**AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year.

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Fixed Rate Saver Account Summary Box

This summary box sets out important information that applies to our Fixed Rate Saver account. You should carefully read this document along with the Fixed Rate Saver Terms and Conditions to allow you make an informed decision as to whether this product is right for you.

 

to view the summary box in PDF format, please click below link

 

If you require this summary box in PDF format, please download here.

Talk to us

We’re ready to help you start saving today.

 

Simply call 0345 6005 925 , or drop in to any First Trust Bank branch. We’ll be happy to answer any questions you may have and help you find the right kind of savings account for you.

 

† Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.

Help and guidance

 

Terms and conditions

View the Fixed Rate Saver terms and conditions

 

Frequently asked questions

View the frequently asked questions about the Fixed Rate Saver

 

Savings calculator

Find out how even the smallest amount of regular savings will add up

 

Deposit rates

Find out more about our deposit account rates

 

Help Centre
For all service related queries please visit our Help Centre.

 

Important information about taxation

Find out how we apply tax on savings in line with current legislation.

 

Financial Services Compensation Scheme

Check what protection the Financial Services Compensation Scheme offers you.

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