Danske Fixed Term Deposit

If you know that your business won’t need instant access to all or part of its surplus cash, it makes sense to invest in a Danske Fixed Term Deposit.

Account overview

  • You can invest any amount (from a minimum of £5,000) for a variety of fixed terms. As the amount, term and interest rate are fixed at the time of deposit, you know exactly what interest you will receive for the entire period.
  • You can arrange for your investment (including or excluding any accrued interest) to automatically rollover into a new Danske Fixed Term Deposit at the end of the term at the interest rate applicable at that time.
  • You must have and maintain a Service Account for the duration of the Danske Fixed Term Deposit.
  • Withdrawals can normally only be made on the maturity date.
  • Interest is paid on maturity.

Call us:

0345 850 9515


The minimum deposit required to open and maintain an account is £5,000; there is no maximum although please note no further investments can be made during the term.

Deposits are only accepted on the date that the account is opened or by close of business on the business day before the maturity date if the account is rolled over for another term. Further deposits cannot otherwise be made to the account, but you can open more than one account.

Deposits must be made by transfer from another account, a ‘Service Account’, where the funds have cleared. ‘Service Account’ means an account from our business current account range, a Servicing Account or a Business Investment Account. You will be required to maintain a Service Account for the duration of the Danske Fixed Term Deposit Account.

Cancellation rights under the FCA’s Conduct of Business Rules do not apply to the account. You will have no right to cancel the agreement once the fixed term has commenced.

In special circumstances, you may apply to us in writing to close a Danske Fixed Term Deposit account (or make a withdrawal from the account) before the maturity date. If we approve your application to close the account (or to make a withdrawal from the account) and the term of the account is for six months or longer, your account will not be closed (or the withdrawal will not be made from the account) until ninety days after the date the application is approved. For all other terms, the account will be closed (or the withdrawal made from the account) on the date the application is approved. An early withdrawal charge will apply depending on when the withdrawal is made or the account is closed, as well as a £10 administration fee. This may result in you not achieving the published fixed interest rate. The Bank may, at its sole discretion, refuse to permit an early withdrawal.

Deposits above £249,999 are eligible for a Treasury Fixed Term Deposit account. Contact Markets on 028 9089 1111 for more information. Lines are open 8am to 5pm Monday – Friday except for bank holidays or other days in Northern Ireland when the bank is not open for business.

Prices and conditions

Rates correct as at 1 March 2022

Interest rates

We have the following rates available:

  • Our 1 year term offering a rate if 0.25% Gross/0.25% AER on balances £5,000 and over.
  • Our 2 year term offering a rate of 0.35% Gross/0.35% AER on balances £5,000 and over.

Please ask at any branch for any of our other Danske Fixed Term Deposit rates.

Rates only apply to cleared funds lodged to a term deposit account on the day on which the rate is quoted. Rates may be withdrawn without notice.

Interest is paid ‘gross’. This means that we do not deduct tax from interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest. If you are a sole trader or a partnership (where all the partners are individuals), this will depend on your total taxable income, interest that you receive and your Personal Savings Allowance.

AER stands for 'Annual Equivalent Rate' and illustrates what the interest rate would be if interest was paid and compounded (paid on the total balance including previous interest) once each year.

The terms available are:

  • One or two or three weeks;
  • One, two, three, four, five, six, seven, eight, nine, ten or eleven months;
  • One, two, three, four or five years; or
  • For any term ending on a specified date as selected by you (subject to a minimum term of seven days and a maximum term of five years).

Important information

This section contains the important information relating to your account.