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. A service account means a Danske Bank current account or a Business Investment 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.