Treasury Fixed Term Deposit
If your business has surplus funds of £250,000 or more, and it won’t need instant access to all or part of this surplus cash, you may wish to consider a Treasury Fixed Term Deposit.
Good to know:
- Fixed terms are available from one month to one year. Different rates may apply depending on the term.
- There is no maximum limit to the amount of funds you can invest.
- You can open more than one Treasury Fixed Term Deposit Account.
- Your
deposit will be repaid to your Service Account unless you provide us with an
instruction to reinvest for another term (referred to as “Rollover”).
Need to know:
- The interest rate is fixed at the date of receipt of the initial lodgment and thereafter at each maturity date where the balance or part of the balance in the account is reinvested for another term.
- The minimum amount required to open and maintain the account is £250,000.
- Deposits must be made by transfer of cleared funds from a ‘Service Account’. You must maintain a Service Account for the duration of the Fixed Term Deposit.
- A “Service Account” means an account from our business current account range, a Business Investment Account, or a Servicing Account that You hold with the Bank.
- Cancellation rights under the Financial Conduct Authority (FCA) Banking Conduct of Business Rules do not apply to this account. You won’t have the right to cancel once the fixed term has commenced.
- You can normally only withdraw money on the maturity date – see below for exceptions.
Want to open an account?
Call us on 0345 850 9515
If you would like to speak to us about this account, you can call us on the number above, send us a secure message through District, or if you have a Relationship Manager you can contact them directly.
Terms available
The Treasury Fixed Term Deposit Account is available for a fixed term of either:
- one, two, three, four, five, six, seven, eight, nine, ten, eleven or twelve months or;
- for any term ending on a specified date as selected by you (subject to a minimum term of one month and a maximum term of one year).
Interest Rates
Information about current interest rates may be obtained from Danske Bank Markets by telephoning 028 9089 1100.
Phone lines are open 8am to 5pm Monday - Friday except for bank holidays in Northern Ireland. We may record or monitor calls to confirm details of our conversations, and for verification and quality purposes.
Withdrawals – exceptional circumstances
In exceptional circumstances you may apply to close the account or make a withdrawal from the account before the maturity date. If we approve your application the account will be closed, or the withdrawal will be made on the date the application is approved. No early withdrawal charge is payable in the event of early withdrawal or closure.
Additional information
The Bank must receive any instructions in relation to your maturing deposit, including any Rollover instructions, by the close of business on the business day before the maturity date. You can contact Your local branch or Relationship Manager, or by telephoning Danske Bank Markets on 028 9089 1100.
If we have not received an instruction prior to the maturity date, then, on that date the balance in your account (including capital and any interest which has been credited to the account) will be transferred to your Service Account and the interest rates and terms and conditions for your Service Account will apply.
We’ll send your statements when the account is closed and after six months if your account is active. You can choose digital statements if you have District. Just ask.
District may be temporarily unavailable when we carry out routine maintenance.
