Good to know
- You can open more than one account
- Invest for as little as 1 week or as long as 5 years
- You can also choose a maturity date - within those time limits - that suits you
- You can open an account in your sole name, using eBanking, if you are registered for this service (note - not all terms are available)
- There is no upper limit on how much you can invest (unless you open the account using eBanking where the maximum investment is £1,000,000)
- You can arrange for your investment to automatically roll over into a new Danske Fixed Term Deposit at the end of the term, at the interest rate applicable at that time
Need to know
- You must be aged 16 or over to open this account
- Interest rate is fixed for the chosen term, with interest paid on maturity
- You must invest a minimum of £5,000
- Deposits can only be made into the account on the day it is opened or by the close of business on the business day before the maturity date if the account is rolled over for another term
- You must have a service account (Danske current account, Midas Gold or Summit account) for the duration of the Danske Fixed Term Deposit
- Withdrawals can normally only be made on the maturity date. If permitted before the maturity date, early withdrawal charges will apply
You can invest for a term of:
- 1, 2 or 3 weeks
- 1, 2, 3, 4, 5, 6, 7, 8, 9, 10 or 11 months
- 1, 2, 3, 4 or 5 years
Deposits are only accepted on the date 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.
Withdrawals - special circumstances
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.
Please note that cancellation rights under the FCA’s Banking Conduct of Business Rules do not apply to this account. You will have no right to cancel the agreement once the fixed term has commenced.