Danske Fixed Term Deposit

Save a lump sum for a set amount of time with a fixed rate of interest.

Good to know

  • You can invest for fixed terms of as little as one month or as long as five years.
  • Or you choose an end date that suits you between one month and five years.
  • You can save as much as you like.
  • You can ask for your money to automatically reinvest into a new Danske Fixed Term Deposit at the end of your term.
  • You can have more than one account.
  • If you have eBanking, you can open an account online in your own name (not all fixed terms are available over eBanking and the maximum deposit is limited to £1,000,000).

Need to know

  • You must be 18 or over to open this account.
  • The interest rate is fixed for your chosen term and interest is paid when your term ends (known as ‘maturity date’).
  • The minimum amount required to open and maintain the account is £5,000. You can only put money into this account on the day it’s opened or, if you choose to reinvest for another term, on the business day before your existing term ends.
  • You must have a Danske current account or an instant access savings account (excluding Cash ISA), for the whole term of your Fixed Term Deposit account.
  • You can normally only withdraw money on the maturity date –see below for exceptions.

Want to open an account?

You can open an account in any Danske Bank branch or by phoning 0800 660 033


Apply using eBanking

Terms available

You can invest for a term of:

  • 1, 2, 3, 4, 6 or 9 months
  • 1, 2, 3, 4 or 5 years

Withdrawals - exceptional circumstances

In exceptional circumstances you may apply to us in writing to close or take money out of the account early. If we approve your application, the money will be taken out or the account will be closed on the date the application is approved.

Please note that cancellation rights under the FCA’s Banking Conduct of Business Rules don’t apply to this account. You won’t have the right to cancel the agreement once the fixed term has started.

Interest rates

Rates correct as at 4 January 2024

We have a number of rates available including:

Account Gross/AER (fixed)
Balances £5,000 – £249,999
Gross/AER (fixed)
Balances £250,000
and over
Danske Fixed Term Deposit
Personal and Business customers
6 months 3.80%/3.84% 4.10%/4.14%
9 months 4.00%/4.03% 4.30%/4.33%
1 year 4.30%/4.30% 4.60%/4.60%
2 years 4.50%/4.40% 4.50%/4.40%
3 years 4.00%/3.85% 4.00%/3.85%
4 years 3.60%/3.42% 3.60%/3.42%
5 years 3.50%/3.27% 3.50%/3.27%

Have a look at our Savings interest rate page for the full range of rates. We may change rates at any time.

Interest is paid 'gross'. This means that we do not deduct tax from the interest we pay. Depending on your personal circumstances, you may have to pay tax on your interest (this may change in the future).

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.

Additional information

At the end of the term, we'll move your initial deposit, plus any interest you've earned, to your servicing account (your Danske current account or an instant access savings account (excluding Cash ISA) unless you tell us you want it paid in a different way.

For terms of one year or more, you’ll get statements at least every six months.

For terms of less than one year, 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 eBanking. Just ask.

Danske eBanking may be temporarily unavailable when we carry out routine maintenance.

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