Choose how long you want to put your money away for and know exactly how much interest you'll earn with our Business Fixed Term Deposit Account
With an interest rate of up to 5.52%, you’ll know exactly what you’ll earn
Start saving from £5,000 with confidence in how much you'll have when your term finishes
Choose how long you want to put your money away for – from 3 or 6 months or 1 or 2 years
|Interest rates||Minimum balance||Interest payment frequency|
3.51% - 5.52% AER*
|£5,000||Monthly or annually (or maturity for 3 and 6 month terms)|
*AER stands for annual equivalent rate. It shows what the interest rate would be if interest was paid and compounded once each year.
Gross rate is an annual contractual rate which is calculated daily and paid out at a frequency applicable to the product.
The amount of interest you earn depends on how long you put your money away for.
|3 months||6 months||1 year||2 years|
|Interest paid||Gross / AER*||Gross / AER*||Gross / AER*||Gross / AER*|
|Monthly||3.46% / 3.51%||3.94% / 4.01%||5.39% / 5.52%||4.14% / 4.21%|
|Annually||3.51% / 3.56%||4.01% / 4.05%||5.52% / 5.52%||4.21% / 4.21%|
Bringing in the right documents can smooth out the account opening process.
Everyone involved in opening the business account will need to provide proof of identity and proof of address, including:
A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need.
We can only accept original documents, not photocopies.
Valid Passport/EU national ID Card means in date, undamaged and machine readable. Unfortunately, we can’t accept handwritten passports or ID cards.
If you’re providing non-photographic ID, you’ll need to bring 2 proofs of address. We can only accept original documents, not photocopies.
Valid passport with your current visa (with at least 6 months left on it) or a Biometric Residence Permit.
Must have your name and current address on it. We only accept originals. It’s handy to have 2 of these with you, just in case.
If you are a sole trader you will need to provide one of the following documents:
The document provided must have the name of the business owner on it, the business address and the trading name (if applicable).
If you are a sole trader and you can’t provide any of these documents, a site visit can be arranged if your business address is different to your residential address.
Partnerships, including limited partnerships, will need to provide one of the following documents:
The documents provided must have the partner's names on it, the business address and the trading name (if applicable).
If you are a partnership and you can’t provide any of these documents, a site visit can be arranged if your business address is different to your residential address.
If you’re a limited liability partnership we will, with your permission, carry out a credit reference agency search. If the results are satisfactory, you won’t need to provide any further documents. Otherwise you will need:
If you’re a Limited Company we will, with your agreement, carry out a credit reference agency search. If the results are satisfactory you won’t need to provide any further documents. Otherwise you will need:
You can open this account if you’re a UK-based business or commercial customer.
We believe in letting you decide how you want to bank with us – whether that’s online, in store, over the phone, through your Relationship Manager or on the move with our app.
View your Fixed Term Deposit Account online or on your mobile.
You choose how long you want to lock your money away for and get a fixed rate of interest depending on the term. You can’t access your money during the term, but you get a better rate of interest than you would with our Business Instant Access Deposit Account.
If you think you’ll need access to your money, you might want to consider our Business Instant Access Deposit Account.
You can only make one deposit during the term, but you can have more than one Business Fixed Term Deposit Account.
Since 06 April 2016, interest on savings has been paid without tax being deducted. For more information, please contact the Business team on 0345 08 08 508.
Download our PDF to read when you like - it contains all the ins and outs of our Business Fixed Term Deposit Account.
There are a few different ways you can pay money into your Metro Bank account, the fastest being a payment from one bank to another. You can also deposit a cheque or pay cash* into your account at your nearest store.
*Please note that you may be asked additional questions about the source of funds to help keep your money safe.
We’ve introduced limits on the amount of cash customers can pay into their Metro Bank account each day.
*If you are depositing foreign currency into a ‘regular’ GBP or a Foreign Currency Account, this will be the GBP equivalent of the above limits using the exchange rate on the day of the deposit
The new cash deposit limit for Commercial Current Accounts won’t be introduced until early 2023. If you have this type of account, your Relationship Manager will be in touch nearer the time to discuss the new limit with you.
Changes to who can pay in cash
To pay cash into a Metro Bank account you must either:
You can only exchange cash over the counter if you’re a Metro Bank customer.
No – you choose to lock your money away for a term of 3 or 6 months or 1 or 2 years. If you think you might need access to it during this period, you might want to consider our Business Instant Access Deposit Account.
Yes - You can use internet banking to see your account details but you can’t make any transactions online from this type of account.
We offer a variety of Money Market accounts of different terms. Please contact us on 0345 80 80 500, or get in touch with your Relationship Manager for more information.
You can find the rates for any account that is not listed on the current rates page set out in Rates for Closed Business Products.
Check balances, make payments, see transactions and open new accounts any time - all with Business Online Banking.
Control your money on the move. Check balances, move money, make payments and more with our handy mobile app.
A friendly face and a quick answer - and all the usual payment services too.
Talk to a real person in our UK contact centre. Click the button below to check when we're available.