Fixed Term Savings

Benefit from all of the amazing features below:

  • Choose your Account Term – Choose between 3 months, 6 months, 12 months, 18 months and 3 years
  • Fixed rates with the choice of interest paid monthly or annually
  • Higher rate of fixed interest for savings you don’t need access to right away

Interest Rates for accounts opened from 19 April 2016:



    Interest Paid


    3 Years 1.60 Monthly or Annually

    18 Months

    1.40 Monthly or Annually
    1 Year


    Monthly or on maturity
    6 Months 


    Monthly or on maturity
    3 Months


    Monthly or on maturity

Minimum opening balance £500.

  • Interest will be paid without tax deducted. You will need to pay tax directly to HMRC if you exceed your Personal Savings Allowance**

For full details on interest rates on all of our Savings Products please click here.

Please click here for information on relevant charges for this product and for all other charges on our other products.

The Savings Summary Box can be found on the Important Information Summary below. Before you apply, please download and read full detail of this product below:

Fixed Term Savings Account Important Information Summary
Our Service Relationship with Personal Customers 
Personal Banking Services Brochure

*AER (Annual Equivalent Rate). This is a notional rate used for interest paying accounts which illustrates what the interest would be if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
**Personal Savings Allowance.
The amount of savings interest you can earn each year before paying tax on it

Apply in any Metro Bank store

Visit your local store to apply for a Fixed Term Savings Account.  You can download information on what you will need to open an account with Metro Bank here.

What’s the minimum amount I can deposit?
The minimum you can deposit to earn interest is £500

What communication will I receive when I open a Fixed Term Account online?
When you open a Fixed Term Account, an Instant Access Account will be opened automatically for you from which to transfer your money to your Fixed Term Account. You will receive a confirmation email on opening your account for your Fixed Term Account and then one for your Instant Access Account, both of which contain product-specific information. You will then receive an email containing Customer Terms and Conditions.

Why is an Instant Access Account opened for me when I open a Fixed Term Account Online?
An Instant Access Account will be opened automatically when you open a Fixed Term Account online. The Instant Access Account is used to transfer your money into your Fixed Term Account and also used when your account has matured to transfer your money and interest from your Fixed Term Account.  Once the money has been transferred to the Fixed Term Account it can be used as a normal Instant Access Account.

If I have opened a Fixed Term Account online, when will my money be transferred from my Instant Access Account to my Fixed Term Account?
If you transfer the full amount into your Instant Access Account, your money will be automatically transferred into your Fixed Term Account within one working day. If you choose not to transfer the full amount into your Instant Access Account immediately, you have 30 calendar days to pay in your money into your Instant Access in order for your funds to be transferred into your Fixed Term Account. You may make multiple deposits into your Instant Access to fund your Fixed Term within the 30 days period.

Can I change the interest frequency option on my Fixed Term Account?
An interest frequency option is given during the application process. Please contact us if you wish to change interest frequency.

Can I change the deposit amount on my Fixed Term Account once I have opened the account online?
If you would like to decrease the amount you want to deposit, then you should fund your Instant Access Account with only with the amount you wish to pay in. This amount will be transferred to your Fixed Term after 30 calendar days of opening your account.  If you wish to pay in more than the initial amount agreed, you can just open a second account for the additional amount. 

When do I start earning interest on my Fixed Term Account?
You start earning interest immediately once your Fixed Term Account is fully funded. If you have opened your account online and only fund part of your deposit amount into the Instant Access Account, then you will start earning interest once your money has been transferred to your Fixed Term Account after 30 calendar days from opening.

Where will interest and matured funds be paid into?
Your money and any interest earned will be automatically transferred into your nominated Metro Bank Account. If you opened your Fixed Term Account online, then your money and interest will be transferred into the Instant Access Account that was opened automatically at account opening. You are able to set up a beneficiary account from your Instant Access Account to transfer these funds to an external account.

What is an MB Number and why do I receive a different MB Number on my emails?
An MB Number will appear on the emails you receive once you open your account online. An MB Number is an email reference number and is not part of your account details. Your account number and sort code are sent to you by email after the account has been opened.

Can I close my Fixed Term Account if I change my mind?
If you wish to close your Fixed Term Account, you have 14 calendar days from when you opened your account to withdraw the full amount without penalty. Once the 14 days have passed, you will not be able to withdraw your funds until the end of your term. You can do this by calling us or visiting one of our Stores.

Are my deposits covered by the FSCS (Financial Services Compensation Scheme)?
Yes. Your eligible deposits with Metro Bank PLC will be protected up to a total of £75,000 by the FSCS, the UK’s deposit guarantee scheme. Joint accounts receive £150,000 of protection. Temporary high balances above this level can be protected for up to 6 months. Please click here for further information or visit

Can I apply via post?
No we are very sorry, you can apply via online or in stores 7 days a week.

If you have any other questions please call us 24/7 on 0345 08 08 500.

Fixed Term Savings