Fixed Term Savings

Whether you are saving for something special or making sure you are getting the most out of your savings, you can enjoy the security of a guaranteed rate on your Fixed Term Savings Account.

Click here to see what you should bring with you to open an account with us.

  • A choice of terms: 3 months, 6 months, 12 months, 18 months, 3 years
  • Fixed rates of interest Interest paid monthly or annually
  • One lump sum deposit
  • Minimum deposit of £500
  • Annual statements

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. *Gross pa. The amount of interest paid on an account before the deduction of income tax.

Things you should consider:

  • You can apply to open a Fixed Term Savings Account if you are aged 16 or over and a UK resident
  • You will need another Metro Bank account (such as our Current Account or Instant Access Savings Account) as interest on your Fixed Term Savings Account must be paid to a different Metro Bank Account in your name
  • The fixed term ends on the day before the relevant anniversary of the date of your deposit. For example, if you open a 3-year Fixed Term Savings Account on 1 January 2012, your deposit would be repaid on 31 December 2014
  • If the term ends over a weekend or on a bank or public holiday, the repayment date for your deposit will be the immediately preceding banking weekday
  • A closing statement will be provided at maturity
  • If you think you may need access to your money during the term, you should consider our Instant Access Savings Account from which withdrawals can be made.

The Savings Summary Box can be found on the Important Information Summary below.  Please download and read full details for this product below.

Downloads:
Fixed Term Savings Account Important Information Summary

Our Service Relationship with Personal Customers 

Interest Rates for accounts opened from 11th April 2014:

Term

Annual/Monthly Interest 

Gross Rate pa*%

Net Rate pa**%

AER***%

3 Years

Annual Interest

2.00

1.60

2.00

Monthly Interest

1.98

1.59 2.00

18 Months

Annual Interest 1.70 1.36 1.70
Monthly Interest 1.69 1.35 1.70
1 Year

Annual Interest

1.50

1.20

1.50

Monthly Interest

1.49

1.19

1.50

6 Months 

Annual Interest

1.10

0.88

1.10

Monthly Interest

1.09

0.87

1.10

3 Months****

Annual Interest

1.00

0.80

1.00

Monthly Interest

0.99

0.79

1.00

Interest is earned based on the minimum deposit required of £500.

Click here for details of all our savings interest rates.

*Gross pa.  The amount of interest paid on an account before the deduction of income tax.
**Net Rate pa. This means the interest rate you are paid after the deduction of income tax.
***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.
****This is a guaranteed rate over a fixed term. It's worth pointing out that our Instant Access Savings Account has the same rate which is variable, with instant access and a lower minimum balance. More information here.

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.

For further information, call our Local UK Call Centre on 0345 08 08 500.

Fixed Term Savings