Earn more on your business deposits
Business Fixed Term Deposit Account
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
Plan ahead
With interest rates between 0.20% and 0.85% AER (depending how long you put your money away for), you’ll know exactly what you’ll earn
Build on your deposit
Start saving from £5,000 with confidence in how much you'll have when your term finishes
Your money, your choice
Choose how long you want to put your money away for – from 1 month to 2 years – with interest rates going up the longer it’s in
Interest Rates, Fees and Charges
Interest Rates, Fees and Charges
| Interest rates | Minimum balance | Interest payment frequency |
|---|---|---|
| 0.20% - 0.85% AER | £5,000 | Monthly, annually or on maturity depending on term |
AER stands for annual equivalent rate. It shows what the interest rate would be if interest was paid and compounded once each year.
Interest rates
The amount of interest you earn depends on how long you put your money away for.
| Term | Rate (AER) | Interest paid |
|---|---|---|
| 1 month | 0.20% | Monthly or on maturity |
| 3 months | 0.30% | Monthly or on maturity |
| 6 months | 0.40% | Monthly or on maturity |
| 1 year | 0.75% | Monthly or annually |
| 2 years | 0.85% | Monthly or annually |
Opening a Fixed Term Deposit Account
Opening a Fixed Term Deposit Account
What we need to open your account
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:
- Account operators (authorised signatories or nominated persons)
- Responsible individuals (anyone who directly or indirectly controls 25% or more shares)
- Company officials
Proof of identity
A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need.
Proof of address
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.
As a Sole Trader
As a Partnership
As a Limited Liability Partnership
As a Limited Company
Additional Information
Additional Information
Eligibility
You can open this account if you’re a UK-based business or commercial customer.
Bank the way you want
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.
Setting up your online banking and mobile app
View your Fixed Term Deposit Account online or on your mobile.
Deposit terms
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.
Your account and tax
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.
Get all the details on our Business Fixed Term Deposit Account
Download our PDF to read when you like - it contains all the ins and outs of our Business Fixed Term Deposit Account.
Business Fixed Term Deposit Account Details (PDF) (458KB)
Our Service Relationship with Business Customers (PDF)(1.1MB)
FAQs
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Can I close my account early?
No – you choose to lock your money away for a term of 1 month, 3 months, 6 months, 1 year 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.
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Why do I need another Metro Bank account if I have a Business Fixed Term Deposit Account?
When your account matures, your money will be paid into a Metro Bank Business Account that you nominate. This can be a Metro Bank Business Bank Account or our Business Instant Access Deposit Account.
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Can I use internet banking with my Business Fixed Term 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.
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Do you offer any other terms?
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.
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Where can I find the rate for my Metro Bank account that’s now closed to new Business Customers?
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.
Your ways to bank
Online
Metro Bank 24/7. Check balances, make payments, see transactions and open new accounts any time - all with internet banking
Mobile
Control your money on the move with our mobile banking app. Check balances, move money, make payments and more wherever you are.
In-store
A friendly face and a quick answer. And all the usual payment services too. We're open 362 days a year
Telephone
If you need help you can talk to a real person in our UK contact centre 24 hours a day, 7 days a week, 365 days a year
Some more things you may like...
Banking with us
Instant access holding account
Earn 0.20% AER variable interest on client funds and withdraw your cash whenever you like.
Saving with us
Easy access to your cash
Get instant access to your cash 24/7 and earn 0.25% AER variable interest on your savings.
Ways to bank
Internet banking for business
Which online banking solution is best for your business? Get the basics, add Bacs and CHAPS, or go for our full commercial platform.
Borrowing from us
Business Overdrafts
Get help when you need it most, with a fixed rate for arranged overdrafts of less than £25,000 and no hidden fees.