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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 0.25% and 1.25% 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

TALK TO US ABOUT OUR BUSINESS FIXED TERM DEPOSIT ACCOUNT NOW

Come see us in store – we’re open 7 days a week, no appointments needed.

If you’re a commercial customer, speak to your Relationship Manager or Local Director. Their details will be listed alongside your local store

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.

Ways to bank


Setting up your online banking and mobile app

View your Fixed Term Deposit Account online or on your mobile.

Business online banking

Business mobile banking app


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.

Fees and charges

Fees and charges

Interest ratesMinimum balanceInterest payment frequency
0.25% - 1.25% 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.

TermRate (AER)Interest paid
1 month 0.25% Monthly or on maturity
3 months 0.40% Monthly or on maturity
6 months 0.60% Monthly or on maturity
1 year 1.00% Monthly or annually
2 years 1.25% 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

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) (766KB)

Our Service Relationship with Business Customers (PDF)(1.1MB)

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FAQs

  • 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.

  • 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

  • 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.

    Find out more about internet banking 

  • 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.

  • 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.

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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.