Community Fixed Term Deposit Account
Earn more for your community
If your club, society or charity has some money that isn’t needed straight away, you could earn interest on it by putting it in a Community Fixed Term Deposit Account for a year
No surprises
With a fixed interest rate of 1.75% AER, you know exactly how much interest you’ll earn
Deposits from £5,000
Start saving from £5,000 without any set-up or monthly maintenance fees
Simple 1-year term
Put your money away for a year secure in the knowledge it’ll grow
Interest Rates, Fees and Charges
Opening a Community Fixed Term Deposit Account
Opening a Community Fixed Term Deposit Account
What we need to open your account
Bringing in the right documents can smooth out the account opening process.
To open a Community Account, you’ll need to be a club, society or charity. Different types of organisations will need different documents:
- Unregistered Charity: Minutes of the Meeting and Constitution documents
- Registered Charity: Minutes of the Meeting and Charity Commission number
- Registered and Limited Charity: Charity Commission number and Company Registration number
- Club/Society/Association: Minutes of the Meeting and Constitution documents. If there are no Constitution documents available a letter on headed paper confirming the same information is acceptable.
Minutes of the Meeting need to confirm
- An account is to be opened with Metro Bank in the name of the organisation
- Who the Key Officials are (Chairperson/Treasurer/Secretary)
- Who the signatories of the account will be and the signing rules for the account
- The Minutes of the Meeting must be signed by two Key Officials, where there are two or more
Constitution documents need to confirm
- What the organisation has been setup to do
- Who the appointed Board/Committee members are
- Who the Key Officials are (Chairperson/Treasurer/Secretary)
Proof of identity
A valid passport, EU national ID card or UK driving licence is ideal, and may be all we need.
Show suitable ID for UK, EEA or Swiss Nationals Hide suitable ID for UK, EEA or Swiss Nationals
Photographic ID
- Valid UK/EEA/Switzerland passport
- Valid UK full photocard driving licence
- Valid UK provisional photocard driving licence
- Valid EU member state national ID photocard
- Valid firearms certificate or shotgun licence.
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.
Non-photographic ID
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 old-style UK driving licence (no photo)
- HMRC documentation (PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill) issued in the last 3 months or valid for the current tax year. We can’t accept P45 or P60 forms
- Notification letter from Benefits Agency/Local Authority confirming your right to benefits (Department for Works and Pensions (including Jobcentre Plus), Benefits Agency or Veterans Agency), dated within the last 12 months
Show suitable ID for other nationalities Hide suitable ID for other nationalities
Valid passport with your current visa (with at least 6 months left on it) or a Biometric Residence Permit.
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.
Show suitable proofs of address Hide suitable proofs of address
- Current UK full photocard driving licence
- Current UK provisional photocard driving licence
- Current old-style UK driving licence (no photo)
- Council Tax bill (valid for the current financial year)
- HMRC documentation (PAYE Coding Notice/Tax Notification/Self-Assessment/Statement of Account/NI contributions bill valid for the current tax year issued by Job Centre Plus) dated within the last 3 months. We can’t accept P45 or P60 forms.
- Notification letter from Benefits Agency/Local Authority confirming your right to benefits (Department for Works and Pensions, Jobcentre Plus, Benefits Agency or Veterans Agency), dated within the last 12 months
- Current Tenancy Agreement, from a local council or a recognised letting agency
- Bank, Building Society, Credit Union statement, dated within the last 3 months
- Credit card statement, dated within the last 3 months
- Mortgage statement from a recognised lender, dated within the last 12 months
- Life assurance/life insurance policy, dated within the last 3 months but outside of cancellation period
- Motor insurance certificate, valid for the current year but outside of cancellation period – we can’t accept cover notes
- Utility bill - gas, electricity or water, dated within the last 3 months
- Telephone bill, dated within the last 3 months. We can’t accept mobile phone bills
Sky or cable TV bills, dated within the last 3 months
Additional Information
Additional Information
Eligibility
We offer a great interest rate designed to support small to medium-sized UK charities, clubs and societies – anything from a local football club to a city farm.
To open a Community Deposit Account you need to:
- Be aged 18 or over
- Be classified as a UK-based club, society or charity
Have (or open) our Community Current Account or our Community Instant Access Deposit Account
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 Community Fixed Term Deposit account online or on your mobile.
Deposit terms
You can’t access your money during the term, but if you think you may need access to your money in this time, please consider the Metro Bank Community Instant Access Deposit Account.
Interest and funds on maturity will be paid into your nominated Metro Bank 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 Community Fixed Term Deposit Account
Download our PDF to read when you like - it contains all the ins and outs of our Community Fixed Term Deposit Account.
Community Fixed Term Account Details (PDF) (622KB)
Community Accounts - Deposit Interest Rate Summary (PDF) (198KB)
Our Service Relationship with Business Customers (PDF)(1.1MB)
FAQs
Can I close my account early?
No – we can only offer you such a high interest rate because you agree to leave your money in the account for a full year. If you think you might need to access the money during the year, you might want to consider our Community Instant Access Deposit Account.
Why do I need another Metro Bank account if I have a Community 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 Community Current Account or our Community Instant Access Deposit Account.
Can I use internet banking with my Community Fixed Term Deposit Account?
Yes - You can use internet banking to see your account details. You can’t make any transactions online from this type of account, on the date of maturity the balance and interest will automatically transfer to your nominated account.
Find out more about internet banking.
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
Check balances, see transactions and open new accounts any time - all with Business Online Banking.
Mobile
Control your money on the move. Check balances, move money and more with our handy mobile app.
In-store
A friendly face and a quick answer - and all the usual payment services too.
By phone
Talk to a real person in our UK contact centre. Click the button below to check when we're available.
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Every one of our stores is strongly rooted in the community it serves and we’re proud to work closely with local people and businesses.
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