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Business fixed term deposit account

Business Fixed Term Deposit Account

Whatever you're saving for, you can start a nest egg for your company with our Business Fixed Term Deposit Account.  Decide how long you want to lock your money away for and with our fixed interest rate you'll know exactly what you'll earn.

Peace of mind

Know exactly what you’ll earn with a fixed interest rate that won’t change of between 0.25% and 1.25% AER depending on the term. 

Build your deposit

Start saving from £5,000 and watch your money grow.

Your savings, your choice

Choose how long you want to put your money away for – 1 month, 3 months, 6 months, 1 year or 2 years.

What you need to know

We’re up front with our customers about everything. We’ve created this handy summary of our Business Fixed Term Deposit Account key features so you can see the important information from the get-go.

Interest ratesMinimum balanceInterest payment frequency
0.25% - 1.25% AER £5,000  Monthly, annually or on maturity
depending on term

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 0.25% 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

AER stands for annual equivalent rate.  It shows what interest would be if it was paid and compounded each year.


Eligibility

You can open this account if you’re a UK-based business customer. 

Find out what you need to open an account


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. 


Opening an account

Open in store – we’re open 7 days a week, including after work and at weekends.

Call the Business Team on 0345 08 08 508 or simply talk to your Local Business Manager.


Your account and tax

All interest on UK savings accounts will be paid without tax being deducted. For more information, please ask contact the Business Team on 0345 08 08 508.


Get all the details to read at your leisure

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)

Open an account

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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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BORROWING FROM US

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Get help when you need it most, with a fixed rate for arranged overdrafts of less than £25,000 and no hidden fees.

FSCS

Protecting your money

Your eligible deposits with Metro Bank are protected by the FSCS.