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Fixed term community deposit account

Community Fixed Term Deposit Account

Whether you're saving for a big fundraising event or putting  some money aside to buy new instruments for your musical society, our Community Fixed Term Deposit Account can help you reach your goals. It's a fixed rate, fixed term savings option exclusively for clubs, societies and charities.

No surprises

With a fixed interest rate of 1.05% AER you'll know exactly how much interest you’ll earn. Exclusively for clubs, societies and charity customers only.

Simple 1-year term

Put away your money for 1 year exactly, with no withdrawals. Perfect if you’re planning a big event next year, or simply want to set something aside.

Deposits from £5,000

Each account is a single deposit of £5,000 or more, with no set-up fee or monthly fee. You can open as many as you like.

What you need to know

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

Interest rateTermMinimum balanceInterest payment frequency
1.05% AER 1 year £5,000 Monthly or annually

AER stands for Annual Equivalent Rate. It shows what the interest rate would be if it was paid and compounded each year.


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:

Find out what you need to open an account 


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. 


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 Community Fixed Term Deposit Account.

Community Fixed Term Account Details (PDF) (774KB)

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

Open an account

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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

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

Flexible savings

Our Community Instant Access Deposit Account is just for charities, clubs and societies. Access your cash 24/7 in store or online. 

BANKING WITH US

Community Current Accounts

Choose a tailored account with no monthly fee, clear charges and 200 free monthly transactions. 

BANKING WITH US

Instant access holding account

Earn 0.20% AER variable interest on client funds and withdraw your cash whenever you like.

FSCS

Protecting your money

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