Flexible Client Term Deposit Account

The amount of interest you earn depends on how long you put the money away for:

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

Fees and charges

There’s no set-up fee or monthly maintenance fee for this 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 Relationship Manager.

Eligibility

This account is for Metro Bank Business Bank Account, Commercial Current Account or Client Premium Deposit Account customers who need to hold clients’ money in a bank account.

It’s typically used by solicitors and accountants, but other businesses that hold client money can benefit too.

If you want to deposit client funds for a shorter time, you may want to consider our Client Premium Deposit Account.

Closing your account early

You can close your account whenever you like, whichever term you choose.

If you close your account early, the interest rate will be adjusted to 0.50% AER from the time the account was opened.

For example, if you choose a 1 year term but close it at six months, you will be paid interest at the rate of 0.50% AER not 1.75% AER for the time the money was in the account.

Deposit terms

Interest and funds on maturity will be paid into your nominated Metro Bank account. 

Your account and tax

Since 06 April 2016, interest on deposits has been paid without tax being deducted. For more information, please contact the Business team on 0345 08 08 508.