Investments - Savings UK Ltd

Explore Fixed Deposits of Savings UK Ltd with high AER.

A guaranteed return on your Fixed deposit

If you don’t need access to your money for at least 6 months, you can earn a guaranteed rate of interest by securing it away for the fixed period.

  • Competitive 3% – 6.5% AER
  • Minimum balance of £50
  • Maximum balance of £1,000,000
  • Use a nominated current account for payments.
  • Top-up your account in the first 14 days of account opening.
  • No withdrawals are allowed during the period.
  • Cancel in the first two weeks if it is not right for you.
  • Reinvestment and withdrawal options at maturity
  • Apply online now in around 5 minutes.

Frequently asked questions.

Summary box

Account type

 Fixed deposit

What is the interest rate?

  • Where the balance on the account is £50 or more, the interest will be 3% – 6.5% Gross/AER fixed.
  • AER stands for annual equivalent rate, and shows what the interest rate would be if interest was paid and compounded each year.
  • Interest is calculated daily and paid into your account either monthly or annually, depending on the option on your account.

Can Savings UK Ltd change the interest rate?

  • No, the interest rate is fixed for the duration of the term.

What would the estimated balance be after 12 months based on a £50,000 deposit?

  • Based on the interest rate of 5%, an account with a £50,000 deposit will have a balance of £52,500 after a year.
  • This projection is for illustrative purposes only and does not take into account individual circumstances.
  • This projection is based on receiving £50,000 deposit on the first day of the due invoice, which remains invested for 12 months.

How do I open and manage my account?

  • Fixed deposits are available to individuals and businesses (i.e. limited companies, partnerships, LLPs and sole traders), charities, associations, clubs, societies and parish/local councils.
  • You can apply for an account online by making a first payment of at least £50. The account will start operating and earning interest on the working day we receive funds.
  • The product is strictly limited and can be withdrawn at any time.
  • Once we have confirmed with you that your account has been opened, you will have a maximum funding period of 14 days to fund your account.
  • Within the funding period, you may fund your account from your nominated account either electronically or by bank transfer, up to a maximum of £1,000,000 deposit. If your account exceeds the maximum limit, the funds will be returned to your nominated account.
  • Each customer can hold a maximum of £5 million across all savings accounts held with Savings UK Ltd.
  • Once the funding period has ended or if the account is no longer available, you will be unable to make further deposits.
  • You can appoint up to 4 authorised users.
  • All payments need to be made into and from your nominated account.
  • You can manage your account using your secure login details, which are unique to you.

Can I withdraw money?

  • You cannot make withdrawals or close the account before the end of the term of the savings account.
  • You should contact us at least 21 days before the maturity date, outlining your options on maturity and whether you would like to:
  • *Transfer your money in full from the fixed rate savings account into your nominated account.
  • *Re-invest your money in full into a new savings account with us (subject to availability at the time).
  • *Transfer your money in full to another savings account with us.
  • If we do not receive instructions from you at least two Working Days before the maturity date of your Business Savings Account, we will transfer your existing Savings account proceeds (including the initial deposit and interest) into your main account balance.
  • In order to transfer your proceeds from your account or withdraw funds to your bank account, please contact us.

Forced account cancellation by client:

  • The client must contact us to cancel the Fixed deposit.
  • 2.5% AER would be paid instead of account specific AER.
  • The Fixed deposit will be cancelled in 3 days normally.

Additional information

  • Statements are available on request.
  • All interest on UK savings accounts will be paid without the deduction of tax.
  • You have the option to change your mind within 14 days of the account opening. Let us know within this period and we will cancel your account without penalty or notice.
  • Withdrawals cannot be made until the end of the term.
  • Your financial position must allow you to cover any cash flow during the fixed term period.
  • Our Fixed accounts have a maximum funding limit and, once reached, the account will become unavailable for new customers.

Funds protected - Savings UK Ltd

Your savings are protected

Your eligible deposits with Savings UK Ltd are protected up to a total of £85,000 by our Funds insurance, the deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

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