Investments - Savings UK Ltd

Explore Freedom Deposit Account of Savings UK Ltd

A guaranteed return on your Freedom deposit

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

  • Competitive 2.5% AER
  • Minimum balance of £100
  • Maximum balance of £1,000,000
  • Use a nominated current account for payments.
  • Top-up your account anytime.
  • Withdrawals are allowed.
  • Cancel your account anytime, if it is not right for you.
  • Reinvestment and withdrawal options are available
  • Apply online now in around 5 minutes.

Frequently asked questions.

Summary box

Account type

 Freedom deposit

What is the interest rate?

  • Where the balance on the account is £100 or more, the interest will be 2.5% 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 £100,000 deposit?

  • Based on the interest rate of 2.5%, an account with a £100,000 deposit will have a balance of £102,500 after a year.
  • This projection is for illustrative purposes only and does not take into account individual circumstances.
  • This projection is based on receiving £100,000 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 £100. 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  • The product is strictly limited and can be withdrawn at any time.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 can fund it at anytime.
  • 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 can make withdrawals and can close the account any time.
  • You can contact us anytime, outlining your options, 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.
  • 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 Freedom deposit.
  • 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 anytime after the account opening. Let us know within this period and we will cancel your account without penalty or notice.
  • Withdrawals can be made anytime.
  • 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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