If you have savings or surplus funds of £10,000- £100,000, you could take advantage of our fixed rate deposit, apply instantly on our Royal Bank app.
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Fixed Deposit
To open a Fixed Deposit, you and your business must be UK domiciled, hold a Royal Bank sterling Instant Access Account, use the Royal Bank mobile app and have biometrics enabled. No withdrawals permitted during term. Please read the summary box below before applying.
What is a Fixed Deposit?
A Fixed Deposit lets your business set money aside for a defined period, earning a guaranteed fixed rate of interest. It's a simple way to grow your savings with certainty over what you'll receive at the end of the term.
- Interest rate: X.XX% / XX.XX% AER / Gross fixed for a 6-month term
- Interest is paid at maturity
- Deposit between £10,000 and £100,000 and know exactly how much interest you'll earn
- You can apply securely through your mobile app in just a few minutes
Quick digital set up
Get started fast, you could apply in minutes right from your Royal Bank app.
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Planned returns
You can sit back and watch your money grow. Earn a fixed rate of interest for set period of time.
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Instant visibility
View your fixed deposit alongside the rest of your business acccounts right from your Royal Bank app.
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Summary Box
Account name
Fixed Deposit
What is the interest rate?
Term | AER/Gross p.a |
6 months | 1% |
Interest rates are displayed in real time within the mobile banking app before confirming your deposit. At maturity, the fixed deposit interest and principal deposit will be transferred into your nominated instant access account.
Can RBS change the interest rate?
No, the interest rate is fixed for the term of deposit.
What would the estimated balance be after 6 months based on a range of deposits?
These are only examples, based on a 6 month term for this product. They do not take into account your individual circumstances.
| Initial deposit | Balance after 6 Months | Interest earned |
Minimum is £10,000 | £10,050 | £50 |
£50,000 | £50,250 | £250 |
£100,000 | £100,500 | £500 |
The examples assume:
- A fixed interest rate of 1.00% AER/gross p.a. (fixed).
How do I open and manage the account?
Deposits can be opened and managed on our Mobile Banking App.
Choice of Deposits:
- Minimum deposit: £10,000
- Maximum deposit: £100,000
- Available term: 6 months
You will need to maintain an RBS sterling instant access account for the duration of the term, used to fund your deposit and to receive the funds at the end of the term.
Can I withdraw money from the account?
No – You cannot withdraw funds from a Fixed Deposit during the agreed term but if, due to exceptional circumstances, RBS agrees you can end it early, Break Costs may apply and be deducted from the amount you receive back. Please see the Fixed Deposit Terms and Conditions for more information on Break Costs.
At the end of the term, the deposit amount and any accrued interest will be paid into your nominated Sterling instant access account.
Additional information
Tax
We do not deduct tax from the interest we pay to you. The tax treatment may be subject to change in the future and depends on your circumstances.