Lock your money away for 12 months and earn a fixed return. You won’t be able to withdraw your money during this period, so only apply if you won’t need access to it before the term ends.
Key details:
- Term: 12 months (1st August 2026 – 31st July 2027)
- Rate: 4.05% AER (paid at the end)
- Deposit: £500 – £40,000
- Access: No withdrawals during the term
- Payment: One lump sum only
This account could be right for you if you:
- Have a lump sum you don’t need access to for 12 months
- Want a guaranteed return
- Have separate emergency savings
If may not be right for you if you:
- May need access to your money
- Prefer to add to your savings regularly
How to pay in your money
You must have your full deposit in your Member or Family Member Account by 27th July 2026. If your money is currently held outside the Credit Union, we will let you know how to transfer this to us when we receive your application. If we don’t receive your funds by 27th July 2026, we won’t be able to open your account.
Key Product Information
Download the August 2026 Fixed Term Deposit Terms & Conditions (PDF)
| Account name | Fixed Term Deposit |
| What is the interest rate and terms of this account? | The interest rate on this account is 4.05% AER. AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and compounded once each year.
Interest will be paid when the account matures. Your original deposit and earned interest will then be transferred into your Member or Family Account. If the maturity date falls on a non working day, the transfer will be made on the next working day. |
| Can No1 CopperPot change the interest rate? | The interest rate on the Fixed Term Deposit Account is fixed and will not change for the term of the account, which is 12 months.
The rate applies from 1st August 2026 to 31st July 2027. |
| What would the estimated balance be after 12 months based on £10,000 deposit? | If you deposited £10,000 into a Fixed Term Deposit beginning on 1st August 2026, on 31st July 2027 you would have a total balance of £10,405 transferred to your Member or Family Member Account. This would be made up of your £10,000 deposit and £405 of earned interest. |
| How do I open and manage my account? | You must complete an application form and have the funds cleared in your Member or Family Member Account before the account opens on 1st August 2026. |
| Can I withdraw money? | You cannot make withdrawals from this account. The funds cannot be accessed for the 12 month term. |
| Cancellation period | You have 14 days from the date your account is opened, 1st August 2026, to cancel it. This is your cooling off period. If you cancel during this period, your deposit will be returned to your Member or Family Member Account. After the cooling off period ends, the account cannot be closed early and withdrawals are not allowed during the fixed term.
Phone: 0161 741 3160 Address: Slater House, Oakfield Road, Cheadle Royal Business Park, Cheadle, Stockport, SK8 3GX Email: info@no1copperpot.com |
| Closure | After the 14 day cooling off period, there is no early closure on this account. It cannot be closed during the 12 month fixed term.
If a member dies during the fixed term, the account will be closed and interest accrued up to the date of closure will be paid. Where applicable, the Credit Union will explain any payable Life Protection benefit and the next steps, subject to the relevant terms and conditions. You must remain a Credit Union member until the Fixed Term Deposit matures. If your membership ends before maturity, interest will not be paid. |
| Additional information | As you cannot close the account or leave the Credit Union during the fixed term, please make sure you have enough emergency funds available elsewhere before applying.
Interest is paid gross, which means tax is not deducted before it is paid to you. Savings interest is not tax free and may need to be declared to HMRC, depending on your personal circumstances. The Personal Savings Allowance means basic rate taxpayers can usually earn up to £1,000 of savings interest each tax year without paying tax on it. Higher rate taxpayers can usually earn up to £500. Additional rate taxpayers do not receive a Personal Savings Allowance. For more information, please visit https://www.gov.uk/apply-tax-free-interest-on-savings. |
| Gross rate means the contractual rate of interest payable before any tax that may be due. | |
Cheadle Royal Business Park,
Cheshire, SK8 3GX
