Lock your savings away and watch them grow!
We love to reward our members whenever possible. This is why we’ve launched a product to reward our loyal savers. After all, without loyal savers we wouldn’t be able to help other members with affordable loans!
Do you have savings with us that you want to lock away to earn an attractive rate of interest? If so, our Fixed Term Deposit Account could be for you. You can deposit up to £5,000 of your existing Credit Union savings, for a set period of two years. The account has a fixed rate of interest of 2.25% AER, allowing you to easily compare and work out exactly how much interest your savings would earn.
You can transfer money from any of your Credit Union accounts including: Member Account, Reserve Account, ISA and Notice Plus Account (with no penalty). Your savings will remain in this account from 1st December 2018 until 1st December 2020, when your savings and your earned interest, will be placed into your Member Account. All funds are transferred into your Member Account on maturity, irrespective of where they came from. If you wish to move money from your ISA or Notice Plus Account, please be aware that you will not be able to place funds back into these accounts after maturity. This account cannot be closed prior to the maturity date (1st December 2020).
By continually reviewing our product offerings to keep borrowers and savers happy, we can continue to help more and more people each year. It’s simple – the more savings we have, the more loans we can give and therefore the more profit to share with our savers!
Interested in reading more about our Fixed Term Deposit Account? Click here for more information and to apply.