Business Fixed Term Deposit

UBL UK offers Fixed Term Deposit Accounts in GBP and USD denominations. Details of the interest rates, minimum and maximum deposit amounts and term lengths can be found below:

Rates correct as at 23.02.2024

For deposits larger than the Maximum Deposit amount, please contact a member of the Customer Services Team on +44 (0) 121 753 6000 Monday to Friday from 9:15 am to 5:15 pm.

1. You can choose to have your interest paid monthly (for 1, 2, 3, 4, 5, and 7-year FTD), annually (for 2, 3, 4, 5, and 7-year FTD), or on the maturity of the deposit for all Accounts.
2. Interest is paid away for all frequencies and is not compounded. Please refer to the Interest Rate Sheet for Gross Rates on different interest payment options.
3. Interest is calculated daily and credited monthly, annually, or at maturity of the deposit, depending on your selection.
4. The interest rate frequency cannot be amended once the selection has been confirmed.
5. Interest will be paid out to the Account you nominate at the time of account opening. This Account must be a UK bank account in your name.
6. Should you wish to change the nominated Account during the Fixed Term Deposit, you will need to provide UBL UK with written instructions that are signed and dated by all Account holders.

IMPORTANT NOTICE: UBL UK does not compound interest, and interest is not added to your principal amount on any selected interest payment frequency. If you have selected interest payment at maturity, at the end of your term, you will have the choice to reinvest your principal and any accrued interest into a new term or have the interest paid into your nominated account.

No.

This Account has a fixed rate of interest for the term you select, and the rate will not change during this fixed period.

Eligibility:

You must;

• Individual applicants should be aged 18 or over
• The business should be Sole Proprietors, Partnerships, Trusts or Private Limited Companies

Minimum/Maximum Balance:

• The minimum balance is £2,000 for GBP-denominated accounts and $25,000 for USD-denominated accounts
• The maximum balance is £1,000,000 for GBP-denominated accounts and $1,000,000 for USD-denominated accounts

How to open the Account:

To apply for the account, you will need to Download the Application Form, complete and then return it along with verified copies of the documents mentioned in the application form:

• Via post: FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ
• In branch: Visit our branch

You can contact our Customer Services Team on 0121 753 6000 Monday to Friday between 9:15 am and 5:15 pm for more information.

Please make sure that you read the Business Banking Terms and Conditions before you apply for this Account.

More information about ID and Verification can be found here.

Business Banking Terms and Conditions

How we protect your deposits

Interest Rate Sheet

Business Banking Schedule of Charges

Managing your Account

• Online: You may register for New Internet Banking at businessbanking.ubluk.com or download our new Mobile App by searching for 'UBL UK Business Banking' in your app store. 
• Secure Message: when registered for internet and mobile banking, you can send secure messages directly to our team to maintain your account and give UBL UK instructions.
• In branch: Visit our London Branch, Monday to Friday between 9:30 am and 4 pm
• In writing: By post, sending instructions to FREEPOST: RUEE-STYR-XYKE, UBL UK, 2 Brook Street, London W1S 1BQ (all written instructions must be countersigned and dated by all named Account holders)
• Telephone: You can contact our Customer Services Team Monday to Friday from 9:15 am to 5:15 pm for support

Withdrawals are not permitted before the maturity date.

The Account can be opened by Sole Proprietors, Limited Liability Partnerships, Trusts and Limited Companies.

There is a 14-day cooling-off period for all Fixed Term Deposits. If you decide to cancel within the 14 days, we will not deduct Early Withdrawal Charges, but you will not be entitled to any accrued interest for the days the deposit has been with us.