Bank Of Ireland Launches New Limited Fixed Term Deposit Account

Bank of Ireland UK has introduced a new Limited Edition Fixed Term Deposit account, providing savers with a guarantee on interest rates as they lock their funds in for a year.

Available to customers across the UK, existing and new to bank customers can save between £2,000 and £1,000,000 in a single deposit with a competitive 4.65% Gross1/AER2 interest rate.

The Limited Edition Fixed Term Deposit account improves the Bank's current selection of fixed term and easy access savings accounts. Among these is the Classic Saver account, which requires just £1 to open and is accessible to customers aged 12 and above.

Additionally, Bank of Ireland UK has raised interest rates across its range of savings accounts, further bolstering support for its customers. Confirmation of these upgraded rates will be communicated to customers in the days ahead.

George Higginson, Managing Director NI and UK Strategic Partnerships, Bank of Ireland UK said: "We want to help our customers thrive and achieve their financial ambitions which is why we provide a range of ways in which they can save with us to develop healthy savings habits and feel rewarded when they do.

"We have helped generations of customers to save for important moments in life and we’re committed to continuing to develop products and services with competitive rates to help customers reach their financial goals. We regularly review our products and services to ensure we deliver value for consumers and ensure we deliver on our purpose of enabling our customers, colleagues, society and shareholders to thrive."

Further deposits and withdrawals from the Limited Edition Fixed Term Deposit account are not permitted during the fixed term period. The interest rate is fixed for the duration of the fixed term deposit and interest is paid in one sum at the end of the term.