Choose a fixed term to get secure rewards on your money. 

If you have a lump sum to save and you know that you can put it away for a fixed term of 6, 12 or 24 months, then you can benefit from the security of an attractive fixed rate of interest.

 

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    Features and Benefits

    • Earn a competitive fixed rate of interest for your money
    • 6 months, 12 months or 24 months terms available
    • No operating costs*

     

    *Support Fees may apply, for example, Unpaid Cheque Fee (where a cheque is lodged and subsequently unpaid).

     

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    How it works

     

    • Existing and new customers* (over 18) can apply to open a Fixed Rate Saver Account.
    • To open a Fixed Rate Saver Account, you need to have a payment account with Allied Irish Bank (GB) e.g. either a Demand Deposit or Personal Current Account.
    • You can open your account with a single lodgement** of minimum £5,000 paid:

    - by transfer from another account held by you in Allied Irish Bank (GB)

    - by cheque or draft in the branch

    - by electronic transfer from another financial institution.

    • The maximum balance on the account is £200,000.
    • You can open a maximum of 4 accounts in sole and / or joint names.
    • You can’t withdraw money from your Fixed Rate Saver Account until the Maturity date.
    • You can make an additional single lodgement to the account during the 5 business days before Maturity (if you decide to reinvest) provided the balance doesn’t exceed £200,000.
    • A fixed rate of interest*** is calculated daily and is paid to the account at the end of the term (interest can’t be paid monthly with the Fixed Rate Saver Account).

    *If you are a new customer, you will need to provide suitable identification.

    **You have two business days (including the date of account opening) to make a single lodgement to the account, or the account will be closed.

    ***You can get details of the interest rate that will apply to your account here, or by contacting your nearest branch.

     

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    What happens on Maturity (at the end of the term)?

    At the end of your term of either 6, 12 or 24 months (the Maturity date), your Fixed Rate Saver Account will mature. When you are opening your account, or at any stage during the term, you can give us a Maturity instruction stating what you would like to do with your money at the end of the term. You can also change your maturity instruction using our Online Banking Service.

     

     

     

     

     

     

     

     

    You can choose from three options:

     

     

    1. You can reinvest all of your funds for the same term again or for a different term. The applicable interest rate for the term you choose will be applied to your account on the day your account reinvests

    2. You can withdraw some of your funds and reinvest the balance. You can choose to withdraw the interest you have earned during the term and/or you can choose to withdraw a specified amount, as long as you ensure that the minimum balance of £5,000 is maintained for reinvestment. The applicable interest rate for the term you choose will be applied to your account on the day your account reinvests

    3. You can withdraw all of your funds and close your account.

     

    You can change your Maturity instruction at any time during the term, by contacting your branch up until close of business on the business day before your Maturity date.

     

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    Important Information

    If you do not give us a Maturity instruction before your account’s Maturity date, your funds will be automatically reinvested for the same term (or a shorter term if the original term is no longer available) at the applicable interest rate for that term on the day of reinvestment.

    If you are unhappy with this, you can cancel your account by contacting your branch in writing within 14 calendar days following reinvestment.

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    Tax on interest earned on Fixed Rate Saver Accounts

     
    • From the 6 April 2016 credit interest on all accounts will be paid gross (under new legislation tax will not be deducted when credit interest is paid). If your credit interest is more than your Personal Savings Allowance you may still have tax to pay. Please see www.gov.uk for information on the Personal Savings Allowance or speak to a tax advisor.
    • Any reference to tax is based on our understanding of current legislation and HM Revenue & Customs practice. The law relating to taxation is always liable to change. 
    • Allied Irish Bank (GB) is covered by the Financial Ombudsman Service. Leaflets are available from any branch of Allied Irish Bank (GB).
    • If you would like to discuss alternatives to the Fixed Rate Saver, please contact your nearest branch or relationship manager.
     

     

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Fixed Rate Saver Account Summary Box

 

 

This summary box sets out important information that applies to our Fixed Rate Saver account. You should carefully read this document along with the Fixed Rate Saver Terms and Conditions to allow you make an informed decision as to whether this product is right for you.

 

 

 

 

 If you require this summary box in PDF format, please download here

 

Talk to Us

If you are an existing customer, you can speak directly with your Relationship Team, or call us on (0)345 600 5204.

 

† Lines open: 9am to 5pm Monday - Friday (except on bank holidays). Calls may be recorded. Call charges may vary - refer to your service provider.

 

 

Help and Guidance

Frequently Asked Questions

 

Interest Rates

 

HMRC (HM Revenue & Customs)

HMRC is responsible for the collection of taxes and duties in the UK.

 

Income Tax on Interest

From the 6 April 2016 credit interest on all accounts will be paid gross (under new legislation tax will not be deducted when credit interest is paid). If your credit interest is more than your Personal Savings Allowance you may still have tax to pay. Please see www.gov.uk for information on the Personal Savings Allowance or speak to a tax advisor.

 

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