Money Desk Deposit - Overview
Place your funds in the money market for a fixed term at a fixed rate.
Money Desk Deposit-All Terms
- Place your funds in the money market for a fixed term at a fixed rate.
- Money market rates - interest rates that we will quote you before you place your funds. Please contact your local Ulster Bank branch for Money Desk Deposit interest rates.
- Fixed Interest Rates - giving you peace of mind knowing that your interest rate will not change during the term.
- Flexible terms - we offer a wide range of fixed-term options from 1 week to 2 years.
- No maximum balance - there are no upper limits on how much you can hold on deposit. Minimum balance is €15,000.
- Monthly Interest option - for fixed term deposits of greater than 1 year, you have the option of having your interest being paid monthly.
- No withdrawals or additional lodgements are allowed during the term
All returns are subject to Deposit Interest Retention Tax (DIRT). Under current legislation, the effective DIRT rate is 25%.
Anyone over 18 can open a Money Desk Deposit. For administration purposes, an Instant Access Account (i.e. an Account that does not require notice of withdrawal) is required with Ulster Bank in the same name as the Deposit, if you do not hold one already. An Instant Access Account can be an Ulster Bank Easy Access Account or an Ulster Bank Current Account. The Instant Access Account will be used for the processing of funds placed on and maturing from your Deposit, together with interest due.