Fixed Term Deposit


Important Notice about Closure to New Business:

With effect from close of business 29 October 2021, Ulster Bank Ireland DAC will not accept any new application requests from personal customers. There are some exceptions to this for existing customers, click here for further information. 


Couple reviewing finances at home

Fixed Term Deposit account

Lock your money away for a set timeframe and we'll guarantee the interest rate for the full term

What is a Fixed Term Deposit account?

With a Fixed Term Deposit account, your funds are placed on deposit for a fixed period of time and for a fixed rate of interest. You are unable to lodge additional funds or make a withdrawal throughout the term. A Fixed Term Deposit offers you:



Save over a fixed term, with a guaranteed rate. This means you know in advance how much interest your deposit will earn

Choice of term

Choose a term that suits, from 6 - 36 months

Deposit interest rates & the need to knows

  • Available to both new and existing customers 
  • You need to be 18 or over and resident in the Republic of Ireland to apply
  • Interest rates are fixed - with interest paid at the end of the agreed term
  • Gross interest is calculated on a 360 day basis
  • No lodgements or withdrawals throughout the term
  • Minimum balance is €15,000
  • Maximum balance is €500,000 for terms less than 2 years and €1m for terms of 2 years or more
  • Applications can be made online or in the branch Online applications are available to existing Anytime Banking customers in sole name. You must hold an instant access account is the same name as the Fixed Term Deposit.
  • At the end of the 6 and 12 month terms withdrawal instructions must be provided otherwise your deposit will be automatically renewed for the same term at the prevailing rate
  • Ulster Bank reserves the right to remove this product from sale at any time
  • You may be able to get access to your money before the end of the agreed term in exceptional circumstances, this may incur a loss of interest.  Details of this are available here
  • Tax on interest earned - All returns are subject to Deposit Interest Retention Tax (DIRT). Under current legislation, the effective DIRT rate is 33%
  • Terms and conditions apply
  • Find out more
Term   Gross /AER 
6 months 0.05% Gross  / 0.10% AER 
12 months 0.20% Gross / 0.20% AER 
24 months 0.50% Gross / 0.25% AER 
36 months 0.90% Gross  / 0.30% AER 
  • Gross is the interest paid before tax is deducted
  • AER - Annual Equivalent Rate illustrates what the rate would be if paid and compounded each year 

Important information

You will need an instant access account with us in the same name as the Fixed Term Deposit account. The instant access account will be used for processing funds placed on and maturing from your deposit account, together with interest due to you. If you already operate an instant access account (i.e. an account that does not require notice of withdrawal), with us in the same name as the Fixed Term Deposit account, you can use this.

You will not incur any additional charges for using your instant access account as a feeder account; existing charges may still be applied as set out in A guide to personal accounts fees and interest. If you do not operate an account with us in the same name as the deposit account, you are required to open an alternative account, called a Service Account.

You are not required to use the Service Account for purposes other than processing your Fixed Term Deposit account. There are no charges on a Service Account. If at the end of the fixed term you wish to withdraw funds from the Service Account, you will be required to visit your local branch. The terms and conditions of the Service Account are outlined in Personal banking terms and conditions.



Add your signposting title here… Common Questions
Set Tab for lightbox