Money Desk Deposit

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Money Desk Deposit

Receive a fixed interest rate linked to money markets

What is a Money Desk Deposit?

A Money Desk is linked to the money markets. Your funds are placed on deposit for a fixed term at a fixed rate. 


Peace of mind
We will quote you the interest rate before you invest. The rate will be fixed throughout the term so won't go up or down

Freedom to invest
Save up to €500 000 for terms less than 2 years, and up to €1m for terms of 2 years

Flexible terms
You can place your funds in a Money Desk account from as little as 1 week up to 2 years

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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
  • A range of terms are available from 1 week to 2 years
  • 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
  • The min/max balance, along with other qualifying criteria and/or terms and conditions may vary
  • Applications can be made in the branch
  • Early termination may only be possible in exceptional circumstances and will incur a loss of interest. Details of this are available here
  • Ulster Bank reserves the right to remove this product from sale at any time
  • Terms and conditions apply


All returns are subject to Deposit Interest Retention Tax (DIRT). Under current legislation, the effective DIRT rate is 33%

Important information

You will need an instant access account with us in the same name as the Money Desk Deposit.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 Money Desk Deposit, 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 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.

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