12 Month Term Deposit

A guaranteed rate.
A fixed term.
No surprises.

Lock away a lump sum for 12 months and earn 3.75% AER/gross (fixed). You know exactly what you will earn before the term even starts.

FSCS protected up to £120,000
Fixed rate. No variability.

Current rate

3.75%

AER/gross (fixed) · 12 months

Month 1Month 12

£5,000

Minimum deposit

£500,000

Maximum deposit

12 months

Fixed term

At maturity

Interest paid

Why a Term Deposit

The certainty that instant access accounts cannot offer

Guaranteed 3.75% AER (fixed)

Your rate is locked in from day one. Whatever happens to interest rates during your term, your rate stays exactly as agreed.

FSCS protected up to £120,000

Your savings are covered by the Financial Services Compensation Scheme. Complete protection and complete peace of mind.

Know your return upfront

You know exactly how much interest you will earn before you deposit a single penny. No estimates, no variability.

Member-owned, not profit-driven

Capital Credit Union is owned by its members. Our job is to give you the best possible rates, not to generate returns for shareholders.

What is it?

A savings account where the rate never moves

A Term Deposit is a fixed-rate savings account where you deposit a lump sum and agree to leave it untouched for a set period. In return, you receive a guaranteed interest rate for the full duration.

Unlike variable rate accounts, the rate on your Term Deposit is agreed on day one and cannot change. At the end of 12 months, your original deposit plus all interest is returned directly to your Share 1 account.

Lump sum deposit only. No regular payments or direct debits.
Interest is paid in full at the end of the 12-month term, not monthly.
Your deposit must be made within 10 days of opening the account.
At maturity, funds move automatically to your instant access Share 1 account.

Illustrative example

See what 3.75% earns you over 12 months

You deposit

£10,000

Interest rate

3.75% AER/gross (fixed)

Term

12 months

Interest earned

+£375

Your balance after 12 months

£10,375

For illustration only. Based on a deposit of £10,000 at 3.75% AER/gross (fixed) for 12 months. Interest is paid at maturity. AER stands for Annual Equivalent Rate. Gross rate is the rate before any tax deduction. Savings are FSCS protected up to £120,000.

Getting started

Open your Term Deposit in four steps

Step one

Become a member

Join Capital Credit Union online in minutes. Free to join. You will also need at least £1 in a Share 1 account.

Step two

Complete the online form

Open your Term Deposit using our simple DocuSign form. Takes around five minutes. No branch visit needed.

Step three

Transfer your lump sum

Transfer between £5,000 and £500,000 within 10 days of opening. One lump sum only, no regular payments.

Step four

Earn and collect at maturity

Your savings earn 3.75% AER/gross (fixed) for 12 months. At maturity, your deposit and interest move to your Share 1 account.

Limited availability: This Term Deposit product has limited availability and can be withdrawn at any time. This does not affect any existing Term Deposits, which will continue for their full duration. The right to cancel does not apply to fixed rate, fixed term products.

Who can apply

Check you are eligible before you apply

The Term Deposit is available to Capital Credit Union members who are comfortable setting their savings aside for the full 12-month term.

CCU Member

You must be a Capital Credit Union member to open this account

Aged 16 or over

You must be at least 16 years old at the time of opening

UK resident

You must be resident in the United Kingdom

£5,000 minimum

A lump sum of at least £5,000 must be deposited within 10 days

Before you open your account

No withdrawals during the term

Withdrawals are not permitted. Early closure is only possible under exceptional circumstances and if it occurs, no interest is paid and only your original deposit is returned.

No right to cancel

The right to cancel does not apply to fixed rate, fixed term products. Please be certain before opening that you can commit your funds for the full 12 months.

Lump sum deposits only

This account does not accept regular payroll deductions or Direct Debit payments. One lump sum transfer within 10 days of opening is required.

Cancelling membership closes the account

If you cancel your Capital Credit Union membership during the term, your Term Deposit will be closed as part of that process with no interest payable.

Membership eligibility criteria apply.

Read the full Terms and Conditions →

Got questions

Frequently asked questions

No. The Term Deposit accepts a single lump sum deposit only. Once your account is funded, no further deposits can be added and you cannot set up regular payroll deductions or Direct Debit payments.

Withdrawals are not permitted from a fixed term account. In exceptional circumstances, early closure may be considered, but if it occurs you will receive no interest and only your original deposit back. Please be certain you can commit for the full term before opening.

Interest is paid in full at the end of the 12-month fixed term. It is not paid monthly. At maturity, your original deposit and all interest earned is automatically transferred into your instant access Share 1 account.

Yes. Your savings at Capital Credit Union are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per member. Read more about FSCS protection.

You have 10 days from the date of opening to transfer your lump sum. The account must hold at least £5,000 to become active. The maximum deposit is £500,000.

Yes. The Term Deposit is available to Capital Credit Union members only. If you are not yet a member, you can join online first. You will also need at least £1 in a Share 1 account. Membership eligibility criteria apply.

At the end of the fixed term, your original deposit and all interest earned are automatically moved into your Share 1 account. You will have immediate full access to those funds. At that point you may choose to open a new Term Deposit if one is available.

Still have questions? Our team is happy to help.