1 Year Fixed Rate Business Deposit (Issue 3)
4.40% AER*
Fixed interest rate
Minimum balance £20,000
Maximum balance £250,000
*AER is the Annual Equivalent Rate and it illustrates what the current interest rate would be if interest was paid and compounded each year.
Key product information
What is the interest rate?
Interest is calculated daily and paid gross in full on the maturity date of your account.
We will not deduct tax automatically from the interest we pay on money in your account. It is your responsibility to pay any tax you may owe to HM Revenue & Customs (HMRC). Please refer to HMRC website for further details.
1 Gross is the interest rate without the deduction of income tax.
2 AER is the Annual Equivalent Rate and it illustrates what the interest rate would be if interest was paid and compounded once a year.
Can DF Capital change the interest rate?
No. Our Business Fixed Rate Deposit accounts have a fixed interest rate and will not change for the term of the product. We guarantee to pay the interest rates shown provided a deposit is paid into the account within 14 calendar days of the account being opened.
What would the estimated balance be after 12 months based on a £20,000 deposit?
These are for illustration only and do not take into account your individual circumstances.
The examples assume that funds are cleared in your account on the day your account is opened and no further deposits or withdrawals are made.
| Product | Deposit at Account Opening | Balance after 12 Months |
|---|---|---|
| 1 Year Fixed Rate Business Deposit (Issue 3) | £20,000.00 | £20,880.00 |
How do I open and manage my account?
Accounts can be opened online at www.dfcapital.bank
These accounts are only open to businesses based and operating in the UK (excluding Channel Islands, Isle of Man & Republic of Ireland) who have a trading history for a minimum of two years
To apply you must be a director of the business, confirm that you and any directors/beneficial owners are residents in the UK and liable to pay tax only in the UK, and are not US citizens.
Customers must fund the accounts within the 14 days of account opening. During this period, you can make as many deposits as needed.
You will need the account number and sort code of your UK business current account. This nominated account must be used as the source of any money deposited with us and will also be used as the destination account of any funds withdrawn.
To make an application you must be authorised to transact on behalf of the business. You will be the primary account holder, however, all directors will have access to manage the account online.
The minimum balance is £20,000 and the maximum is £250,000. The maximum deposit balance that your business can hold with us across all savings accounts is £250,000. The minimum deposit amount is £20,000.
Once open, you can manage your account online. You can also call us on 0330 094 0162 or send us an email at [email protected]. Our opening hours are Monday to Friday 9:00am to 5:30pm, excluding Bank Holidays.
You can only make deposits into your Fixed Rate Deposit within the first 14 calendar days after the account is opened. There is no limit to the number of deposits you can make into your Fixed Rate Deposit during that time.
Can I withdraw money?
No. These accounts are fixed terms and no withdrawals or additional deposits are allowed during the term.
We will contact you approximately 1 month before the maturity date to advise you of your options and asking for your maturity instructions. You will also receive a reminder from us approximately 14 calendar days before maturity.
If you ask us to reinvest your funds into a new account with us, we will do this on the maturity date when you will start to earn interest on that new account.
If you ask us to withdraw some or all of your funds we will do this by electronic payment to your nominated account on the maturity date.
If we do not receive your maturity instruction at least one working day prior to the maturity date, the funds will be automatically transferred to a new variable rate Business Easy Access Account that we will open for you and we will email you the account details on the day of the account opening.
Additional information
If you change your mind within 14 days of opening your account we will close your account without any penalty or notice.
Please note that we may withdraw the availability of these products at any time without notice.
Your eligible deposits with DF Capital are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This limit applies to the total deposits held with DF Capital. Any deposits you hold above the limit are unlikely to be covered. For more information and to check eligibility please visit the FSCS website (www.fscs.org.uk).
The account Terms and Conditions contain important information regarding this account. This document can be found on the Key Documents tab above.
No documents available for this category at this time.