We're excited to announce that we’re upgrading the Raisin UK savings marketplace. We’ll be launching something new soon, but between Monday 12th November 2018 and Monday 19th November 2018, you won't be able to register with us or apply for any savings products. If you've already registered with us or applied for a savings product, you can still fund your savings product and claim your bonus, as well as log into your customer portal, but you won't be able to make any changes to your account.
Read our Newsroom post to find out what’s coming.
Max. €100,000or Sterling equivalent
AgriBank’s product terms and conditions can be downloaded in PDF format here.
Raisin UK’s terms and conditions can be downloaded in PDF format here.
|Savings product name||AgriBank: 5 Year Fixed Term Deposit|
|What is the interest rate?||
AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.
Interest is calculated daily, compounded annually and is payable on maturity. Interest will be paid gross without prior deduction of tax.
|Can AgriBank change the interest rate?||No, the interest rate applicable to your deposit is fixed at the time of application and will stay the same throughout the duration of the fixed term.|
|How much interest might a £10,000 deposit have earned by the date of maturity?||
The estimated interest earned upon the date of maturity on a deposit of £10,000 is £510.10. This projection is for illustrative purposes only and does not take into account individual circumstances.
|How do I purchase and manage a savings product?||
To purchase this savings product, you must apply online through Raisin UK. Raisin UK Savings products are only available through this online application process, and to be eligible to apply, you must be a UK resident who is aged 18 or over and hold a UK bank or building society account.
The minimum amount you can deposit is £10,000, and the maximum amount you can deposit is £85,000.
You can manage your savings product by communicating through Raisin UK using the secure messaging feature in your customer portal, by telephone, by email or in writing by using the contact details provided in the Terms & Conditions. Raisin UK will only provide instructions relating to your savings product through email and the Raisin UK customer portal secure messaging feature.
|Can I withdraw money?||
Because this savings product is a fixed term deposit, withdrawals are not permitted before the maturity date, except if an account holder dies, becomes mentally incapacitated or bankrupt, or in any other exceptional circumstances agreed to by AgriBank in its absolute discretion. This savings product does NOT operate on the basis that you can end the fixed term of your deposit prematurely and pay a fee to withdraw your funds sooner.
Raisin UK will contact you approximately one month before the maturity date of your deposit to advise you of your options. If we do not receive a response from you, your deposit will be returned to your nominated account.
Your deposit will not automatically renew at the end of the fixed term for a further fixed term.
The AgriBank 5 Year Fixed Term Deposit is protected by the Malta Depositor Compensation Scheme through the European Deposit Guarantee Scheme (DGS). Savings deposits with European banks are protected by the European DGS within each member state that reimburse depositors up to a defined limit if their bank fails and deposits become unavailable. The level of deposit protection across the European Union is €100,000 (or the equivalent amount in a European countr's local currency) and this amount is guaranteed irrespective of the current level of available financial means of any country-specific European DGS.
Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the protection applies only to eligible deposits up to this limit.
Transfers of funds must be received within 10 calendar days of your savings product application approval date to qualify for the interest rate you have applied for. Funds must be transferred from a UK bank or building society account in your name and by electronic bank transfer only. Any funds received after 5pm on the 10th calendar day will be returned to your nominated account.
To purchase a savings product from AgriBank, you need to provide the following information: