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 expected interest rate would be if interest was realised and paid once each year.
Interest is calculated daily and payable on maturity. Interest is due to 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 £1,176.78. 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 a savings product, you must apply online through Raisin UK in advance of the product application deadline. Applications received after the product application deadline will not be accepted. 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.
We 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 country'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 €100,000 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 12 pm on the 10 calendar days working day will be returned to your nominated account.
To purchase a savings product from AgriBank, you need to provide the following information: