Upgrade and improvements in progress

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.

Selected product

1 Year Fixed Term Deposit
1 Year Fixed Term Deposit
1.90% AER

Deposit Protection

Max. £85,000

up to £80 bonus
To thank you for saving through Raisin UK, you can claim a bonus when you fund your new savings product through our marketplace (minimum amounts apply).

Any questions? Our Customer Support Team is here to help!

Product Summary

Key product information for B&C 1 Year Fixed Term Deposit

B&C’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.

Your deposit will be processed by Meteor Asset Management Limited, whose terms and conditions can be downloaded in PDF format here.

Savings product name B&C: 1 Year Fixed Term Deposit
What is the interest rate?

1.90% AER

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 B&C 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 £190.00. 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 £1,000, 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 B&C 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 Raisin UK do not receive a response from you, your deposit will be held in your Meteor Asset Management account at the end of the fixed term until you decide what you would like to do with the proceeds.

Your deposit will not automatically renew at the end of the fixed term for a further fixed term.

Deposit Guarantee

Your deposits with B&C – are eligible for protection by the Financial Services Compensation Scheme (FSCS). The FSCS is a UK Government-backed protection scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your savings account deposit up to the £85,000 per person, per banking group limit.

Your deposit will be administered by Meteor Asset Management Limited (MAM) and Meteor Investment Management Limited (MIM) who will process your application and cash respectively. Cash and deposits will be held by MIM and MAM in trust for you under FCA client money and asset rules.

In the event that MIM or MAM cannot meet their obligations you will remain the beneficial owner of any deposits purchased for you, and also cash held on your behalf in MIM’s client account. In both cases these will remain covered under the FSCS protection for the deposit taker or the banks holding client money to £85,000. For more details please see our Meteor Asset Management Terms and Conditions.

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 £85,000 protection applies only to eligible deposits up to this limit.

Additional information

Transfers of funds must be received within 5 business 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 5th business day will be returned to your nominated account.

Typically, if you fund this savings product with one lump sum, your funds will be remitted to B&C by MIM via BACS no later than the first business day after you have transferred the amount that you pledge to fund this savings product. If you need to make multiple transfers to reach the amount that you pledged, your funds will be remitted by MIM no later than the first business day after the final transfer.

Your Deposit Term will start when the BACS payment is received by B&C. This will normally be two business days after MIM has remitted your funds to B&C.

Information Required

To purchase a savings product from B&C, you need to provide the following information:

  • A valid email address which Raisin UK can use to send you confirmation of your application;
  • Your personal details including your name, date of birth and National Insurance number;
  • Your address and postcode;
  • A UK mobile telephone number; and
  • The details of a UK bank or building society account from which you will fund your application.