Fixed Term Deposits
Lock in your funds for guaranteed returns to support long-term goals such as retirement or property investments.
A fixed interest rate for longer
Loyalty rates if you reinvest at the end of the term
Start saving from £25,000
Our highest Fixed Term Deposit rate
4.81
%
£3.4 Billion
Higher rates, predictable returns
Choose a Fixed Term Deposit to lock in growth and know exactly how much you’ll accrue by the end of the term.
9 Months
4.65% AER
12 Months
4.81% AER
AER stands for Annual Equivalent Rate. This shows you what the interest rate would be if interest was paid and compounded once each year.
Know exactly how your savings will grow
A term that’s longer, but stable
The interest rate remains fixed for the entire duration of your term, providing certainty.
Unlimited deposits for the first 14 days
Top up your savings in the app as many times as you like during this period. Savings are capped at £2,000,000 across all Monument accounts.
Exclusive loyalty rates
You can access your money at the end of the term. If you choose to reinvest, you’ll get a higher rate than new clients. It’s our way of saying thank you.
Full transparency, no hidden fees
We won't charge you for opening an account or managing your savings with us, and never will.
Your money is safe with us. Eligible savings are protected up to £85,000 by the Financial Service Compensation Scheme (FSCS).
Exceptional service isn’t our aim. It’s our guarantee
Enjoy an effortless experience
Open an account in minutes then deposit funds straight away.
Monument clients love our app and rate us ”Excellent” on Trustpilot.
Always speak to a person
Unlike other banks, we never use chatbots.
Speak to our UK-based team instantly in the app or pick up the phone — we answer 90% of calls in under 20 seconds.
Be rewarded for your loyalty
If you’re a Fixed Term Account saver who chooses to stay with us, we’ll thank you with a special rate.
Start saving now
1
Download the app
Get the app from the Apple App Store or Google Play.
2
Choose the right Savings Account for you
Provide us with your personal details so we can securely open your account.
3
Add money
Set up your Linked Account and make a deposit to start earning interest immediately.
What our clients say
Frequently Asked Questions
Here are the answers to a few of the things we get asked most. Visit the FAQ page to see more.
Monument is a fully regulated, UK bank built to help you manage, grow and enjoy your wealth.
More than 40,000 clients save with Monument and benefit from our range of Lifestyle services and UK-based client servicing team.
Your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).
When you open your Fixed Term Deposit you will be given a sort code and an account number which you can use to make electronic payments into your Monument account from your Linked Account. You can also transfer money into your Fixed Term Deposit from your Monument Easy Access Savings account, if you have one.
You will have 14 days from the day you open your Fixed Term Deposit to deposit money into the account.
At the end of the fixed term, you can choose to reinvest your money into a Monument savings product or withdraw it to your Linked Account. We will email you 30 days prior to the end of your fixed term for you to make a selection. If you choose to reinvest, we offer a range of exclusive Loyalty products which have higher rates than those available for new clients.
No, the interest rate on Fixed Term Deposits is fixed for the entire duration of the fixed term.
No, you can’t withdraw your money for the duration of the fixed term period. However, you can change your mind and cancel the account within the 14-day funding period, and we will return your money to your Linked Account.
£25,000.
This balance requirement is for the combined total across all of your Monument accounts. For example, if you have an Easy Access and a Notice Account with us, you must hold a minimum of £25,000 in total across both accounts.
Summary Box
This summary contains key information about the Notice Account you have selected. Please read it carefully alongside the Fixed Term Deposit and our General Savings Terms.
Choose a Fixed Term Deposit
Account name
9 Months
9 Month Fixed Term Deposit
What is the interest rate?
4.62% gross / 4.65% AER (fixed)
Rate effective 17 October 2024
AER stands for Annual Equivalent Rate. This shows you what the interest rate would be if interest was paid and compounded once each year.
Gross is the rate of interest payable before income tax is deducted.
Interest is calculated daily and is paid on the maturity date. Interest can be paid to your Linked Account or paid to the balance at maturity.
Can Monument change the interest rate?
No, the interest rate is fixed and cannot be changed throughout the term.
What would the estimated balance be after 12 months based on a £1,000 or £25,000 deposit?
£1,034.65 at an interest rate of 4.62% gross (fixed)
£25,866.25 at an interest rate of 4.62% gross (fixed)
For the purposes of this calculation we assume that:
- You make a deposit of £1,000 or £25,000 on the account opening date
- You make no further deposits during the funding period or withdrawals during the term
- The interest is paid to the balance at maturity
The above is for illustrative purposes only and does not take into account any individual circumstances.
How do I open and manage my account?
You can open and manage your account through the Monument mobile app.
Eligibility:
- you must be aged 18 or over
- you must be a UK resident
- this account can only be opened in one person’s name
- you must have a personal UK bank account that allows transfers to be made to and from your Monument Fixed Term Deposit
Minimum and Maximum Balance:
- £25,000 minimum balance across all Monument savings accounts you hold including this one.
- £2,000,000 maximum balance across all Monument savings accounts you hold including this one.
Making Deposits:
- You will have 14 days from the account opening date to fund your account (Funding Period). You cannot make deposits after the Funding Period.
- You can make multiple deposits during the Funding Period. The fixed term will start from the date of your first deposit.
- During the Funding Period, deposits can only be made by electronic payment from your Linked Account or a Monument Easy Access Savings account in your name.
- Any funds received from another account that is not your Linked Account will be returned.
- We do not accept deposits in cash or cheque.
Can I withdraw money?
No, withdrawals and early closures are not permitted throughout the term.
We will contact you at least 30 days before the maturity date of your Fixed Term Deposit and you will be asked to select how you would like us to deal with your maturity balance.
If we do not hear from you before the maturity date, we will transfer the balance to your Easy Access Savings account if you have one, or if you do not have one, we will open a new Easy Access Savings account for you.
Additional information
You can change your mind and close a Fixed Term Deposit you have opened without incurring any penalties within 14 days following the account opening date (this coincides with the Funding Period for the account).
Please contact us and we will close the account and return any funds you have deposited (together with any accrued interest).
We do not deduct tax from any interest paid to you. You will need to pay any tax you owe to HMRC or other Tax authorities applicable to you
Please note: The information provided here is a summary of the key features of our Fixed Term Deposit account. Further information can be found in our Fixed Term Deposit Terms.
Choose a Fixed Term Deposit
Account name
12 Months
12 Month Fixed Term Deposit
What is the interest rate?
4.81% gross / AER (fixed)
Rate effective 23 September 2024
AER stands for Annual Equivalent Rate. This shows you what the interest rate would be if interest was paid and compounded once each year.
Gross is the rate of interest payable before income tax is deducted.
Interest is calculated daily and is paid on the maturity date. Interest can be paid to your Linked Account or paid to the balance at maturity.
Can Monument change the interest rate?
No, the interest rate is fixed and cannot be changed throughout the term.
What would the estimated balance be after 12 months based on a £1,000 or £25,000 deposit?
£1,048.10 at an interest rate of 4.81% AER (fixed)
£26,202.50 at an interest rate of 4.81% AER (fixed)
For the purposes of this calculation we assume that:
- You make a deposit of £1,000 or £25,000 on the account opening date
- You make no further deposits during the funding period or withdrawals during the term
- The interest is paid to the balance at maturity
The above is for illustrative purposes only and does not take into account any individual circumstances.
How do I open and manage my account?
You can open and manage your account through the Monument mobile app.
Eligibility:
- you must be aged 18 or over
- you must be a UK resident
- this account can only be opened in one person’s name
- you must have a personal UK bank account that allows transfers to be made to and from your Monument Fixed Term Deposit
Minimum and Maximum Balance:
- £25,000 minimum balance across all Monument savings accounts you hold including this one.
- £2,000,000 maximum balance across all Monument savings accounts you hold including this one.
Making Deposits:
- You will have 14 days from the account opening date to fund your account (Funding Period). You cannot make deposits after the Funding Period.
- You can make multiple deposits during the Funding Period. The fixed term will start from the date of your first deposit.
- During the Funding Period, deposits can only be made by electronic payment from your Linked Account or a Monument Easy Access Savings account in your name.
- Any funds received from another account that is not your Linked Account will be returned.
- We do not accept deposits in cash or cheque.
Can I withdraw money?
No, withdrawals and early closures are not permitted throughout the term.
We will contact you at least 30 days before the maturity date of your Fixed Term Deposit and you will be asked to select how you would like us to deal with your maturity balance.
If we do not hear from you before the maturity date, we will transfer the balance to your Easy Access Savings account if you have one, or if you do not have one, we will open a new Easy Access Savings account for you.
Additional information
You can change your mind and close a Fixed Term Deposit you have opened without incurring any penalties within 14 days following the account opening date (this coincides with the Funding Period for the account).
Please contact us and we will close the account and return any funds you have deposited (together with any accrued interest).
We do not deduct tax from any interest paid to you. You will need to pay any tax you owe to HMRC or other Tax authorities applicable to you
Please note: The information provided here is a summary of the key features of our Fixed Term Deposit account. Further information can be found in our Fixed Term Deposit Terms.
Not the right account for you?
If you’re looking for a more flexible savings account you can learn about our Easy Access Savings or Notice Accounts
