Flexibility in cash withdrawals
Flexi-Fix Deposit Account
Your ability to choose
Ability to choose between 6 or 12 month terms.
Withdrawal with no charge
Ability to make two withdrawals (for 12-month fixed term deposits) or one withdrawal (for 6-month fixed term deposits), free of charge.
Yes, You may deposit up to a maximum of €500,000
Each withdrawal must be less than 10% of the original deposit amount.
Lean more on your account’s interest rate here.
1. What is a fixed-term deposit?
A fixed-term deposit account is an account in which you place your money for an agreed period of time, during which time you can neither deposit additional money into your account nor withdraw from it. The interest rate is fixed for the entire the duration of the fixed term. If you know that you will need your money on a specific date, for example in 3 months from now, you can arrange for the fixed- term deposit to mature in 3 months from now.
Additionally you can choose one of our Special Deposit Products that gives you flexibility as to their duration, the time at which interest is paid and the ability to withdraw part of the amount deposited before the agreed expiry date.
2. What is the procedure for renewing a fixed-term deposit account?
A few days before your fixed-term deposit expires you will receive a letter from the Bank reminding you of the expiry date. You need to give instructions if, for example, you want to add to or remove money from the fixed-term deposit. You can also give instructions at the expiry of the fixed-term deposit for the interest or the entire amount deposited and the interest to be transferred to another account. These instructions may be communicated to the bank branch or your dedicated banker.
If you do not want any change to your fixed-term deposit, it will be automatically renewed with the Bank’s interest rate at that time, to ensure that there is no loss of interest even if you forget the fixed-term deposit renewal date.
3. What are my options for collecting the interest?
The Bank offers a wide range of fixed-term deposits, each of which involves a different way of collecting the interest rate. You may collect the interest immediately upon opening a fixed-term deposit account, monthly, upon the account's expiry, or even in parts at specific dates which you designate. All you have to do is select the product appropriate to when you wish to collect the interest.
4.What is the difference between Special Deposit Products (“UpFront”, “Monthly”, “Flexi Fix”) and Fixed Term Deposit accounts (“Classic”)?
Special Deposit Products are fixed term deposit accounts with flexible characteristics. Special Deposit Products may vary according to their duration, the time at which interest is paid and the ability to withdraw part of the amount deposited before the agreed expiry date.