Term Deposit Account
A term deposit account is a specialised savings account. This is where money is deposited for a fixed period.
In this case our Term Deposit Account is for 2 years. Unlike regular savings accounts, with our term deposit, no withdrawals can be made during the 2 year term and therefore it is only suitable if you have a sum of money you will not require access to for that period.
In return for this commitment, our members will receive a higher interest rate compared to standard savings accounts with the rate remaining fixed throughout the term. This allows you to enjoy predictable returns on your money.
Benefits
- Invest for a 2 year term with a guaranteed rate of 2% (AER 1.98%)*, gross return 4% paid at the end of the 2 year term
- Your deposit is fully secure and protected under the Deposit Guarantee Scheme
- No hidden fees or charges
- Available to single and joint account holders
More information on our Term Deposit Account
Details
- You must be a member of St. Canice’s Credit Union
- Minimum of €5,000 to invest for a period of 2 years
- You must be a resident in the Republic of Ireland and over 18 years old
- You can deposit between €5,000 and €30,000 in a single lodgement only
- No withdrawals can be made during the 2 year term
Example
Members who invest €30,000 in a 2 year fixed term deposit account will earn €1,200 gross in interest at the end of the 2 year term.
Deposit Interest Retention Tax will be deducted at the prevailing rate from the interest you earn and automatically paid directly to revenue on your behalf, where applicable.
Warning: If you invest in this product you will not have any access to your money for two years.
*AER is the Annual Equivalent Rate and which shows what the interest would be if the interest was compounded and applied each year.
Terms and conditions apply.
Enquiry form Term Deposit Account
Please complete the form below if you have a question or if you want to make a quick loan enquiry – click loan enquiry.
First Name (Required)
Account No.
Phone No. (required)
Last Name (Required)
Email Address (Required)
Amount looking to invest (Required)