New Term Deposit account from Clydesdale and Yorkshire Banks

Clydesdale and Yorkshire Banks has launched new rates of up to 4.25% AER on its Term Deposit account.

The account is ideal for those who want to put away a lump sum and don't want to make any withdrawals or additional deposits.

Steve Reid, Retail Director for Clydesdale Bank, said: "People want to ensure that their money is safe and is working for them and at Clydesdale and Yorkshire Banks we are focused on delivering competitive rates for savers.

"Our Term Deposit account is ideal for those who want to invest for a longer term and don't wish to make any additional withdrawals or deposits." 

The key features of the account are:

Guaranteed interest rates - up to 4.25% AER (4.63% Gross) if held for the full 5 year term

Range of savings terms - choose from 3, 6 and 12 months and 2, 3 and 5 years.

Minimum opening deposit £2,000, save up to £5,000,000.

Interest capitalised and paid annually, or on maturity.

Monthly or annual payment interest option also available - receive your interest monthly, paid directly to your Clydesdale or Yorkshire Bank account.

The Term Deposit account is available to new and existing customers of Clydesdale and Yorkshire Banks. For more information, visit ybs.co.uk or cbonline.co.uk.