Fixed Term Deposit Account Options
| TERM | DETAILS | AER | GROSS RETUEN |
24 Months | BKCU 2 Year Deposit | 2.25% | 2.25% |
36 Months | BKCU 3 Year Deposit | 2.5% | 2.50% |
- Minimum Lodgement Amount: 24 Month term a minimum of €250 applies while a 36 Month term a minimum of €500 applies
- Maximum Amount: Up to €50,000
- Interest Payment Frequency: Annually.
- Further lodgements to the same balance are not permitted once the account is opened. Withdrawals are not permitted for the term except for one withdrawal up to 10% of the amount deposited.
- The fixed term period will commence on the date the deposit is opened and will end on the maturity date.
- All interest earned will be subject to DIRT and will be deducted at source at the applicable rates (Exemptions may apply).
- The deposit account is not eligible for Life Savings Insurance cover. Any funds that are withdrawn from a Share Account in order to fund this Account could impact the amount of Life Savings Insurance that may be received in the event of death.
- Please refer to terms and conditions for more information.
Become a Member
Join the Credit Union and avail of numerous tailored benefits, outstanding customer service and amazing community
Choose your best option
Choose from our 2-Year and 3-Year options
Apply for your fixed term deposit
Applications accepted in person at any of our Credit Union offices.
Sit back and relax
Voilá! You are done! Our team are now reviewing your application, we will be in touch shortly.
FAQ's
Your share accounts give you full access to your savings at any time, unless secured against a loan as collateral. With fixed term accounts your savings are locked away for the set period. Fixed term accounts offer better interest rates than demand accounts.
You must be over 18 and be a member of BKCU to set up a Fixed Term Deposit Account. In addition, you must hold a minimum amount in your shares to hold a Fixed Term Deposit Account.
Alternatively, if you have any questions, please call our Member Service Team on 0749554455 or email us at info@bkcreditunion.ie to book an appointment to apply for a Fixed Term Deposit Account.
If you are not already a member and you wish to join BKCU you will be required to provide:
- Proof of ID, e.g., driving licence or passport (PPS cards cannot be accepted as proof of ID)
- Proof of address, e.g., utility bill or bank statement issued within the last six months.
- Proof of PPS number, e.g., payslip or revenue documentation. (Please be advised that we cannot accept the Public Service Card as proof of PPS Number)
Additional lodgements are not permitted to the Fixed Term Deposit. Lump sum lodgements are only allowed when the Fixed Term Deposit has been set up.
One withdrawal of up to 10% of the amount deposited may be withdrawn during the term by the member. It may take up to 10 working days for a withdrawal to be processed.
If you feel that you may need full or partial access to your funds during the Term, then this Account may not be appropriate for you. However, please contact us and the team will be happy to advise you on the most suitable savings product to match your requirements.
In the event that your circumstances change, or you change your mind, after you have completed the application form; you can withdraw some or all of your account balance up to 14 calendar days from the date of account set up, without charge.
Your Fixed Term Deposit Account can be viewed online after it has been set up. However, you will not be able to set up a Fixed Term Deposit Account online. We require you to call into our branch and complete an application form.
Important Information
FUNDS ARE LOCKED-IN
It is not possible to access the funds in the account in advance of the maturity date. The total amount inclusive of interest earned will be credited to your shares upon maturity.
ANNUAL INTEREST
Interest is paid annually and DIRT will be deducted at source at the prevailing rate.
AER – ANNUAL EQUIVALENT RATE
Annual Equivalent Rate (AER) illustrates what the interest would be if interest was paid and compounded each year. Our AER calculation assumes that the account is held for a year and that the interest rate remains constant.
LUMP SUM PAYMENT
Direct Debits and Standing Orders cannot be set up on fixed term deposit accounts.
