Aldermore Bank Plc: 18 months Fixed Term Deposit

The interest rate applicable to your savings account is fixed once your application is approved and you fund your account. The rate will stay the same throughout the duration of the fixed term. Should the bank amend the rate advertised before you have fully transferred your funds and the rate is lower than the rate you originally ordered, we will automatically cancel your order. We will contact you if this occurs.

The estimated balance after 18 months on a deposit of £5000 is £5,315.00. This projection is for illustrative purposes only and does not take into account individual circumstances.

To open this savings account, you must apply online through Aviva plc. Savings accounts at Aviva plc are only available through this online application process, and to be eligible to apply, you must ● Be a UK resident who is aged 18 or over ● Hold a UK bank or building society account from which you will fund your application ● Have a valid mobile phone number and email address ● Have a UK National Insurance Number Your application acceptance will be subject to the successful completion of an Anti-Money Laundering/Know Your Customer (AML/KYC) checks. The minimum amount you can deposit is £5000 and the maximum amount you can deposit is £85000 (per product and banking institution). Please ensure you have read and understood all sets of Terms and Conditions before applying for this product. You can manage your savings account through Aviva plc by logging into your Aviva plc Account. You can contact Aviva plc by telephone, by email or in writing by using the contact details provided in the Aviva plc Terms and Conditions.

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except in any exceptional circumstances agreed to by Aldermore Bank Plc in its absolute discretion. This savings account does NOT operate on the basis that you can end the fixed term of your savings account prematurely and pay a fee to withdraw your funds sooner. Your savings account will not automatically renew at the end of the fixed term for a further fixed term.

Meteor Asset Management (MAM), through their administration arm MeteorInvestment Management (MIM), will administer the deposit on your behalf, whilst Meteor Trustees Limited (MTL), a wholly owned subsidiary of MAM will act as Bare Trustee. Funds will appear in MTL’s account by the following business day from funding your application at the latest. Funds will be remitted to Aldermore Bank Plc by MTL on the next business day after arriving in the MTL account. It can therefore take up to 2 business days for an ordered product to be set up and start earning interest. All cash in transit and deposits once established, will be administered by MIM and held by MTL in trust for you.

The FSCS is the United Kingdom's statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit. Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.