Streamlined fixed term deposits are available with Bank of Scotland. They can be opened at a lower cost than other term deposits. Our current cost for opening or rolling over a streamlined term deposit is £25.

Interest rates

A streamlined fixed term deposit with Bank of Scotland will be opened through our preferred branch.

For indicative interest rates for this account please contact Laura Hutchinson of the Bank of Scotland directly on telephone number 0131 658 4611. To ensure you are quoted the correct rates, when contacting Bank of Scotland please ensure that you state that the account is to be held within a Suffolk Life plan.

The minimum investment for each account with Bank of Scotland is £50,000.

Interest rates provided are for indication purposes only and under no circumstances can be guaranteed. Rates may change between you providing your instruction and the account being established.

Establishment procedures

In order to establish a Streamlined fixed term deposit account with Bank of Scotland, please contact the Cash Movement team on 01473 296 951. Suffolk Life endeavour to submit new applications within three working days of receipt. These times are in addition to the turnaround time of Bank of Scotland.

Once an instruction has been provided to us, it may not be possible to cancel the instruction. In addition, most term deposit providers do not allow access to funds held in a term deposit until maturity.

Maturity procedures

It is your responsibility to provide maturity instructions to us and these should be provided to the Cash Movement team by telephone, fax or post at least 2 working days prior to maturity. In the absence of instructions from you, the bank’s default process will apply.

Suffolk Life are not able to give financial advice and the above should not be construed as advice.