FSCS Protected

Your deposits with Halcyon Money are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS) the UK’s deposit guarantee scheme.

The FSCS is funded by the financial services industry and is free to consumers. For more information, please visit the FSCS website.

Ready to open a fixed term saver?

What you will need

  • Your contact details
  • Your email address
  • Current account details that you would like to set up as your nominated bank account
Apply

Please read the account summary and terms and conditions before applying.

FAQs

Accounts must be opened online through Raisin UK savings platform. The minimum deposit is £1,000 and the maximum is £85,000. Account holders must be aged 18 or over and a UK resident for tax purposes.

The monthly interest rate will vary to make sure that you receive an overall 4.91% interest payment on your initial deposit over the year. Interest is calculated daily from the day you open your account.

No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the end date of the fixed term.

Interest is paid on the last business day of every month.

This product is intended as a medium-term savings product of one year which will last until maturity on the anniversary of the account opening.

Withdrawals or closure are not permitted during the term other than under the following circumstances for account holder(s) – critical or terminal illness, death, redundancy, nursing home or elderly care costs, divorce or court order. Any withdrawals are at the discretion of the Credit Union’s Directors, and proof may be required.

At the Maturity Date we’ll automatically reinvest your deposit and any outstanding interest into a new Fixed Term Savings Account unless you tell us you want to opt out or we no longer offer this product. 

The interest rate for the new account may be higher or lower than the rate of interest which applied to your original Fixed Term Savings Account. 

Early closure will result in no interest being payable. Partial withdrawal will result in no interest on the amount withdrawn. Early closure for death or a certified terminal illness of a member of the household will be permitted and interest will be payable.