Zenith Bank (UK): 3 years Fixed Term Deposit

/ Gross

AER is the Annual Equivalent Rate and represents what the interest rate would be if interest was realised and paid once each year.

Interest is calculated daily and paid annually back to your Raisin UK account. Interest will be paid gross without prior deduction of tax.

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 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 36 months on a deposit of £1,000 is £1,141. This projection is for illustrative purposes only and does not take into account individual circumstances.

o open this savings account, you must apply online through Raisin. Savings accounts at Raisin 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
●  Have a long Passport number and expiry date

Your application acceptance will be subject to the successful completion of Anti-Money Laundering/Know Your Customer (AML/KYC) checks.

The minimum amount you can deposit is £1000, and the maximum amount you can deposit is £85,000 (per product and banking institution).

You can manage your savings account through Raisin by logging into your Raisin Account. You can contact Raisin by telephone, by email or in writing by using the contact details provided in the Raisin Terms & Conditions.

Please ensure you have read and understood all sets of Terms and Conditions before applying for this product.

Because this savings account is a fixed term deposit, withdrawals are not permitted before the maturity date, except if an account holder dies, becomes mentally incapacitated or bankrupt, or in any other exceptional circumstances agreed to by Zenith 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.

Transfers of funds must be received within 60 days (the funding window) of your savings account application date. Any funds received after this period will be held in your Raisin UK Account, awaiting your instruction.

Funds must be transferred to your Raisin UK Account from a UK bank or building society account in your name by electronic bank transfer only, and to the exact amount pledged when you applied for the savings account.

Should you not transfer the amount you pledged before the funding window closes, your application will be cancelled. Should you transfer more than you pledged, the amount that exceeds your original pledge will be held in your Raisin UK Account pending your instruction.

Typically, your funds will be remitted to Zenith Bank (UK) by ClearBank once the bank has confirmed your application. Depending on how your funds are transferred and the bank’s processes it can typically take around 4 business days for an ordered account to be set up and start earning interest.

Please note that Zenith Bank (UK) may conduct additional KYC checks before an account with the bank is opened and approved. Zenith Bank (UK) can choose to reject your application at their sole discretion if you fail these additional checks and your funds will be returned to your Raisin UK account immediately.

To purchase a savings account from Zenith Bank, you need to provide the following information:

• A valid email address which Raisin UK can use to send you confirmation of your application;
• Your personal details including your name, date of birth and National Insurance number;
• Your address and postcode;
• Your long passport number and passport expiry date;
• A UK mobile telephone number; and
• The details of a UK bank or building society account from which you will fund your application.

Your deposits with Zenith Bank (UK) 3 Year Fixed Term Deposit– are eligible for protection by the Financial Services Compensation Scheme (FSCS). 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 deposits of 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.

For further information about how the protection of your eligible deposits and exclusions apply please refer to the FSCS website www.fscs.org.uk