Term deposit

Term deposit: frequently asked questions

• What is a LeasePlan Bank business Term Deposit?

  With a business Term Deposit, you lock in some or all of the balance of your business internet savings account for a fixed period at a higher interest rate. That period may be 3, 6 or 9 months, or 1, 2, 3, 4 or 5 years. The corresponding interest rate applies for the entire period.

  Please note that at the moment of arranging the term deposit, the fixed interest rate will be higher than the variable interest rate paid on the internet savings account, but it is possible that during the fixed period the variable interest rate may rise above the fixed interest rate on your selected term deposit.

  You can link multiple LeasePlan Bank term deposits to your business internet savings account.

   

• How do I open a business term deposit?

  If you want to open a business Term Deposit you need to have a LeasePlan Bank Internet savings account. If you already have a LeasePlan Bank savings account then you can simply open a Term Deposit from your personal page.

  If the above mentioned doesn’t apply to you then opening a business term deposit starts with opening a business internet savings account. You can do this on the term deposit page or on the business internet savings account page. You must open the business term deposit at least one day before the commencement date of the term deposit.

  As soon as you have a balance in your business internet savings account, you can open a business term deposit.

   

• What options do I have at the end of my fixed term?

  You can specify what happens to your term deposit at the end of the period. You can choose between the following options:

  • Lock in the total amount for a new fixed term at the applicable interest rate and conditions at that time
  • Have the total amount deposited to your business internet savings account.

  Once you have selected a given term, that term cannot be changed.

   

• What are the minimum and maximum deposits for a LeasePlan Bank term deposit?

  The minimum deposit for a LeasePlan Bank term deposit is € 1,000. The maximum balance of an internet savings account is € 1,000,000; this means that the total balance of your internet savings account, including any term deposits, may not exceed
  € 1,000,000.

   

• What does opening a business term deposit cost?

  There is no cost for opening a term deposit.

• What is the start date of the term deposit?

  The date that you open the term deposit is also the start date, provided that the term deposit has been opened before 20.00 hours. If you open the term deposit after 20.00 hours, than the start date will be the next day.

• How do I access the information on my business term deposit?

  To access the information on your business term deposit, log in on your personal page using your user name and password. You will then see a list of your current internet savings account and term deposits.

   

• Can I access the balances on business term deposits at any time?

  No, you cannot withdraw money from your business term deposits before the expiry of the term. For the exceptions, see the  Product conditions of LeasePlan Bank.

   

• Is there a maximum number of business term deposits?

  No, you can open as many business term deposits as you wish, as long as you do not exceed the maximum balance of € 1,000,000.

   

• Can I transfer money to one of my current business term deposits?

  No, once opened you cannot make additional deposits to a term deposit. You may, of course, open a new term deposit at any time.

   

• Can I prematurely terminate my business term deposit?

  No, term deposits cannot be prematurely closed. For the exceptions, see the Terms and Conditions of LeasePlan Bank.

• How is the interest rate on the business term deposit(s) calculated?

  The level of the interest rates LeasePlan Bank offers for the various fixed terms depends on the developments in the money market and LeasePlan Corporation N.V.'s capital requirements. To learn more about interest, please visit our interest rate information page.