19 MAY 2023

How to access Lloyds Bank Fixed Term Deposit accounts through Millenium Investment

To help your clients make the most of their cash in the short term, we have launched a range of Fixed Term Deposit and Notice accounts with Lloyds Bank International through the Millenium Investment Platform.

It means, rather than having money sitting in their Millenium Investment cash account, it can be earning a solid rate of interest.

The accounts

GB Sterling 

• 3 months/6 months/9 months/12 month accounts.
• Minimum deposit £10,000.
• 32 Day Notice account.
• 95 Day Notice account.
• All Notice accounts have a minimum balance requirement of £100,000.

US Dollar 

• 3 months/6 months/9 months/12 month accounts.
• Minimum deposit US$10,000.
• 32 Day Notice account.
• 95 Day Notice account.
• All Notice accounts have a minimum balance requirement of US$100,000.

Euro

• 3 months/6 months/9 months/12 month accounts.
• Minimum deposit EUR10,000.

We will place new deposits into these accounts with Lloyds once a week. Rates on the accounts will be subject to change, and the current rates will be displayed on the Fixed Term Deposit Accounts section on the Millenium Investment website.

Charges

We will charge £50 or currency equivalent for each deposit placed and £50 (or currency equivalent) when the deposit matures.

How it works

Each week we will set up 16 new assets (4 for each of the 3 currencies to cover the different terms and 2 each for GBP and USD to cover Notice account terms). The name will contain the date the deposits/Notice accounts will be placed and the currency– for example, Lloyds Bank International GBP 3 month fixed deposit (14 April 2023).

We will place deposits and set up new Notice accounts once a week with Lloyds, on a Friday. Cut off to submit instructions will be 10am (UK time) each Thursday. You will be able to view the current rates for all 16 accounts on the Millenium Investment website.

We will start placing deposits on Friday 26th May, which means we will need any instructions by 10am on Thursday 25th May.

More information about our Fixed Term Deposit accounts is available in our guidance notes and via our Cash Deposit Declaration Form which can be found on our dedicated Deposit Accounts page.

If you would like to discuss this further, please contact your sales representative in the usual way.