Flexi Business Deposit Account

At certain times in the growth of your business or at certain times during the year, you may find that you have money to put on deposit. One of the key balancing acts any business is faced with is trying to maximise the return on any cash surplus your business may generate while also ensuring that you have access to funds if your business requires it. For this reason, AIB have designed the Flexi Business Deposit Account which offers fixed rates of interest and instant access to a portion of your business savings, without penalty or charges.

How a Flexi Business Deposit Account works:

• A Flexi Business Deposit account offers a fixed rate of interest for the period of investment.
• Save any amount between EUR6,000 and EUR500,000. No mid-term lodgements allowed.
• Choice of two convenient terms – 2 months or 4 months
• Access to part of your funds in a one-off withdrawal without penalty
• Available to all business and agricultural customers
• Interest on a Flexi Business Deposit Account will be liable to DIRT, where applicable, at the prevailing rate (for more information please visit www.revenue.ie).

Benefits of a Flexi Business Deposit Account:

• With the 2 month fixed term, you have the option of making a one-off withdrawal of up to 35% of your total funds without penalty.
• If you choose the 4 month option, you have the flexibility of being able to access up to 30% of your total funds in one withdrawal, again without incurring any bank charges or penalties.
• You have the peace of mind of full capital security for your chosen term, with a fixed rate of interest for the period you choose.
• Interest is paid into your account at the end of your chosen term.

Lodgements & Withdrawals

No mid-term lodgements allowed.

You can withdraw up to the following without incurring a penalty.

• Up to 35% of your funds in a once off withdrawal on the 2 month term.
• Up to 30% of your funds in a once off withdrawal on the 4 month term.

If more than one withdrawal is made from the account and/or the above withdrawal criteria are not adhered to, a redemption cost will be applied.

The redemption cost is made up of:

*Funding cost is made up of the amount withdrawn multiplied by the difference in the interest rate on the date of deposit and the date of withdrawal, multiplied by the remaining term.

Maturity

At maturity, you can withdraw all of your funds or reinvest them again for a further fixed period. Remember to contact your branch prior to the maturity date and advise us of your preferred re-investment instructions. In the absence of your advice, your funds will be placed on AIB’s prevailing standard overnight rate.

How to Open a Flexi Business Deposit Account:

• All business clients may open a Flexi Business Deposit Account
• Call into any branch to complete a Flexi Business Account application form
• Normal business account opening procedures apply - please see our related information section

Important / Regulatory Wording

Terms and conditions apply.

• Flexi Business Deposit Accounts Terms and Conditions
• Terms and Conditions for Current Accounts and Demand Deposit Accounts

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