Rothschild Reserve is launching a new fixed-rate deposit product for UK residents. The interest rate is a fixed 4.60 per cent gross for a five-year fixed term maturing on 1 September 2015.

The minimum deposit is £20,000 (about $30,000), while the maximum amount is £2,000,000. Interest is payable monthly, annually or all at maturity.

“Following the success of Rothschild Reserve’s previous offers, we are pleased to launch our third deposit product, offering high-value savers a competitive interest rate while delivering a quality service. Rothschild Reserve complements the existing private client services offered by the Rothschild Group,” said Christopher Coleman, head  of  banking at Rothschild.

Rothschild Reserve is a deposit-taking business of N M Rothschild & Sons, a UK bank which is part of the family-owned Rothschild Group.