What is a fixed-rate savings bond
A fixed-rate savings bond (also known as a 'fixed rate bond)' is a type of savings account which provides a guaranteed rate of interest in exchange for locking your money away for a specified period of time, usually between 1 year and 5 years. By locking your money away for the agreed period of time you can usually earn a higher rate of interest than via standard savings accounts. However, bear in mind that in most instances, you won't be able to withdraw your money from the fixed-rate bond before the agreed time period. In the unusual instance that a provider does allow you to withdraw your money early, then you will likely incur a penalty and/or lose interest. If you don't want to lock your money away for an extended period of time but do want to use fixed rate bonds to boost the amount of interest that you earn then you could consider using a cash savings ladder approach.
Best Fixed Rate Bonds
SavingsChampion.co.uk monitors the whole UK savings market (that's over 4,000 accounts) to bring together the best buys available.
Best 1-year fixed-rate savings accounts
| Provider | Account Name | AER | Minimum opening balance | How to manage the account | How to apply |
Financial services compensation scheme
|
|
| HTB | 6 Month Online Fixed Saver (Issue 14) | 4.81% | £1 | Online, Email, Telephone | Online | Own Licence | |
| Secure Trust Bank | 6 Month Fixed Rate Bond | 4.80% | £1,000 | Mobile Banking, Online, Telephone | Online | Own Licence | |
| The Nottingham | 6 Month Fixed Rate Bond Issue 8 | 4.80% | £500 | Mobile Banking, Online | Mobile, Online | Shared Licence |
Source: theprivateoffice.com: Updated 19/12/2024
Best 2-year fixed-rate savings accounts
| Provider | Account Name | AER | Minimum opening balance | How to manage the account | How to apply |
Financial services compensation scheme
|
|
| Oxbury | Personal 18 Month Bond Account (Issue 14) | 4.65% | £1,000 | Mobile Banking, Online | Online | Own Licence | |
| Castle Trust Bank | 2 year Fixed Rate e-Saver | 4.64% | £1,000 | Mobile Banking, Online, Telephone | Online | Own Licence | |
| United Trust Bank | 2 Year Bond (Online) | 4.63% | £5,000 | Email, Online, Post, Telephone | Online | Own Licence |
Source: theprivateoffice.com: Updated 19/12/2024
Best 3-year fixed-rate savings accounts
| Provider | Account Name | AER | Minimum opening balance | How to manage the account | How to apply |
Financial services compensation scheme
|
| Hodge | 3 Year Fixed Rate Bond | 4.62% | £1,000 | Internet Banking | Online | Own Licence |
| DF Capital | 3 Year Fixed Rate Deposit (Issue 9) | 4.61% | £1,000 | Email, Online, Telephone | Online | Own Licence |
| JN Bank UK | Fixed Term 3 Year | 4.60% | £1,000 | Online, Telephone | Online | Own Licence |
Source: theprivateoffice.com: Updated 19/12/2024
Best 4-year fixed-rate savings accounts
| Provider | Account Name | AER | Minimum opening balance | How to manage the account | How to apply |
Financial services compensation scheme
|
| JN Bank UK | 4 Year Fixed Rate Saver | 4.51% | £1,000 | Online, Telephone | Online | Own Licence |
| Oxbury | Personal 4 Year Bond Account - Issue 9 | 4.48% | £1,000 | Mobile Banking, Online | Online | Own Licence |
| SmartSave | 4 Year Fixed Rate Saver | 4.37% | £10,000 | Online | Online | Shared Licence |
Source: theprivateoffice.com: Updated 19/12/2024
Best 5-year fixed-rate savings accounts
| Provider | Account Name | AER | Minimum opening balance | How to manage the account | How to apply |
Financial services compensation scheme
|
|
| HODGE Bank | 5 Year Fixed Rate Bond (Online only) | 4.52% | £1,000 | Online | Online | Own Licence | |
| Birmingham Bank | 5 Year Fixed Rate Bond – Issue 8 | 4.52% | £5,000 | Online | Online | Own Licence | |
| SmartSave | 5 Year Fixed Rate Saver | 4.50% | £10,000 | Online | Online | Own Licence |
Source: theprivateoffice.com: Updated 19/12/2024
Other best buy savings tables
The following savings best buy tables are also available:
- Best High Interest Current Accounts
- Best Easy Access Savings Accounts
- Best Variable Rate ISAs
- Best Fixed Rate ISAs
- Best Notice Savings Accounts
- Best Regular Savings Accounts
- Best Children’s Savings Accounts
- Best Cash Lifetime ISAs
- Best Cash Junior ISAs
- Best Easy Access Cash ISAs
- Best Notice Cash ISAs
Two ways to always ensure you get the best savings rate
- Bookmark this page and regularly check our best buy tables, such as the one below.
- You can also sign up to the FREE rate tracker email alert which will monitor savings account rates for you. You simply enter your email address and the names of the savings accounts you currently have. Then, not only will the system tell you if you are getting a good deal, but it will continuously monitor the market for you and email you when there are better deals out there than your existing account. When using the tool make sure you enter the correct balance for each of your accounts as some deals out there offer tiered rates - whereby the interest rate paid is dependent on your account balance.
If a link has an * beside it this means that it is an affiliated link. If you go via the link, Money to the Masses may receive a small fee which helps keep Money to the Masses free to use. The following link can be used if you do not wish to help Money to the Masses or take advantage of any exclusive offers - Raisin
