Best Fixed Rate Bonds in the UK in 2024

3 min Read Published: 06 Dec 2024

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
Raisin 1 year Fixed Term Deposit 4.80% £1,000 Online Online Own Licence
Secure Trust Bank  6 Month Fixed Rate Bond 4.80% £1,000 Mobile Banking, Online, Telephone Online Own Licence
VidaSavings 1 Year Fixed Rate Bond 4.77% £100

Email, Online, Post, Telephone

Online
Own Licence

Source: SavingsChampion.co.uk: Updated 06/12/2024 

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
United Trust Bank 2 Year Bond (Online) 4.61% £5,000 Email, Online, Post, Telephone Online Own Licence
Atom Bank 2 Year Fixed Saver 4.60% £50 Mobile Banking Mobile Own Licence

Source: SavingsChampion.co.uk: Updated 06/12/2024 

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
Atom Bank 3 Year Fixed Saver

4.60%

£50
Mobile Banking Mobile Own Licence
JN Bank UK Fixed Term 3 Year 4.60% £1,000 Online, Telephone Online Own Licence
Secure Trust Bank 3 Year Fixed Rate Bond (10.Jan.28) 4.55% £1,000 Online, Telephone Online Own Licence

Source: SavingsChampion.co.uk: Updated 06/12/2024 

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: SavingsChampion.co.uk: Updated: 06/12/2024 

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
Atom Bank 5 Year Fixed Saver 4.60%
£50
Mobile Banking Mobile Own Licence
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

Source: SavingsChampion.co.uk: Updated 06/12/2024 

Other best buy savings tables

The following savings best buy tables are also available:

Two ways to always ensure you get the best savings rate

  1. Bookmark this page and regularly check our best buy tables, such as the one below.
  2. 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.

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