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Compare 1 Year Fixed Rate Bonds

Charter Savings Bank
Fixed Rate Bond Charter Savings Bank
Min deposit £1000
Term 1 Year
Interest AER 0.61%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

IS Bank
Fixed Rate Bond IS Bank
Min deposit £1000
Term 1 Year
Interest AER 0.6%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

QIB UK Bank
Fixed Rate Bond QIB UK Bank
Min deposit £1000
Term 1 Year
Interest AER 0.6%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

Zenith Bank UK
Fixed Rate Bond Zenith Bank UK
Min deposit £1000
Term 1 Year
Interest AER 0.55%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 0.55%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Cambridge & Counties Bank
Fixed Rate Bond Cambridge & Counties Bank
Min deposit £10000
Term 1 Year
Interest AER 0.5%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

ICICI Bank
Fixed Rate Bond ICICI Bank
Min deposit £1000
Term 1 Year
Interest AER 0.5%

Why we like it: Register for a free Raisin UK Account to apply for product. Interest paid on maturity. Maximum deposit £85,000. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 1 Year
Interest AER 0.4%

Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)

Nationwide
Triple Access Online Saver Nationwide
Min deposit £1
Term 1 Year, with three free withdrawals
Interest AER 0.4%

Why we like it: Make up to three withdrawals during the 12-month term of this account. Open with £1. Manage your account online. Interest paid at maturity. FSCS Protected. Must be UK resident and aged 16 or older. Make more than three withdrawals and the rate drops to 0.01% AER/gross p.a. (variable). Not available in branch

Is a 12 month fixed rate bond right for you?

Right now, there are some savings accounts on the market that offer competitive rates of interest on smaller amounts of money. For example, RCI Bank and Post Office presently offer 1.30% on their leading savings accounts.

However, if you are looking to get a return on a larger sum, fixed rate bonds can be a great means of providing a secure income. They offer a guaranteed return for the life of the bond and let you keep your existing current account while transferring the balance not earning interest into the bond.

This makes depositing your money into a bond a relatively simple, hassle-free way to start making your money do more for you, without requiring you to change your day-to-day banking.

12 month fixed rate bonds can be particularly attractive as they mean your money is only locked away for a relatively short period. This can make them a good choice if you are planning to use your savings within the next few years.  You can earn a return and maintain the value of your funds relative to inflation while still giving you access to your money when you need it.

Compare 12 month fixed rate bonds

We have selected some of the most attractive 12 month fixed rate bonds currently on offer below. The rates of interest they offer change regularly, so please see the table above for the latest rates.

1. Zenith Bank 1 Year Fixed Rate Bond »

  • Fixed 1 Year 1.87% at time of writing
  • Interest is on maturity
  • Online access only
  • Minimum deposit - £1,000
  • Available as a single or joint account
  • FSCS Protected up to £85,000

Quick online application from Zenith Bank

 

2. Habib Bank 1 Year Fixed Rate Bond »

  • Fixed 1 Year 1.85% at time of writing
  • Interest paid at maturity
  • Open an account singly or jointly
  • Minimum deposit - £1,000
  • FSCS Protected up to £85,000

Quick online application from Habib Bank

 

3. Axis Bank 1 Year Fixed Rate Bond »

  • Fixed 1 Year 1.80% at time of writing
  • Interest paid monthly, quarterly or on maturity
  • Open an account singly or jointly
  • Minimum deposit - £1,000
  • FSCS Protected up to £85,000

Quick online application from Axis Bank

Other fixed rate bonds

If you are not planning on using your money in the near future, you may want to consider 2 year, 3 year or 5 year fixed rate bonds as these can provide a better rate of interest. However, these longer term bonds will increase the length of time during which you cannot access your savings.

Find 12 Month Fixed Rate Bond Best Buys

Getting the best deals on 12 month fixed rate bonds can be confusing, but there are some fantastic opportunities out there if you can find them. Make sure to shop around and you should be able to find an account that matches your specific needs while offering a good return.

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.