Compare 2 Year Fixed Rate Bonds
2 Year Fixed Rate Bonds
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £1,000,000. 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)
Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected
Why we like it: Interest can be paid monthly or annually. £2,000,000 maximum balance. FSCS Protected. Must be UK resident and aged 18 or older. No withdrawals permitted
Is a 2 year fixed rate bond right for you?
For smaller amounts of money, a savings account is likely to offer the best rate of interest. For example RCI Bank currently offer 1.05% on their Easy Access Savings Account.
If your savings are higher than the limit your savings account pays interest on, however, you are likely missing out on significant potential returns. Fixed rate bonds provide a guaranteed income for the life of the bond and usually allow you to deposit far more than most current accounts.
Fixed rate bonds let you keep your current account, so you don’t have to worry about rearranging your day-to-day banking, while making sure that all of your money is earning a return.
2 year fixed rate bonds are great if you don’t immediately need access to your savings, but want to keep your options open for the not too distant future. They allow you to earn a good rate of interest on your savings and help maintain the value of your money relative to inflation.
Compare 2 year fixed rate bonds
We have selected some of the most attractive 2 year 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. RCI Bank 2 Year Fixed Rate Bond »
- Fixed 3 Year 1.45% at time of writing
- Interest paid monthly or annually
- Open online
- Minimum deposit - £1,000
- FSCS Protected up to £85,000
Quick online application from RCI Bank
2. Access Bank 2 Year Fixed Rate Bond »
- Fixed 2 Year 1.35% at time of writing
- Interest paid annually
- Open online
- Minimum deposit - £5,000
- FSCS Protected up to £85,000
Quick online application from Access Bank
3. Shawbrook Bank 2 Year Fixed Rate Bond »
- Fixed 2 Year 1.25% at time of writing
- Interest paid at monthly or annually
- Minimum deposit - £1,000
- Maximum deposit - £2,000,000
- FSCS Protected up to £85,000
Quick online application from Shawbrook Bank
Other fixed rate bonds
If are unsure about locking your savings away for 2 years, you might be better opting for a 1 year fixed rate bond. These often have the option to automatically rollover your deposit, allowing you to keep earning a return while giving you more flexibility if you need to access your savings sooner.
Alternatively, you could also consider a 3 year or 5 year fixed rate bond as these generally offer a better rate of interest that a 2 year bond.
Find 2 Year Fixed Rate Bond Best Buys
Choosing the best 2 year fixed rate bond for your needs can seem complicated, but if you are clear what you want from your money, you can find some fantastic deals. Carefully compare the different features various providers offer and you should be able to find a good match for your requirements.
