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This comparison simply includes all savings accounts.

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 9 Months
Interest AER 4.50%

Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Investec Savings
Fixed Rate Bond Investec Savings
Min deposit £5000
Term 1 Year
Interest AER 4.50%

Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 1 Year
Interest AER 4.40%

Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 18 Months
Interest AER 4.51%

Why we like it: Market Leading 18 Month Fixed Rate Bond. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 2 Years
Interest AER 4.51%

Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted

RCI Bank
Fixed Rate Bond RCI Bank
Min deposit £1000
Term 2 Years
Interest AER 4.50%

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)

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 3 Years
Interest AER 4.50%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 3 Years
Interest AER 4.41%

Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 4 Years
Interest AER 4.27%

Why we like it: MARKET LEADING 4 YEAR FIXED RATE BOND. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 4 Years
Interest AER 4.20%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Hampshire Trust Bank
Fixed Rate Bond Hampshire Trust Bank
Min deposit £1
Term 5 Years
Interest AER 4.27%

Why we like it: MARKET LEADING 5 YEAR FIXED RATE BOND. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 5 Years
Interest AER 4.25%

Why we like it: Minimum deposit £1,000 - No withdrawals permitted - FSCS Protected

Is a fixed rate bond best for you?

Whether putting your money into a fixed rate bond makes sense usually depends on how much money you have to deposit. For smaller sums, a savings account will generally offer the best rates of interest. 

However, if your savings take you above the limit on which your savings account will pay interest or your maximum permitted balance, a fixed rate bond can be a very good option. It will allow you to earn a return on your money at a guaranteed rate for the life of the bond. Fixed rate bonds usually have a much higher maximum deposit than the threshold at which most current accounts stop paying interest.

One key advantage of fixed rate bonds is that they can be set up in parallel with your existing current account, either with the same institution or a different one. This means you can start getting more out of your savings without needing to rearrange your day-to-day banking.

It is worth bearing in mind that if you have savings in your current account not earning interest, then that money is likely to be effectively declining in value in real terms thanks to inflation. Placing your savings into a fixed rate bond is therefore a great way to maintain your money’s value over time.

How long should you fix your savings for?

Most fixed rate bonds are offered for 1 year, 2 years, 3 years or 5 years. Some companies also offer 30 month and 4 year bonds, although these are less common. In general, the longer the term of the bond, the higher interest rate you will receive.

Many bonds will allow you to remove funds early if necessary, but you will usually incur some kind of penalty for doing so. This most often involves forfeiting some of the interest you would otherwise have earned. This means if you are going for a longer term bond, you need to be very confident you will not want to access those savings before the bond reaches maturity.

Compare the best fixed rate bonds

The following link show some of the best fixed rate bond rates on the market currently. Please be aware that interest rates do change over time, so refer to the table above for the latest rates.

Find the best fixed rate bond deals

Placing your savings into a fixed rate bond can be a big commitment, as it means you won’t have easy access to your money if you later need it. With so many different products on the market, it can also be difficult to know which is the best choice for you.

Before making a decision, be sure you know exactly what you want to get out of your bond and be prepared to shop around to find the best deals. Our fixed rate bond comparison tool above is a great way to keep on top of the current most competitive deals.

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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.