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This comparison simply includes all savings accounts.

Milestone Savings
Fixed Rate Bond Milestone Savings
Min deposit £10000
Term 5 Years
Expected Profit Rate 2.37%

Why we like it: Interest paid annually. Open an account singly or jointly. Minimum deposit £10,000. No withdrawals permitted. Shariah compliant savings account. FSCS Protected

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 5 Years
Interest AER 2.30%

Why we like it: 5 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 3 Years
Interest AER 2.25%

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

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 4 Years
Interest AER 2.23%

Why we like it: 4 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Axis Bank
Fixed Rate Bond Axis Bank
Min deposit £1000
Term 3 Years
Interest AER 2.16%

Why we like it: Interest can be paid monthly, quarterly or at maturity - Minimum deposit £1,000 - Maximum deposit £200,000 - No withdrawals permitted - FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.05%

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

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 2 Years
Interest AER 2.00%

Why we like it: 2 year term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 1.85%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 2 Years
Gross AER 1.85%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.80%

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

Ford Money
Fixed Saver Ford Money
Min deposit £500
Term 1 Year
Gross AER 1.70%

Why we like it: Minimum deposit £500. Open an account singly or jointly. Interest can be paid monthly or annually. Eligible deposits covered by UK FSCS.

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 18 Months
Interest AER 1.70%

Why we like it: 18 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

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Is a Britannia fixed rate bond right for you?

Fixed rate bonds, like those offered by Britannia, are ideal for anyone wanting to earn interest on a large sum of money.

For smaller sums a current account may be a better choice as these generally offer a higher rate of interest, but only up to a certain limit. Right now, TSB are offering 5% AER on their TSB current account for balances up to £2,000, while Santander pay 1.5% AER up to a limit of £20,000.

If your savings are greater than the interest ceiling on your current account, however, a fixed rate bond can be a great choice. You can simply transfer the portion of your current account balance not earning interest into one or more fixed rate bonds and start earning interest on all of your savings.

Fixed rates bonds provide a reliable rate of interest for the life of the bond which can help maintain the value of your savings relative to inflation. In most cases, the real world value of your savings will increase once your bond matures.

The most popular fixed rate bonds run for 1 year, 2 years, 3 years or 5 years, while some providers also offer 30 month and 4 year bonds. The longer the term of the bond, the higher the interest rate it will usually provide. While some providers allow you to withdraw money from your bond before it reaches maturity, you will usually be penalised by losing some of your expected interest payments.

Transferring some of your savings into a fixed rate bond is a relatively simple process which allows you to keep your existing current account, thus avoiding any issues with your day-to-day banking.

Why choose a Britannia fixed rate bond?

Formerly a mutual building society, Britannia is now a trading name of the Co-operative Bank in the UK following a merger in 2009.

A Britannia fixed rate bond offers the following to customers:

  • Minimum deposit of £1,000
  • Maximum deposit of £1million
  • Accounts can be accessed at a branch or by post
  • Interest can be paid monthly, annually or when your bond matures

Restrictions

Britannia fixed rate bonds are subject to the following conditions:

  • You must be a UK resident
  • No withdrawals can be made until the bond reaches maturity

Compare Britannia fixed rate bonds

Britannia currently offer 1, 2 or 3 year fixed rate bonds. If you are looking for a bond with a longer term to take advantage of the higher interest rates these usually offer, you may want to take a look at alternative providers such as Aldermore, UBL or Vanquis.

Getting the best deal on fixed rate bonds

Interest rates and other features of fixed rate bonds change regularly to reflect shifts in the market and consumer demand. As a result, the providers and products offering the best deals vary over time. This can make it difficult for customers to know which fixed rate bond will offer them the best return while matching their other personal requirements.

We regularly update the comparison table at the top of this page with the current best deals on fixed rate bonds from across the market. This makes it much easier for you to stay on top of all the latest opportunities to get more from your savings.

Before choosing a fixed rate bond, make sure to spend some time carefully considering what you want to get out of your bond as well as your exact circumstances. Doing this should ensure you can find the best deal for you.

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

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