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This comparison simply includes all savings accounts.

Investec Savings
Fixed Rate Bond Investec Savings
Min deposit £5000
Term 1 Year
Interest AER 1.33%

Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must be UK resident, have a UK address and be aged 18 or older. No withdrawals permitted. Can’t have held an Investec Online Flexi Saver or Fixed Rate Saver in the last 12 months

Oak North
Fixed Rate Bond Oak North
Min deposit £1000
Term 1 Year
Interest AER 1.23%

Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. 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 2 Years
Interest AER 1.50%

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

Charter Savings Bank
Fixed Rate Bond Charter Savings Bank
Min deposit £1000
Term 2 Years
Interest AER 1.41%

Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. 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 3 Years
Interest AER 1.77%

Why we like it: Market leading 3 year fixed rate bond. Register for a free Raisin UK Account to apply for product and receive a cash bonus. 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 3 Years
Interest AER 1.75%

Why we like it: Register for a free Raisin UK Account to apply for product and receive a cash bonus. 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 4 Years
Interest AER 1.50%

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

Aldermore
Fixed Rate Bond Aldermore
Min deposit £1000
Term 4 Years
Interest AER 1.45%

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

QIB UK Bank
Fixed Rate Bond QIB UK Bank
Min deposit £1000
Term 5 Years
Interest AER 2.00%

Why we like it: Market leading 5 year fixed rate bond. Register for a free Raisin UK Account to apply for product and receive a cash bonus. 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 5 Years
Interest AER 1.58%

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

Fixed rate bonds for clubs

Whether you have a social club, sports club or any other group activity that requires funding, you will usually rely on the fees from your members for financial support.

If you want to see your club’s membership fees work harder for you, you could deposit some of the club’s capital into a fixed rate bond.

Fixed rate bonds features

You could see some significant growth in your club’s capital if you are prepared to lock up your money in a fixed rate bond. This is because fixed rate bonds offer some of the best interest available, in comparison to rates offered with current or savings accounts.

You can get a fixed rate bond from most high street banks or building societies, as they typically offer fixed rate bonds that run for  1 year2 years3 years or 5 years. If you are happy with tying up your capital for a number of years you could receive some substantial interest, as often the higher rates of interest are reserved for the longer fixed rate bonds.

Restricted access

If you decide to take out a fixed rate bond, you need to be certain that you will not need to withdraw the capital for the duration of the term.  Some providers do allow a “cooling period”, where you can amend your deposit, but after that you will not be able to touch your capital.

In the event that you do need to withdraw the capital from the fixed rate bond, or close the bond early, you will likely incur a penalty from the bank; this could be costly, as penalties are often calculated as a number of days’ interest and may reduce your capital significantly.

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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.