Terms and Conditions: Earn 4.75% AER (4.65% Gross p.a.). NatWest’s Fixed Term Savings Rates are 4.15% AER/4.07% Gross p.a.) fixed for 1 year and 4.75% AER/4.65% Gross p.a.) fixed for 2 years. Offer available until 5pm on 2nd September 2026 for new customers and 7th September 2026 for existing customers. Please be aware that this offer can be withdrawn at any time due to limited availability. Interest is paid monthly and on maturity. This account is for sole applicants only and cannot be opened in joint names. Minimum deposit £1. Maximum deposit £99,999. You can make additional payments or withdrawals from your account until 3:30pm on 21st September 2026. After this date partial withdrawals are not allowed. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving 35 days’ written notice to your branch. Early Closure Charge may apply. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. Interest will automatically be paid into your Fixed Term Savings Account. You can choose to have interest paid into another Nominated Account. This must be a NatWest personal current or savings account with instant access (other than a cash ISA) held in your name at the same branch as your Fixed Term Savings Account. If interest is paid into your Nominated Account, you can access it the following day. You must be 16 or over and a UK resident. FSCS protected.
Details
Interest Paid
Monthly
Maximum Balance
£99,000
Minimum Age
16
UK Resident
Yes
2 Year Fixed Rate Bond - Tier 1
Interest AER4.75%
Min deposit£1
Term2 Years
2 Year Fixed Rate Bond - Tier 1Royal Bank of Scotland
Terms and Conditions: Earn 4.75% AER (4.65% Gross p.a.). Royal Bank of Scotland's Fixed Term Savings Rates are 4.15% AER/4.07% Gross p.a.) fixed for 1 year and 4.75% AER/4.65% Gross p.a.) fixed for 2 years. Offer available until 5pm on 2nd September 2026 for new customers and 7th September 2026 for existing customers. Please be aware that this offer can be withdrawn at any time due to limited availability. Interest is paid monthly and on maturity. This account is for sole applicants only and cannot be opened in joint names. Minimum deposit £1. Maximum deposit £99,999. You can make additional payments or withdrawals from your account until 3:30pm on 21st September 2026. After this date partial withdrawals are not allowed. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving 35 days’ written notice to your branch. Early Closure Charge may apply. The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest. Interest will automatically be paid into your Fixed Term Savings Account. You can choose to have interest paid into another Nominated Account. This must be a Royal Bank of Scotland personal current or savings account with instant access (other than a cash ISA) held in your name at the same branch as your Fixed Term Savings Account. If interest is paid into your Nominated Account, you can access it the following day. You must be 16 or over and a UK resident. FSCS protected.
Fixed rate bonds offer the opportunity to receive rates higher interest in exchange for tying up your savings for a prolonged period of time. Most banks offer a range of fixed rate bonds, usually from 1 year, 2 years, 3 years or 5 years. It should be noted that longer fixed rate bonds offer the highest interest.
The government introduced a bespoke type of fixed rate bond in January 2015, which was specifically designed for those over 65. This special fixed rate bond, often referred to as the pensioner bond, was provided as an attempt to encourage more people to save money for their retirement. T
The pensioner bond had a minimum deposit of £500 and a maximum deposit of £10,000. The bond was rigid with its terms and conditions, as there was no cooling off period at the beginning of the bond. Unlike other fixed rate bonds, where you are sometimes offered a short period of time at the beginning of the fixed term to change your deposit, with the pensioner bond the decision to deposit your money was final. If you wanted to withdraw any savings from the fixed rate bond within the fixed term, you incurred a penalty equal to 90 days’ of interest.
No more pensioner fixed rate bonds
The pensioner fixed rate bond is no longer available. Therefore, if you receive a pension and you wish to put some money aside in a fixed rate bond then you should consider the other bonds on the market.
Fixed rate bonds available
A summary of the best fixed rate bonds are found in the table above. However, it is important to bear in mind that if you deposit your savings into a fixed rate bond, you will not be able to make a withdrawal until maturity. Although there are some banks that allow early withdrawals, they will usually need written notice and they will often charge a potentially large penalty.
