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This comparison simply includes all savings accounts.

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 6 Months
Interest AER 1.60%

Why we like it: 6 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 1 Year
Gross AER 2.00%

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.

Axis Bank
Fixed Rate Bond Axis Bank
Min deposit £1000
Term 2 Years
Interest AER 2.24%

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

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 3 Years
Interest AER 2.36%

Why we like it: 3 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 4 Years
Interest AER 2.53%

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

Masthaven Bank
Fixed Rate Bond Masthaven Bank
Min deposit £500
Term 5 Years
Interest AER 2.69%

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

Is a Halifax fixed rate bond right for you?

A savings account will generally offer the highest rate of interest for relatively small amounts of money.

For example, RCI Bank and Post Office presently offer 1.30% on their savings accounts.

Fixed rate bonds allow you to earn a guaranteed rate of interest on your savings up to a much higher threshold than that offered on most savings accounts. These interest rates will be fixed for the life of the bond and should help your savings increase in real world value by the time the bond matures.

The most common types of bonds run for 1 year, 2 years, 3 years or 5 years. In general, you will receive a higher rate of interest the longer you are willing to lock your money away. Some providers allow you to remove funds from your account early, but you will usually have to pay a penalty equivalent to a certain number of months’ interest payments.

If you currently have savings which are not earning you a return, placing them into one or more fixed rate bonds can be a relatively simple way to start getting more from your money. You can keep your existing current account alongside a bond, meaning there should be no consequences for your day-to-day banking.

Why choose a Halifax fixed rate bond?

Halifax operates as a trading division of Bank of Scotland, which is in turn a subsidiary of Lloyds Banking Group. Taking out one of their fixed rate bonds offers the following benefits:

  • Minimum deposit of £500
  • Interest can be paid monthly, annually or at maturity
  • Manage your account online, in branch or by phone

Restrictions

Investing in a Halifax fixed rate bond comes with the following conditions:

  • No withdrawals can be made until the bond reaches maturity (although you can close the account early in exchange for a financial penalty)

Compare Halifax fixed rate bonds

Halifax currently offer 2 year fixed rate bonds as well as a number of cash ISAs. If you are looking to invest over a longer period, or want to achieve a higher rate of return, you may want to consider alternative providers such as Aldermore, UBL or Vanquis.

Getting the best deal on fixed rate bonds

Like all financial products, the interest rates and features offered on fixed rate bonds by different companies change over time. This reflects the constantly shifting market and customer demand. This can make it difficult to keep track of exactly which savings accounts are offering the best value.

Our fixed rate bonds comparison table, above, allows you to easily compare and contrast the most competitive deals currently on the market. This table is frequently updated, so it is well worth checking in regularly to see the latest deals.

Before making a decision, you need to carefully weigh up the level of return you would like to achieve and your financial needs for the foreseeable future. This should allow you to make an informed decision that will work for you in the long term.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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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.