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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 Lloyds fixed rate bond right for you?

How can you tell if you are getting the best possible deal on your savings? If you would like to earn the highest available interest rate, a savings account will usually offer this, for example RCI Bank and Post Office presently offer 1.30% on their savings accounts.

It should be noted that interest in savings accounts is only paid up to a certain deposit threshold You will generally earn no interest on any balance above this threshold. In addition, the majority of savings accounts come with a limit to the amount you can deposit. 

Fixed rate bonds allow you to earn a guaranteed rate of interest for the life of the bond, which will most commonly be 1 year, 2 years, 3 years or 5 years. The longer the bond lasts for, the higher the interest rate you will usually be offered.

Putting your savings into a fixed rate bond means you won’t usually be able to use that money for anything else until the bond matures. However, some providers do allow you to remove funds early, in exchange for a financial penalty.

If you are not earning money on your savings then their real world value is likely to be decreasing due to the impact of inflation. Putting your cash into one or more fixed rate bonds can prevent this and should result in the buying power of your savings increasing by the time your bond matures

Why choose a Lloyds fixed rate bond?

Lloyds Banking Group is one of the UK’s biggest and best known financial institutions. They offer the following benefits with their fixed rate bonds:

  • Minimum deposit of £2,000
  • Maximum deposit of £1million
  • Interest can be paid monthly, annually or when your bond matures
  • Manage your account by phone and in branch

Restrictions

When taking out a fixed rate bond with Lloyds, please be aware of the following:

  • You must be at least 16 years old
  • You must be a UK resident
  • No early withdrawals are permitted

Compare Lloyds fixed rate bonds

Lloyds currently offer 2 year fixed rate bonds to their customers. If you would like to take out a bond over a longer period in order to earn a better rate of interest, please take a look at other providers such as Aldermore, UBL and Vanquis.

Getting the best deal on fixed rate bonds

Interest rates and other conditions on savings accounts, including fixed rate bonds, change regularly to reflect shifts in market conditions and customer demand. This can make it hard for consumers to keep up with which brands and products are currently offering the best value.

Using our fixed rate bond comparison tool above, you can quickly and easily see which products represent the best deal for you. We frequently update these deals with the most competitive offers we can find to save you the trouble of manually comparing different brands and their products.

Before making an investment into a fixed rate bond, you need to be confident you are making a choice you will be happy with for the full term of the account. To achieve this, make sure you carefully reflect on the return you would like to see and your existing financial commitments and any that are likely to arise in the foreseeable future.

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.