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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

Zenith Bank UK
Fixed Rate Bond Zenith Bank UK
Min deposit £1000
Term 2 Years
Interest AER 1.42%

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

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.

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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.