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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 Post Office fixed rate bond right for you?

Which financial product will offer you the best return usually depends on how much money you have to invest. You will usually get a better interest rate from a savings account for smaller amounts of money. For example, RCI Bank and Post Office presently offer 1.30% on their savings accounts. Typically, with a savings account, there is generally quite a low cut off point above which no interest will be paid or there is a limit on the maximum deposit you can make.

With a fixed rate bond, you will get a guaranteed rate of interest for the term of the bond. The maximum deposit for a fixed rate bond is usually much higher than that on which a savings account will pay interest and the longer the bond is for, the better interest rate you will normally be offered.

Common types of bonds tend to last for 1 year, 2 years, 3 years or 5 years. You may be allowed to withdraw money or close your account early, but this will generally result in a penalty calculated as a percentage of the interest you would normally earn.

Fixed rate bonds can be set up alongside your current account, allowing you to start earning interest on all of your savings without disrupting your day-to-day banking. This makes them a highly convenient way to start getting a better return on your money.

Why choose a Post Office fixed rate bond?

Post Office Ltd is a retail business owned by the UK government’s Department for Business, Innovation and Skills. Taking out one of their fixed rate bonds has the following advantages:

  • Minimum deposit of £500
  • Maximum deposit of £1million – £2million depending on the type of bond
  • Interest can be paid monthly or annually depending on the type of bond
  • Manage your account online, in branch or by post depending on the type of bond

Compare Post Office fixed rate bonds

The Post Office offers two main times of bonds: Online Bonds and Growth Bonds, as well as a number of cash ISAs. The standard fixed term of interest they offer is 1 year, so, if you are looking for a longer term investment to achieve a higher interest rate, you may need to look at other providers such as Aldermore, UBL or Vanquis.

Getting the best deal on fixed rate bonds

Interest rates and other features offered on any company’s fixed rate bonds are liable to change regularly. This is due to constant shifts in the market and consumer demand. As a result, it can be hard for customers to keep track of who is offering the best deal for them at any given moment.

Our fixed rate bond comparison table at the top of this page shows the most attractive deals from across the market currently available. We frequently update these results with the best offers we can find, so make sure to check back regularly.

Investing in a fixed rate bond is a serious commitment as you will be locking your savings away until the bond matures. Make sure to carefully assess your own financial situation and the return you would like to see before making a choice.

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.

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