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This comparison simply includes all savings accounts.

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 5 Years
Interest AER 2.35%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 3 Years
Interest AER 2.20%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Axis Bank
Fixed Rate Bond Axis Bank
Min deposit £1000
Term 5 Years
Interest AER 2.16%

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

Axis Bank
Fixed Rate Bond Axis Bank
Min deposit £1000
Term 3 Years
Interest AER 2.16%

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

Vanquis
Fixed Rate Bond Vanquis
Min deposit £1000
Term 4 Years
Interest AER 2.10%

Why we like it: Minimum deposit £1,000. Interest paid monthly or annually. Apply online. Eligible deposits covered by UK FSCS.

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 2 Years
Interest AER 2.00%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Wyelands Bank
Fixed Rate Bond Wyelands Bank
Min deposit £5000
Term 2 Years
Interest AER 2.00%

Why we like it: Save from £5,000. No withdrawals during the term. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 30 Months
Interest AER 1.85%

Why we like it: 30 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

The Access Bank UK
Fixed Rate Bond The Access Bank UK
Min deposit £5000
Term 1 Year
Interest AER 1.85%

Why we like it: Save from £5,000 to £500,000. No additional deposits or withdrawals permitted. FSCS Protected

Wyelands Bank
Fixed Rate Bond Wyelands Bank
Min deposit £5000
Term 1 Year
Interest AER 1.83%

Why we like it: Save from £5,000. No withdrawals during the term. FSCS Protected

Masthaven Bank
Flexible Term Saver Masthaven Bank
Min deposit £500
Term 18 Months
Interest AER 1.70%

Why we like it: 18 month 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 9 Months
Interest AER 1.30%

Why we like it: 9 month term. Interest can be paid monthly or annually. Minimum deposit £500, Maximum deposit £250,000. No withdrawals permitted. FSCS Protected

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Is a Tesco fixed rate bond right for you?

How do you get the best return on your savings? Depending on how much money you have to invest, you may need to split your funds across several different types of financial products.

For example, a current account will generally give the best rate of interest on relatively small sums of money. Right now, TSB are offering 5% AER on their TSB current account for balances up to £2,000, while Santander pay 1.5% AER up to a limit of £20,000. If your savings exceed the limit on which a current account will pay interest, however, you may need to place the balance into an alternative type of account.

Fixed rate bonds pay interest on much larger amounts of money than most current accounts and the return you get will be set at a pre-agreed level for the life of the bond. Bonds commonly last for 1 year, 2 years, 3 years or 5 years and the longer the bond lasts, the better interest rate you will usually get.

The main drawback is that you won’t usually be able to take any money out of a fixed rate bond until it matures. However, some providers do allow early withdrawals in exchange for a penalty fee. This usually takes the form of a percentage of your interest payments.

If you want to start earning more from your savings, a fixed rate bond can be a fairly straightforward way to do it. You can keep your existing current account when you set up a fixed rate bond, meaning you do not need to change any of your normal banking processes.

Why choose a Tesco fixed rate bond?

Tesco Bank is a British retail bank which is wholly owned by Tesco plc. If you would like to take out a fixed rate bond with Tesco, you will be offered the following benefits:

  • Minimum deposit of £2,000
  • Maximum deposit of £5million
  • Interest can be taken monthly or annually
  • Manage your account online or by phone

Restrictions

If you wish to apply for a Tesco fixed rate bond, please be aware:

  • You must be a UK resident
  • You must be at least 18 years old
  • No additional deposits or withdrawals can be made until your bond matures

Compare Tesco fixed rate bonds

Tesco Bank offer fixed rate bonds with terms from 1-5 years. They also offer cash ISAs as another way to save. Popular competitors include Aldermore, UBL and Vanquis who are worth checking out before making a decision. Please take a look at the fixed rate bond comparison table above for all the most competitive deals we have sourced from across the market.

Getting the best deal on fixed rate bonds

Due to the ever-changing nature of the market and consumer demand, the interest rates and other features that providers offer on their fixed rate bonds rarely stay the same for long. This can present a challenge to anyone looking to invest as it makes it difficult to know which brands and products are currently offering the best deals.

We regularly update the fixed rate bond comparison tool at the top of this page with the most attractive deals we can find from across the industry. This makes it much easier for customers to compare the latest offers and find one that works for them.

When choosing a fixed rate bond to invest in, make sure you know exactly how much money you can afford to invest and what level of return you would like to achieve. This makes it much more likely you will end up with an investment you are happy with in the long run.

Latest news

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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.