This comparison simply includes all savings accounts.
Savings Accounts For One Year
Why we like it: Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older. No withdrawals permitted
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid annually. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. No withdrawals permitted
Why we like it: Which? Recommended Savings Provider. Save from £1,000 to £250,000. No withdrawals before the end of the term. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Terms and Conditions: 4.45% AER (4.36% Gross p.a.). Offer available until 5pm on 31st July 2024 for new customers and 5th August 2024 for existing customers. Interest paid monthly and on maturity. Sole account only. Maximum deposit £5,000,000.00. Additional payments or withdrawals allowed until 3:30pm on 23/08/2024. After this date partial withdrawals are not allowed. An Early Closure Charge may apply. Must be UK resident, aged 16 or older. Offer can be withdrawn at any time. FSCS protected.
Why we like it: Terms and Conditions: 4.45% AER (4.36% Gross p.a.). Offer available until 5pm on 14th August 2024 for new customers and 19th August 2024 for existing customers. Interest paid monthly and on maturity. Sole account only. Maximum deposit £5,000,000.00. Additional payments or withdrawals allowed until 3:30pm on 06/09/2024. After this date partial withdrawals are not allowed. An Early Closure Charge may apply. Must be UK resident, aged 16 or older. Offer can be withdrawn at any time. FSCS protected.
Is a 1 year fixed rate bond right for you?
1 year fixed rate bonds can be attractive as your money is only locked away for a short period of time. This makes them a good choice if you are planning to use your savings within the next few years. You can earn a return and maintain the value of your funds relative to inflation while still giving you access to your money when you need it.
If you are looking to get a return on a larger sum, using fixed rate bonds are a great means of providing a secure income. They offer a guaranteed return for the life of the bond and let you keep your existing current account while transferring the balance not earning interest into the bond. This makes depositing your money into a bond a relatively simple, hassle-free way to start making your money do more for you, without requiring you to change your day-to-day banking.
