Fixed rate savings accounts
Lock your money away with no access. Get a guaranteed interest rate that won't change.
What is a fixed rate savings account?
It's a type of savings account that locks your money away, usually for 1-5 years. This means you cannot take money out during that time. So, it could be helpful for longer-term goals, as it stops you from spending your money early.
You can only add money for a short amount of time when you first open the account. So it's suitable for a one-off payment.
In return for leaving your savings to grow for a set time, you get a guaranteed interest rate. This means it will not change and you'll know exactly how much interest you will earn.
We offer 2 types of fixed rate savings: fixed rate cash ISAs and fixed rate bonds.
What's the difference between a fixed rate cash ISA and a fixed rate bond?
Fixed rate cash ISAs
These are tax-free which means you do not pay income tax on the interest you earn.
You can only save up to the ISA allowance each tax year.
You will lose interest if you close your account early.
Fixed rate bonds
You may need to pay tax on the interest you earn. It depends on your personal circumstances.
You can pay in more than the ISA allowance.
You cannot close your account early.
Is a fixed rate savings account right for me?
It might be right for you if:
It's not right for you if:
The content on this page is for reference. It is not financial advice.
Looking for a different way to save?
All our savings accounts
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Our short guide explains the difference between easy access accounts, ISAs and bonds.
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