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Savings Accounts News
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How to Guides
- Guide to savings accounts
Read our comprehensive guide to savings account and make your savings accounts work for you.
Fixed-Term Savings Accounts
Fixed-term savings accounts, or bonds, are savings accounts where you commit to leaving your money untouched for a set period of time, usually between one and five years. In return, you will normally receive a very competitive interest rate which will be fixed for the entire agreed term. Read more>
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Scottish Widows 5 Year Fixed Term Deposit AccountOpen to new and existing customers, minimum deposit is £10,000 |
4.6% | 5 years |
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Progressive 4 Year Fixed RateNo access prior to maturity - 11th January 2016 |
4.05% | 4 Years |
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Progressive 4 Year Fixed Rate Cash ISAEarn 0.5% AER / gross variable on any money paid into your account before the start date - 10th Jan 2012 |
4.05% | 4 Years |
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Compare Fixed Term Savings Accounts
Generally speaking, the longer you agree to leave your money untouched, the higher the interest rate you will receive.
Once you have opened your fixed-term savings account, you will not normally be allowed to add to the initial deposit. Therefore, it is worth considering your uppermost savings limit for an account of this type before you open it.
Additionally, once your money is in the account, you will usually have very limited access to it. Most providers will penalise you if you access your money before the term is up. The penalty is usually either a lower interest rate or, in some cases, no interest at all for the month in which the withdrawal was made.
These accounts are great if you have some money which you know you do not need in the near future and to boost some of your long-term savings cash fund. However, they are probably not best for those who are unsure whether they will need their savings soon and at short notice.
Top Tips for Fixed Term Savings Accounts
- Before you invest your money in a fixed term savings account, ask yourself when you will next need your money. If you think it will be soon, then choose an account with more access.
- If you cannot tie your money up for a whole year, there are some very competitive six month bonds around.
- If you choose a six-month bond, be sure to check whether the interest rate is better than that of another type of savings account – it usually will be because higher interest rates are the reward for restricted access.
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.