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Product focus: Two year fixed rate accounts

Product focus: Two year fixed rate accounts

Category: Mortgages

Updated: 10/03/2010
First Published: 10/03/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Recent research by has shown that the majority of savers are looking for a fixed rate account of no more than two years. However, bonds of four and five years continue to offer the better rates, leaving savers in a predicament as to where the best place to put their money is. For those looking for the best short term deals, here are the current top three accounts fixed for two years and requiring a minimum investment of £1,000 or less.

ICICI Bank UK – HiSAVE Fixed Rate Account

This online only account pays a rate of 4.10pc on its anniversary. A minimum investment of £1,000 is required although there is no maximum deposit amount. Savers are not allowed to access funds early or make further additions while the issue is open. A HiSAVE savings account will be automatically opened for administration of maturity proceeds. Savers must be aged 18 and over.

Post Office – Growth Bond Issue 11

The Post Office's Growth Bond Issue 11 pays a rate of 4.05pc on its anniversary. Savers can invest between £500 and £1m but no further additions are allowed. Early access is permitted on account closure only, subject to a breakage charge which is calculated and advised to savers when they request the withdrawal of funds. The account can be operated in branch, by post, telephone or online and can be opened by an adult for a child. Savers must be aged 16 and over.

Bank of Cyprus UK – Bank of Cyprus UK Bond 84

This account pays a rate of 3.95pc on its anniversary. Savers can invest between £1 and £10m. Further additions and early access to funds are not allowed. The account can be operated in branch, by post, telephone or online by savers of all ages.

Find the best savings accounts for you - Compare medium fixed rate bonds or short term fixed rate bonds and take a look at our best sellers savings accounts

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

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