Product focus: Fixed rate savings - Savings - News - Moneyfacts

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Product focus: Fixed rate savings

Product focus: Fixed rate savings

Category: Savings

Updated: 30/07/2010
First Published: 30/07/2010

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 It is now over 6 months old so the content may be out of date.

Savers who wish to invest their money over a long term period can enjoy some of the best rates in the market at the moment. Some fixed rate bonds allow early access to funds, however, this is often subject to penalty such as loss of interest. Here is a selection of the current top five year fixed rate bonds.

AA –Five Year Fixed Rate Savings

This account pays 4.55pc on its anniversary. A monthly interest option is available at 4.46pc. Savers can invest between £1 and £5m and further additions can be made whilst the issue remains open. Early access is allowed, subject to penalty depending on the outstanding term as follows: One year or less, 90 days; one to two years, 180 days; two to three years, 270 days; three to four years, 320 days and four to five years, 365 days. The account can be operated by savers aged 18 and over by post only.

Principality Building Society – Fixed Rate Bond 176

This account from Principality Building Society pays 4.25pc on its anniversary. A monthly interest option is available paying 4.17pc. Savers can invest between £500 and £1m and further additions are allowed whilst the issue remains open. Early access is allowed on closure only, subject to 360 days loss of interest. The account is available to savers of all ages and can be operated in branch and by post.

Northern Rock – Fixed Rate Bond Issue 401

Northern Rock's five year bond pays an annual rate of 4.25pc. A monthly interest option is available at 3.95pc. Savers can invest between £1 and £2m and further additions can be made whilst the issue remains open. Early access is not permitted. The account is available to savers of all ages and can be operated by post only.

Find the best savings rates for you - Compare 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 Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Just 44 savings accounts beat inflation

Inflation recorded another large jump during December, and predictably, this has had a devastating impact on the number of savings accounts that beat it, so much so that you’ll need to lock your money away if you want an inflation-beating return.

Just 47% have money in a savings account

We’re often told of the importance of saving, yet unfortunately, the message doesn’t always get through. Indeed, research shows that just 47% of those surveyed have money in a savings account, and 17% have no savings or investment whatsoever.

How much will you save this year?

Many of us have set savings goals for the year ahead, and planning to budget better and save more will be at the top of many financial resolution lists. But how much are you hoping to squirrel away? Encouragingly, many people have impressive targets.
 
Close