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Product focus: Long term fixed rate bonds

Product focus: Long term fixed rate bonds

Category: Savings

Updated: 05/03/2010
First Published: 05/03/2010

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 It is now over 6 months old so the content may be out of date.

Long term fixed rate bonds are ideal for savers looking to lock away funds for at least four to five years.

These accounts tend to pay a higher rate of return compared to their short term counterparts and often require a sizeable initial deposit.

Here are the current top four year fixed rate accounts .

ICICI Bank UK – HiSAVE Fixed Rate Account



This online only account pays a rate of 4.50% on anniversary. Savers can make deposits of £1,000 or more. Early access and further additions are not allowed. A HiSAVE savings account is automatically opened for administration of maturity proceeds. Savers must be aged 18 and over.

Halifax – Web Saver



The Web Saver account pays a rate of 4.50% on its anniversary. Savers can invest between £500 and £9 million. Further additions and early access are not permitted. Savers must have or open a variable rate Web Saver account. The account can be operated online only by savers of all ages.

Birmingham Midshires – 4 Year Fixed Rate Bond



This account pays a rate of 4.50% on its anniversary. Savers can invest between £1 and £10 million and further additions can be made while the issue is open. Early access is allowed, subject to loss of interest, depending on the remaining term outstanding, as follows; for up to four years, 320 days; up to three years, 270 days; up to two years, 180 days; one year or less, 90 days. The account can be operated by post only, although application can be made online or by telephone.

Find the best savings accounts for you - Compare long term fixed rate bonds

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 Any products featured may be withdrawn by their provider or changed at any time.

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