Long term fixed rate bonds pay some of the highest rates of return in the savings market, many over 4.00pc. Reward tends to be high for these accounts as savers must be willing to lock cash away for around four to five years. Penalties for accessing funds early can range from loss of interest to account closure. Here are the current top five year products.
This account pays a rate of 4.80pc on its anniversary. Savers can invest between £500 and £1m and further additions are allowed while the issue is open. Early access is allowed on account 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.
Aldermore's five year bond pays a rate of 4.80pc on its anniversary. Investments range between £1,000 and £1m. Further additions and early access are not permitted. Savers must be aged 18 and over. The account can be operated by post, telephone or online.
This account pays an annual rate of 4.70pc. Investments of between £100 and £2m can be made and further additions are allowed while the issue is open. No early access is allowed. On maturity the account transfers to the Online Saver account. Savers must be aged 16 and over and, as the name suggests, can be operated online only.
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 Any products featured may be withdrawn by their provider or changed at any time.
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