Locking your money away for up for a long period can be a great way to achieve the most competitive rate of return on your savings.
As with many fixed-rate savings products, these bonds will often prohibit early withdrawals, so you must be willing to tie up your savings for the duration of the term.
With the savings market changing on a regular basis, it is always wise to check out our best buy tables regularly.
Skipton Building Society Limited Edition Fixed Rate Branch Bond
Penny says… "Skipton Building Society has taken the long-term bond market by storm with the launch of this market-leading seven-year account for savers with investments of £500 and over.
"Paying competitive rates of return both annually and on a monthly basis, this branch-based bond should attract a fair amount of interest, although savers must be willing to leave their money untouched for the duration of the term."
FirstSave 5 Year Fixed Rate Bond 2nd Issue
Penny says… "Sitting in second place in the long-term bond market is this deal from FirstSave paying highly competitive annual and monthly rates of return.
"Savers looking to receive interest on a monthly basis must be aware that a higher investment of £5,000 is required and that further additions are not permitted whilst the issue is open."
Shawbrook Bank 5 Year Fixed Rate Bond Issue 7
Penny says… "Savers with larger deposits of £5,000 and over will be pleased with this attractive bond from Shawbrook Bank.
"Early access to funds is not permitted, however, so savers must be prepared to tie their money up for the duration of the five-year term."
Secure Trust Bank Fixed Rate Bond 5 Year Term (Series 5)
Penny says… "Sitting in fourth place is this five-year bond available to savers with £1,000.
"As further additions can not be made whilst the issue is open, savers would be wise to invest as much as possible initially."
Virgin Money Fixed Rate E-Bond Issue 46
Penny says… "This bond squeezes into the top five of the market with an annual rate of 2.75% paid on 20.7.2018.
"Savers must be prepared to tie their money up for the duration of the five-year term as early access to funds is prohibited." Information & Rates correct as at: 17/07/2013
Compare the best savings rates 4 & 5 year fixed rate bonds Savings guides
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 Any products featured may be withdrawn by their provider or changed at any time.
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