Leanne Macardle

Leanne Macardle

Editor
Published: 30/01/2019

At a glance

  • One year fixed rate bonds are a great short-term savings option as rates tend to be higher than on notice and easy access accounts.
  • Most one-year fixed rate bonds do not let you access your money early.
  • The best rates usually offered by smaller providers.
  • All banks and building societies we list are covered by the Financial Services Compensation Scheme (or European equivalent).

What else do I need to know?

When taking out a fixed rate bond, you are making an agreement with the bank or building society that you won't withdraw your cash for a specified period of time – in this instance, it will be for one-year. Most one-year fixed rate bonds will not let you have access to your money once it’s been deposited until the bond matures.

Don’t recognise a fixed rate bond provider?

The recent trend in the one-year fixed rate bond market is for the best rates to be offered by smaller, relatively unknown banks. These are often referred to as challenger banks.

Learn more about challenger banks

Be reassured that all banks and building societies listed by moneyfacts.co.uk must be UK-licensed and part of the Financial Services Compensation Scheme (or an equivalent). This means that you can be safe in the knowledge that the first £85,000 you have saved is protected if the bank or building society were to go bust.

Learn more about depositor protection

Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

money being saved into piggy bank

At a glance

  • One year fixed rate bonds are a great short-term savings option as rates tend to be higher than on notice and easy access accounts.
  • Most one-year fixed rate bonds do not let you access your money early.
  • The best rates usually offered by smaller providers.
  • All banks and building societies we list are covered by the Financial Services Compensation Scheme (or European equivalent).

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