Guide to fixed-rate bonds

1. Best Fixed Rate Savings Account
2. Best Fixed Rate Savings Uk
3. Best Fixed Interest Rates Savings
4. Best Fixed Rate Savings Uk

Here are the best savings account interest rates for February 2021. Synchrony Financial, APY: 0.55%, Min. Balance: $0; Marcus by Goldman Sachs, APY: 0.50%, Min. Money Compare rounds up the best fixed-rate savings accounts, offering higher interest rates for those prepared to lock up their cash for longer. If you’ve got a lump sum you’re happy to put away and not touch for a while, a fixed-rate bond can be a great idea. They’re ideal for savers looking for a low-risk, low-maintenance investment. Fixed-rate bonds are usually suitable for people with a lump sum to invest. In fact, quite often they have a high minimum amount needed to open an account. It's typically between £1,000 and £2,000, and there may be a maximum deposit, perhaps £500,000. Check the small print on your paperwork to make sure it's suitable for you.

Banks and building societies want you to invest your cash in their savings accounts, which is why they pay you interest.

But with a normal, easy-access account the bank or building society doesn't have any security - you can withdraw your money whenever you like.

That's why they're happy to pay a little bit more to savers using fixed-rate bonds.

These are accounts where you agree in advance not to touch your cash for a set time, typically between six months and five years.

Best Fixed Rate Savings Account

In return for your money for a guaranteed time, the account provider guarantees you a fixed rate of interest.

That means that, whether rates fall or rise elsewhere, you'll continue to get the amount you agreed.

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Best Fixed Rate Savings Uk

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Best Fixed Interest Rates Savings

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Best Fixed Rate Savings Uk

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