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Fixed Rate Savings Accounts

Shawbrook Bank

7 Year Fixed Rate Cash ISA Bond
FSCS
Shawbrook Bank

£1,000

Open with

7 years

Term

 

Shawbrook Bank

5 Year Fixed Rate Bond Issue 32
FSCS
Shawbrook Bank

£1,000

Open with

5 years

Term

 

Shawbrook Bank

3 Year Fixed Rate Bond Issue 49
FSCS
Shawbrook Bank

£1,000

Open with

3 years

Term

 

Shawbrook Bank

5 Year Fixed Rate Cash ISA Bond
FSCS
Shawbrook Bank

£1,000 to £250,000

Open with

5 years

Term

 

Shawbrook Bank

2 Year Fixed Rate Bond Issue 62
FSCS
Shawbrook Bank

£1,000

Open with

2 years

Term

 

Shawbrook Bank

18 Month Fixed Rate Bond Issue 20
FSCS
Shawbrook Bank

£1,000

Open with

18 months

Term

 

Shawbrook Bank

3 Year Fixed Rate Cash ISA Bond
FSCS
Shawbrook Bank

£1,000 to £250,000

Open with

3 years

Term

 

Shawbrook Bank

2 Year Fixed Rate Cash ISA Bond
FSCS
Shawbrook Bank

£1,000 to £250,000

Open with

2 years

Term

 

Shawbrook Bank

1 Year Fixed Rate Cash ISA Bond
FSCS
Shawbrook Bank

£1,000 to £250,000

Open with

1 year

Term

 
  • Savings & Investments
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  • Compare Fixed Rate Savings Accounts

    Opening a fixed rate savings account allows you to plan ahead with a secure place to keep your savings for the future. It could be that you plan to isolate your savings for a year, or even up to 5 years, so putting it into a savings account will mean you earn interest on top, giving you a bonus at the end of that period.

    Saving in this way means you can put money aside for a future project, whether it is for a home deposit, home improvement or any other significant purchase. If anything, if you plan on keeping an amount of money secure over a number of years and not spending it, it might be best off being in a savings account to earn interest.

    What is a fixed rate savings account?

    A fixed rate savings account is an account allowing you to earn interest for a fixed rate period, such as 1 year, 3 years or 5 years. If you deposit a lump sum at the start, you can then calculate how much you will earn from interest over the course of that fixed rate period, watching your savings grow.

    Since it’s a fixed rate, it also means that you should not withdraw your savings before the period is over. If you do, you will have to pay fees in order to release your savings, so it is always preferable to keep your funds untouched until the end of the period to avoid any fees.

    How does a fixed rate savings account work?

    • Deposit a lump sum at the start
    • Earn interest on that sum over a fixed period
    • Interest rate is usually higher for longer fixed rate period accounts
    • Withdrawing funds before the fixed rate period is over will incur fees

    This type of savings account works by putting your money away for a certain period of time to earn interest. If you just deposit a lump sum, you can even calculate exactly how much you will earn during the fixed rate period.

    You can also deposit more funds but they will only earn interest from the date of deposit, so will top up your interest payment by the end of the fixed rate period. You can withdraw your savings, but if you do this prior to the end of the fixed rate period, you will have to pay fees.

    How to open a fixed rate savings account

    If you choose to open a fixed rate savings account, you should be able to open it online, as long as you can provide personal details requested by the provider. You may also be credit checked in some circumstances, especially for accounts with higher interest rates.

    Watch out for the following details when applying for a fixed rate savings account:

    • Fixed rate period – the longer the period, the more you will earn from interest
    • Interest rate – if you choose a longer period you will usually get a higher interest rate
    • Minimum and maximum deposit amounts – check how much you can deposit initially and every month from then on
    • Early withdrawal fees – find out how much you will have to pay if you do have withdraw your savings early

    Check out our comparison tables and watch out for the above points to find out which account might be best for your purposes.

    Who we work with

    We work with a number of providers to deliver a wide selection of savings accounts for you to choose from, enabling you to find the best option for you, whether it’s a cash ISA, investment ISA, peer-to-peer savings account or otherwise.

    Each of our providers are screened to make sure they meet our high standards before we agree to work with them. This ensures that you can trust them as much as we do, allowing you to find the best savings product from a reputable source.

    You can find out more about our lenders and providers here

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