Raisin UK Exclusives

Fixed rate bonds require you to lock your money away for a set period – typically 6 months, 9 months, one year, two years, three years or five years. In return for forgoing access to your cash, you’ll earn a competitive fixed rate of interest that’s guaranteed for the duration of the term. Generally speaking, fixed rate bonds with longer terms tend to pay the highest interest rates.

A fixed rate bond can be a great option if you’re looking for a risk-free way to grow your money over the medium to long term. The best fixed rate bond for you will depend on your savings goals and how long you can afford to lock away your money, so it’s important to compare accounts from different providers.

At Raisin UK, we have an exclusive range of fixed rate bonds with competitive interest rates available through our UK and European partner banks. Find out more about the different terms available below or get in touch with our friendly team today.

A 9 month fixed rate bond is a savings account that pays a guaranteed interest rate for nine months. You’ll need a lump sum deposit to open the account, after which point you won’t be able to access your money until the bond matures. 

The best 9 month fixed rate bond will typically be the one that pays the highest interest rate. However, it’s also important to make sure your deposit is covered by the Financial Services Compensation Scheme or European equivalent (all of our savings accounts come with deposit protection for complete peace of mind).

If you can afford to lock away your cash for a couple of years, you might want to consider whether a 2 year fixed rate bond could work for you. This type of account pays a guaranteed interest rate for two years, although you won’t be able to access your savings during this time (at least not without incurring a penalty). 

The best 2 year fixed rate bond for you will typically be the one that pays the highest rate and comes with deposit protection. You’ll also need to check whether the minimum and maximum opening deposits suit your needs.

Ideal for long-term savings goals, 5 year fixed rate bonds allow you to earn a competitive interest rate that’s guaranteed for five years. This means the rate will stay the same for the whole term, even if there are changes to the Bank of England base rate. 

It’s important to remember that you may not be able to access your money during the five-year term, so you’ll need to be confident you can afford to lock away your savings (our budget planner can help you decide whether it’s a viable option). If a 5 year bond is too much of a stretch, you may want to think about opting for a two or three year fixed rate bond instead.

Unlike fixed rate bonds and notice accounts, easy access savings accounts give you the flexibility to top up and withdraw money at your convenience. They can be a good option if you want to start an emergency fund because they have minimal restrictions (some accounts impose a limit on the number of withdrawals you can make, so do check the small print). 

Although easy access savings accounts tend to pay lower interest rates than some other types of accounts, there are plenty of competitive rates available if you’re prepared to look beyond the high street banks.

To find the best easy access savings account for you, it’s important to compare a range of accounts from across the market. As a rule of thumb, the best easy access savings account will typically be the one that pays the highest interest rate and has terms that work for you and your savings requirements. You can compare Raisin exclusive easy access savings accounts at the top of this page or click on the link below to find out more.