Coronavirus - Get the latest updates and resources from MyWalletHero - Find out more.
Advertiser Disclosure

1 Year Fixed Rate Bonds

Updated: 6th November 2020

If you’re able to put your money away for 12 months, a 1 year fixed rate bond could offer you a higher interest rate than a typical current account or easy access savings account.


Offers from our affiliate partners appear first and are ordered from highest rating to lowest, followed by other top-rated offers. You can read more about our ratings and page sort here. Offers from affiliate partners are marked with *

 

Here are MyWalletHero’s picks for the fixed rate bonds:

Great for: Competitive rates for fixed annual or monthly interest
4.5 stars question mark
Ford Money logo
  • Interest Rate (AER):

    1.15%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £500

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £2,000,000
  • Deposit must be made within 14 days of opening – but can be done via an unlimited number of payments
  • Can be opened as a single or joint account
  • Choice of annual or monthly interest payments

what we like

  • Highly competitive interest rate
  • Choice of annual or monthly interest payments
  • Unlimited deposits within the first 14 days – from £500 up to £2 million

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £2,000,000
  • Deposit must be made within 14 days of opening – but can be done via an unlimited number of payments
  • Can be opened as a single or joint account
  • Choice of annual or monthly interest payments

DISCLAIMER

Great for: Competitive fixed rate interest
4.5 stars question mark
Paragon logo
  • Interest Rate (AER):

    0.80%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1,000
  • Account Maximum:

    £500,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum total balance £500,000
  • Your total sum must be deposited within 28 days of application - via one payment
  • Can be opened as a single or joint account
  • Interest can be paid monthly or annually

what we like

  • Can be opened as a single or joint account
  • Offers monthly or annual interest payments
  • Competitive interest rate

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum total balance £500,000
  • Your total sum must be deposited within 28 days of application - via one payment
  • Can be opened as a single or joint account
  • Interest can be paid monthly or annually

DISCLAIMER

Great for: Competitive fixed rate interest
4 stars question mark
Saga logo
  • Interest Rate (AER):

    0.50%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1
  • Account Maximum:

    £100,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £100,000
  • Deposit must be made within 14 days of opening, but can be done via unlimited payments
  • It's possible to close the account and access funds early (a fee applies)

what we like

  • Competitive interest rate
  • You can close account early (a fee applies)
  • Allows multiple deposits within the first 14 days

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £100,000
  • Deposit must be made within 14 days of opening, but can be done via unlimited payments
  • It's possible to close the account and access funds early (a fee applies)

DISCLAIMER

Great for: Competitive fixed rate interest
4 stars question mark
Aldermore logo
  • Interest Rate (AER):

    0.75%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum total balance £1,000,000
  • Deposit must be made within 14 days of opening, but that can be done via unlimited payments
  • Can be opened as a single or joint account
  • Interest can be paid monthly (1.34%) or annually (1.35%)

what we like

  • Unlimited deposit payments in first 14 days of opening (up to £1 million)
  • Choice of monthly or annual interest payments
  • Competitive interest rate

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum total balance £1,000,000
  • Deposit must be made within 14 days of opening, but that can be done via unlimited payments
  • Can be opened as a single or joint account
  • Interest can be paid monthly (1.34%) or annually (1.35%)

DISCLAIMER

Great for: Competitive fixed rate interest
3.5 stars question mark
RCI Bank logo
  • Interest Rate (AER):

    0.60%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1,000
  • Account Maximum:

    £1,000,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

    • Minimum deposit £1,000
    • Maximum total balance £1,000,000
    • Deposit must be made within 14 days of opening, but can be done via unlimited payments
    • Annual or monthly interest options available

 

  •  

 

what we like

  • Competitive interest rate
  • Unlimited deposit payments with the first 14 days of opening
  • Option for annual or monthly interest payments

WHAT YOU NEED TO KNOW

    • Minimum deposit £1,000
    • Maximum total balance £1,000,000
    • Deposit must be made within 14 days of opening, but can be done via unlimited payments
    • Annual or monthly interest options available

 

  •  

 

DISCLAIMER

Great for: Competitive fixed rate interest
3 stars question mark
Vanquis Bank Savings logo
  • Interest Rate (AER):

    0.44%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1,000
  • Account Maximum:

    £250,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

    • Minimum deposit £1,000
    • Maximum total balance £250,000
    • Open as a sole or joint account
    • Deposit must be made within 30 days of opening via a single payment
    • Annual or monthly interest options available

 

  •  

 

what we like

  • Competitive interest rate
  • Annual or monthly interest options
  • Sole or joint accounts

WHAT YOU NEED TO KNOW

    • Minimum deposit £1,000
    • Maximum total balance £250,000
    • Open as a sole or joint account
    • Deposit must be made within 30 days of opening via a single payment
    • Annual or monthly interest options available

 

  •  

 

DISCLAIMER