NEW! Our Hero’s Journey tool can help you with your next step towards financial freedom - click here to try now.
Advertiser Disclosure

1 Year Fixed Rate Bonds

Updated: 26th March 2021

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 fixed rate interest
5 stars question mark
Saga logo
  • Interest Rate (AER):

    0.40%
  • 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
5 stars question mark
Paragon logo
  • Interest Rate (AER):

    0.55%
  • 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
4.5 stars question mark
Marcus by Goldman Sachs
  • Interest Rate (AER):

    0.40%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £1

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £250,000
  • Deposit must be made within 14 days of opening -- but can be done via unlimited payments
  • Funds can be accessed early by closing the account (a fee applies)
  • Interest calculated daily, and paid annually

what we like

  • Competitive interest rate
  • Allows multiple deposits within the first 14 days
  • Funds can be accessed early by closing the account (a fee applies)

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £250,000
  • Deposit must be made within 14 days of opening -- but can be done via unlimited payments
  • Funds can be accessed early by closing the account (a fee applies)
  • Interest calculated daily, and paid annually

DISCLAIMER

Great for: savers looking for a competitive fixed interest rate
4.5 stars question mark
Ford Money logo
  • Interest Rate (AER):

    0.47%
  • Account Type:

    1 Year Fixed Rate
  • Account Minimum:

    £500
  • Account Maximum:

    £2,000,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • The minimum deposit is £500
  • The maximum account balance £2,000,000
  • Can be opened as a joint or single account
  • There’s a choice of monthly or annual interest payments
  • Unlimited deposits are okay but only within the first 14 days of opening
  • After 14 days, your money is locked away for the full term

what we like

  • Competitive interest rates
  • Unlimited deposits for the first 14 days, from £500 up to £2,000,000
  • Your choice of annual or monthly interest payments

WHAT YOU NEED TO KNOW

  • The minimum deposit is £500
  • The maximum account balance £2,000,000
  • Can be opened as a joint or single account
  • There’s a choice of monthly or annual interest payments
  • Unlimited deposits are okay but only within the first 14 days of opening
  • After 14 days, your money is locked away for the full term

DISCLAIMER

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

    0.15%
  • 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

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

    0.40%
  • 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