Compare fixed rate bonds

cahoot 1 Year Fixed Rate Bond (issue 3)

This account pays a market-leading 3.60% annual interest fixed for a year.

However, you need a hefty minimum deposit of £25,000 to be eligible for this account, so it won’t suit smaller savers. You can invest a total of £2 million in the bond, but if you are planning on paying in a large lump sum, remember that only the first £85,000 is protected by the Financial Services Compensation Scheme.

You must be certain you can afford to tie up your money for a year, as no withdrawals are permitted during the account term. You cannot make any additional deposits, or close the account early either.

The account can be operated online or by telephone.

Interest is paid on 2nd July 2013. When the term ends (at maturity) the money will be transferred to an instant access account, so savers can get their hands on it immediately. Also, cahoot will write to customers to confirm product details and rates at least 14 days before the bond matures.

This bond can be withdrawn from sale at any time, and as the rate is so competitive, if you are thinking of investing, you should do so sooner rather than later.

United National Bank 1 Year Fixed Deposit

This account pays a respectable 3.45% annual interest a year, but you must be prepared to leave your money untouched for the one-year fixed rate term.

While this rate is competitive, it is possible to earn marginally higher rates of interest with alternative one-year fixed rate accounts.

The account can be opened with a minimum investment of £2,000, and the maximum you can invest is £500,000.

The bank may, at its discretion, allow an early withdrawal for any reason, but you will need to explain your reasons and there will be a 2.00% early withdrawal charge.

United National Bank was formed in 2001 from the merger of the UK branches of two Pakistani banks, United Bank Limited and National Bank of Pakistan, who had been operating in the UK since the mid-1960's. The bank is fully authorised and regulated by the Financial Services Authority, which means that the first £85,000 will be protected by the Financial Services Compensation Scheme (FSCS).

To be eligible for this account you must be a UK resident and aged at least 18 or over. The account can either be held in joint or single names.

Allied Irish Bank (GB) Savings Direct 1 Year Fixed Rate Bond

This one-year fixed rate account pays a very competitive 3.40% annual interest – just short of the current market-leading rates over the same period.

Paying more than six times the current Bank of England base rate, this account is an appealing option for savers seeking decent returns but who don’t want to lock up their money for too long in case interest rates start to rise soon.

You can open the bond with a minimum investment of £1,000, but you cannot make any subsequent deposits after this, so make sure you pay in the maximum amount you want to at the outset.

The maximum amount you can invest is £2 million, but if you are planning on paying in a large lump sum, remember that only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS). Interest will be added to the account at maturity.

Make sure you can afford to leave your money untouched for the full one-year term as you are not allowed to make withdrawals. The bank does, however, say it will consider withdrawals in ‘exceptional circumstances’ but even then any money taken out will be subject to an interest charge.

The account is available by post or telephone.

Aldermore 1 Year Fixed Rate Account

This account pays a respectable 3.35% annual interest to savers willing to lock up their money for one year. There is also a monthly interest option available for those looking to supplement their income. You can open the account with a minimum investment of £1,000. Make sure you invest as much as you want to on opening the account, as no additional deposits, withdrawals or closures are allowed during the one-year fixed rate term.

The maximum amount you can hold in the account is £1 million, but bear in mind that if you do plan to deposit a large lump sum, only the first £85,000 will be protected by the Financial Services Compensation Scheme (FSCS). You can operate the account by phone, internet, or post. Aldermore also offer a two year fixed rate account if you want to invest over a longer period of time. To be eligible for the account, you must be aged at least 18, be a UK resident, and have a UK bank or building society account that allows transfer to be made or received by Direct Debit.

Bank of London and The Middle East - 1 Year Premier Deposit Account

This is an account which is consistent with Sharia’a principles - the practice of fairness, integrity and transparency – and is available to anyone looking for an ethical savings account.

In order to comply with Sharia’a principles, BLME does not invest in activities which are against the public interest, including arms production or trade, alcohol and gambling. It also means that the bank does not collect or pay interest, instead providing savers with profit payments.

Savers with the Premier Deposit Account, which is operated online, will receive an anticipated profit rate of 3.35% for the period of investment. You need at least £25,000 to invest in this online one-year deposit account, so it won’t suit savers with small sums to invest. Balances up to £85,000 are protected by the Financial Services Compensation Scheme.

No withdrawals are allowed during the fixed rate period, so you must be certain you can afford to tie up your money for a year.

BLME does not guarantee the profit rate on its accounts, but promises to monitor the performance of your account every day. In the unlikely event your deposit is not producing the 3.35% profit rate, you will be contacted immediately and asked if you want to withdraw your money.

Other investment terms are available, so you can choose an account with a maturity date that suits your financial objectives. The longer you agree to tie up your money, the higher the agreed rate of profit.

Virgin Money 1 Year Fixed Rate E-Bond

This one-year bond pays 3.30% annual interest before tax, with the rate fixed until 20th June 2013.

The account is provided by Northern Rock which is now part of Virgin Money.

While this rate is competitive, there are one-year fixed rate bonds available which pay higher returns.

Savers can choose whether to receive interest annually or monthly, which may suit those looking to supplement their income. However, the monthly option provides a slightly lower rate of interest of 3.26%.

You must be certain you can afford to leave your money untouched for a full year, as no withdrawals at all are permitted during the fixed rate term.

The account can be opened with a minimum investment of £1.00, and the maximum you can invest is £2,000,000.

If you are planning on paying in a large lump sum, however, remember that only the first £85,000 will be protected by the Financial Services Compensation Scheme.

You only operate the account online, so it will not suit savers who prefer branch or telephone access.

You must be aged 16 or over to apply for this account, which is a limited issue and therefore could be withdrawn at any time.

Post Office 1 Year Online Bond

This bond pays 3.27% annual interest fixed for 12 months, making it one of the most competitive fixed rate accounts available over a one-year period.

You can invest from £500 up to £2 million in the Online Bond, but if you do have a large lump sum you can afford to lock away for a year, remember that only the first £85,000 will be protected under the Financial Services Compensation Scheme. This account can only be opened online, so will not suit savers looking for branch or telephone access.

Savers can choose to receive interest either monthly or annually, making this a good choice for those looking to supplement their income.

No extra deposits or withdrawals can be made after you have opened the account, so you must be certain that you won’t need access to your cash during the bond’s 12-month term. You can close the account early if you need to, but if you do so you will have to pay a ‘breakage fee’ equivalent to 90 days’ interest.

To be eligible to open the account, you must be aged 18 or over and resident in the UK for tax purposes. You can open as many Online Bonds as you wish.

Halifax 1 Year Fixed Online Saver

Halifax’s 1 Year Fixed Online Saver account pays 3.20% annual interest before tax on a minimum investment of £500.

While this rate is respectable, it is currently possible to earn well over 3.20% with alternative one year fixed rate account.

On the plus side, savers can choose whether to receive interest annually or monthly, which may be useful for those looking to supplement their income.

The account can only be managed online, so it won’t be appropriate for savers who require branch or telephone access to their savings.

As with most fixed rate savings accounts, you cannot make withdrawals during the term of the account, so you must be certain you can afford to leave your money untouched for a year.

You can, however, close your account at any time if you need urgent access to your cash for any reason, but you will lose 90 days’ interest.

Halifax also offers two, three, four and five year Fixed Online Saver accounts, which pay 3.50%, 3.85%, 4.05% and 4.15% annual interest respectively. To be eligible to open any of these accounts, you must be a UK resident and aged 16 or over.

Governor Money Clydesdale Bank 14 Month Fixed Rate Savings

This account pays a competitive 3.20% fixed rate of interest before tax for 14 month on a minimum investment of £100.

While this rate is generous, it is worth bearing in mind that you can earn higher rates of interest with alternative fixed rate bonds with a shorter one-year term.

The maximum you can hold in this account is £100,000. However, if you are planning on investing a large lump sum, remember that only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS).

You will earn 0.50% variable on any money you pay into your account prior to the start date of the account, which is 31st May 2012.

You must be prepared to leave your money untouched for the 14-month term of the account as no withdrawals are permitted and you cannot close the account early.

The account matures on 31st July 2013 and interest is paid annually. You must be at least 18-years-old and a resident in the UK for tax purposes to be eligible to open this account.

Governor Money is not a bank or building society itself but administers your money on your behalf. Money is always held in UK FSA authorised and regulated institutions, such as Clydesdale Bank.

Nationwide BS 1 Year Fixed Rate e-Bond

This account pays tiered rates of interest depending on how much you invest, with a maximum rate payable of 2.70%.

To be able to open this account, you first need to open a Nationwide FlexAccount with internet banking. Once you have done this, you can open the e-Bond with a minimum investment of just £1.00.

However, the top rate of interest only goes to savers with at least £50,000 to invest. If you only have between £1.00 and £9,999 to invest, you will earn 2.45%, rising to 2.50% on balances between £10,000 and £24,999. Balances between £25,000 and £49,999 earn 2.60% annual interest.

If you are planning on investing a large lump sum so you can earn the highest rate available, remember than only the first £85,000 is protected by the Financial Services Compensation Scheme. The maximum you are allowed to invest in this e-Bond account is £3 million.

Before opening the account, you must be certain you won’t need to get your hands on your cash during the fixed rate term as part-withdrawals are not allowed. If you choose to close the account early, you will lose interest.

Nationwide BS 6 Month Fixed Rate e-Bond

This account pays tiered rates of interest depending on how much you invest, with a maximum rate payable of 2.26%.

To be able to open this account, you first need to open a Nationwide FlexAccount with internet banking. Once you have done this, you can open the e-Bond with a minimum investment of just £1.00.

However, the top rate of interest only goes to savers with at least £50,000 to invest. If you only have between £1.00 and £9,999 to invest, you will earn 2.01%, rising to 2.06% on balances between £10,000 and £24,999. Balances between £25,000 and £49,999 earn 2.16% annual interest.

If you are planning on investing a large lump sum so you can earn the highest rate available, remember than only the first £85,000 is protected by the Financial Services Compensation Scheme. The maximum you are allowed to invest in this e-Bond account is £3 million.

Before opening the account, you must be certain you won’t need to get your hands on your cash during the fixed rate term as part-withdrawals are not allowed. If you choose to close the account early, you will lose interest.

Bank of London and The Middle East - 2 Year Premier Deposit Account

This is an account which is consistent with Sharia’a principles - the practice of fairness, integrity and transparency – and is available to anyone looking for an ethical savings account.

In order to comply with Sharia’a principles, BLME does not invest in activities which are against the public interest, including arms production or trade, alcohol and gambling. It also means that the bank does not collect or pay interest, instead providing savers with profit payments.

Savers with the Premier Deposit Account, which is operated online, will receive an anticipated profit rate of 3.75% for the period of investment. You need at least £25,000 to invest in this online one-year deposit account, so it won’t suit savers with small sums to invest. Balances up to £85,000 are protected by the Financial Services Compensation Scheme.

No withdrawals are allowed during the fixed rate period, so you must be certain you can afford to tie up your money for two years.

 
BLME does not guarantee the profit rate on its accounts, but promises to monitor the performance of your account every day. In the unlikely event your deposit is not producing the 3.75% profit rate, you will be contacted immediately and asked if you want to withdraw your money.

Other investment terms are available, so you can choose an account with a maturity date that suits your financial objectives. The longer you agree to tie up your money, the higher the agreed rate of profit.

Allied Irish Bank (GB) Savings Direct 2 Year Fixed Rate Bond

This account pays a highly competitive 3.70% annual interest rate before tax on a minimum investment of £1,000.

While this is not a market-leading rate, it is only a fraction lower than those at the top of the table over the same time-frame. Interest is calculated daily and added to the Bond on each anniversary and at maturity.

The maximum you can invest in the account is £2 million, although if you are planning on investing a large lump sum, bear in mind that only the first £85,000 will be protected by the Financial Services Compensation Scheme.

Additional deposits are not allowed after you have opened the bond, so you will need to pay in the full amount you want to save at the outset. You cannot take any money out during the term of the account either, although the bank does say it will be allow withdrawals in exceptional circumstances, but they will be subject to an interest charge.

This account can be operated by post or telephone, and so will not suit savers who prefer to manage their money online.

Post Office 2 Year Online Bond

This bond pays 3.63% annual interest fixed for 2 years. making it one of the most competitive fixed rate accounts available over a two-year period.

You can invest from £500 up to £2 million in the Online Bond, but if you do have a large lump sum you can afford to lock away for two years, remember that only the first £85,000 will be protected under the Financial Services Compensation Scheme. This account can only be opened online, so will not suit savers looking for branch or telephone access.

Savers can choose to receive interest either monthly or annually, making this a good choice for those looking to supplement their income.

No extra deposits or withdrawals can be made after you have opened the account, so you must be certain that you won’t need access to your cash during the bond’s two-year term. You can close the account early if you need to, but if you do so you will have to pay a ‘breakage fee’ equivalent to 180 days’ interest.

To be eligible to open the account, you must be aged 18 or over and resident in the UK for tax purposes. You can open as many Online Bonds as you wish.

BM Savings 2 Year Fixed Rate Bond

This account pays a respectable 3.60% annual interest over its two year fixed rate term.

You can open the account with a minimum investment of just £1.00 and can save up to a massive £10 million. However, if you are planning on depositing a significant sum of money, bear in mind that only the first £85,000 will be protected by the Financial Services Compensation Scheme (FSCS).

Savers can pay into the account while it is still open to new deposits.

Unlike many fixed rate accounts, you can make withdrawals, but these will be subject to a loss of interest charge. If you make a withdrawal in the first year of the fixed term period, you will lose 180 days’ interest on the amount withdrawn, while if you take money out in the second year, you will lose 90 days’ interest on the amount withdrawn.

The bond can only be accessed by post, so it won’t suit savers who also require branch, telephone or online access.

To apply for the account, you must be a UK resident and aged 16 or over. For those opening the bond online you must be aged 18 or over. Accounts can only be opened in sole and not joint names.

Halifax 2 Year Fixed Online Saver

Halifax’s 2 Year Fixed Online Saver account pays 3.50% annual interest before tax on a minimum investment of £500.

This makes it one of the most competitive fixed rate accounts available over this time frame, although there are still higher rates available elsewhere.

Savers can choose whether to receive interest annually or monthly, which may be useful for those looking to supplement their income.

The account can only be managed online, so it won’t suit savers who require branch or telephone access to their savings.

As with most fixed rate savings accounts, you cannot make withdrawals during the term of the account, so you must be certain you can afford to leave your money untouched for two years.

You can, however, close your account at any time if you need urgent access to your cash for any reason, but you will lose 180 days’ interest.

Halifax also offers one, three, four and five year Fixed Online Saver accounts, which pay 3.20%, 3.85%, 4.05% and 4.15% annual interest respectively. To be eligible to open any of these accounts, you must be a UK resident and aged 16 or over.

United National Bank 2 Year Fixed Deposit

This account pays a respectable 3.50% annual interest a year, but you must be prepared to leave your money untouched for the two-year fixed rate term.

While this rate is very competitive, it is possible to earn higher rates of interest with alternative two-year fixed rate accounts.

Savers can choose to receive interest annually or monthly, which will suit those looking to supplement their income, although if you do choose the monthly option, interest is paid at 3.45%.

The account can be opened with a minimum investment of £2,000, and the maximum you can invest is £500,000.

The bank may, at its discretion, allow an early withdrawal for any reason, but you will need to explain your reasons and there will be a 2.00% early withdrawal charge.

United National Bank was formed in 2001 from the merger of the UK branches of two Pakistani banks, United Bank Limited and National Bank of Pakistan. The bank is fully authorised and regulated by the Financial Services Authority, which means that the first £85,000 will be protected by the Financial Services Compensation Scheme (FSCS).

To be eligible for this account you must be a UK resident and aged at least 18 or over. The account can either be held in joint or single names.

Cambridge BS 2 Year e-Bond

This two-year fixed rate bond pays 3.35% annual interest on a minimum investment of £1,000, although it is possible to earn higher rates over the same period with alternative accounts.

The rate is fixed until 31st July 2014, and the maximum amount you can hold in the account is £1 million. Bear in mind, however, that if you do plan to deposit a large lump sum, only the first £85,000 will be protected under the Financial Services Compensation Scheme (FSCS).

Savers can only add to the balance of their account while the issue remains open.

You can choose to receive interest either annually or monthly, which is useful for savers looking to supplement their income. Monthly interest is paid on the last day of each month, while annual interest is paid on 31st December.

No withdrawals are permitted during the term of the bond, so you must be certain you can afford to leave your money untouched for the next two years. You cannot close the account early either.

This account can only be operated online, so it will not suit anyone who also requires branch or postal access to their savings.

Bank of London and The Middle East - 3 Year Premier Deposit Account

This is an account which is consistent with Sharia’a principles - the practice of fairness, integrity and transparency – and is available to anyone looking for an ethical savings account.

In order to comply with Sharia’a principles, BLME does not invest in activities which are against the public interest, including arms production or trade, alcohol and gambling. It also means that the bank does not collect or pay interest, instead providing savers with profit payments.

Savers with the Premier Deposit Account, which is operated online, will receive an anticipated profit rate of 4.00% for the period of investment. You need at least £25,000 to invest in this online one-year deposit account, so it won’t suit savers with small sums to invest. Balances up to £85,000 are protected by the Financial Services Compensation Scheme.

No withdrawals are allowed during the fixed rate period, so you must be certain you can afford to tie up your money for three years.

BLME does not guarantee the profit rate on its accounts, but promises to monitor the performance of your account every day. In the unlikely event your deposit it not producing the 4.00% profit rate, you will be contacted immediately and asked if you want to withdraw your money.

Other investment terms are available, so you can choose an account with a maturity date that suits your financial objectives. The longer you agree to tie up your money, the higher the agreed rate of profit.

Halifax 3 Year Fixed Online Saver

Halifax’s 3 Year Fixed Online Saver account pays 3.85% annual interest before tax on a minimum investment of £500.

While this rate is very competitive, it is possible to earn higher rates of interest with alternative three year fixed rate accounts.

Savers can, however, choose whether to receive interest annually or monthly, which can be useful for those looking to supplement their income.

The account can only be managed online, so it won’t suit savers who require branch or telephone access to their savings.

As with most fixed rate savings accounts, you cannot make withdrawals during the term of the account, so you must be certain you can afford to leave your money untouched for three years.

You can, however, close your account at any time if you need urgent access to your cash for any reason, but you will lose 270 days’ interest.

Halifax also offers one, two, four and five year Fixed Online Saver accounts, which pay 3.20%, 3.50%, 4.05% and 4.15% annual interest respectively. To be eligible to open any of these accounts, you must be a UK resident and aged 16 or over.

Post Office 3 Year Online Bond

This fixed rate account pays a competitive 3.72% annual interest to savers who can afford to tie up their money for three years.

Savers can choose whether to receive interest annually or monthly, which makes the account a good choice for those looking to supplement their income.

You can open the account with a minimum investment of £500 and the maximum you can pay in is £2 million. Bear in mind, however, that if you do plan to invest a large lump sum, only the first £85,000 will be protected by the Financial Services Compensation Scheme.

No additional deposits or withdrawals are permitted once you have opened the account, so you must be certain you won’t need to get your hands on your cash before the end of the three-year term. You can close the account early if necessary, but you will have to pay a ‘breakage fee’ of 180 days’ interest.

If you are considering tying up your money for three years or more, it is worth remembering that while interest rates may seem impressive now, they may not seem quite as appealing in a year or two if interest rates start to rise.

Vanquis Bank High Yield 3 Year Fixed Rate Bond

This account pays an impressive 3.61% annual interest fixed for three years, making it one of the most competitive three year bonds currently available.

Savers must have at least £1,000 to invest to open the bond, and the maximum amount you can hold in the account is £250,000. However, if you have a large lump sum to invest, bear in mind that only the first £85,000 is protected by the Financial Services Compensation Scheme.

No additional deposits can be made once you have opened the account and you cannot make withdrawals or close the account early, so you must be certain that you can afford to tie up your money for the full three year term.

On the plus side, the account allows savers to choose whether they want to receive interest either annually or monthly, which is useful for anyone looking to supplement their income. However, the monthly interest option pays a marginally lower rate of interest, at 3.55% a year before tax.

These bonds are a limited offer and may be withdrawn at any time, so don’t hang around if you are interested in investing.

To be eligible for this account, you must be aged at least 18 and a UK resident.

Virgin Money 3 Year Fixed Rate E-Bond

This three-year bond pays 3.60% annual interest before tax, with the rate fixed until 20th June 2015.

The account is provided by Northern Rock which is now part of Virgin Money.

While this rate is competitive, there are three-year fixed rate bonds available which pay higher returns.

Savers can choose whether to receive interest annually or monthly, which may suit those looking to supplement their income. However, the monthly option provides a slightly lower rate of interest of 3.55%.

You must be certain you can afford to leave your money untouched for three years, as no withdrawals at all are permitted during the fixed rate term.

The account can be opened with a minimum investment of £1.00, and the maximum you can invest is £2,000,000.

If you are planning on paying in a large lump sum, however, remember that only the first £85,000 will be protected by the Financial Services Compensation Scheme.

You only operate the account online, so it will not suit savers who prefer branch or telephone access.

You must be aged 16 or over to apply for this account, which is a limited issue and therefore could be withdrawn at any time.

United National Bank 3 Year Fixed Deposit

This account pays 3.60% annual interest over its three-year fixed term, but it is possible to earn over 4.00% over the same timeframe elsewhere.

On the plus side, savers can choose whether or not they want to receive interest annually, monthly or on maturity, which makes this a good option for anyone looking to supplement their income.

The account can be opened with a minimum investment of £2,000 and the maximum you can invest is £500,000.

Withdrawals are not permitted during the term of the account, although the bank does say it will allow them in special circumstances, which you must explain in an e-mail. There will be a 2.00% early withdrawal charge if you do take any money out, so you should be certain before investing that you can leave your savings untouched for the full three year term.

United National Bank was formed in 2001 from the merger of the UK branches of two Pakistani banks, United Bank Limited and National Bank of Pakistan. It is fully authorised and regulated by the Financial Services Authority, which means deposits up to £85,000 will be protected by the Financial Services Compensation Scheme.

For joint accounts each account holder is treated as having a claim in respect of their share so the maximum amount that could be claimed would be £85,000 each, making a total of £170,000.

You must be a UK resident and aged at least 18 to be eligible for this account.

Scottish Widows Bank 3 Year Fixed Term Deposit

This account pays a competitive 3.50% annual interest before tax to savers with at least £10,000 to invest who can afford to tie up their money for three years.

The account is available to both new and existing Scottish Widows customers.

Once you have opened the account, you cannot make any subsequent deposits. The maximum amount you can hold in this account is £5 million, but if you are planning on depositing a large lump sum, remember that only the first £85,000 will be protected by the Financial Services Compensation Scheme (FSCS).

Savers who are looking to supplement their income can choose to receive interest quarterly or monthly, at marginally lower rates of 3.45% and 3.44% respectively.

You cannot make any withdrawals from this account, so you must be certain that you can afford to leave your money untouched for three years. However, you can close the account early if you need to, although you will be charged a penalty equivalent to 200 days’ interest, so you should avoid doing this if at all possible.

This account can be opened as a joint or single account.

Bank of London and The Middle East - 5 Year Premier Deposit Account

This is an account which is consistent with Sharia’a principles - the practice of fairness, integrity and transparency – and is available to anyone looking for an ethical savings account.

In order to comply with Sharia’a principles, BLME does not invest in activities which are against the public interest, including arms production or trade, alcohol and gambling. It also means that the bank does not collect or pay interest, instead providing savers with profit payments.

Savers with the Premier Deposit Account, which is operated online, will receive an anticipated profit rate of 4.60% for the period of investment.

You need at least £25,000 to invest in this online one-year deposit account, so it won’t suit savers with small sums to invest. Balances up to £85,000 are protected by the Financial Services Compensation Scheme.

No withdrawals are allowed during the fixed rate period, so you must be certain you can afford to tie up your money for five years.

 
BLME does not guarantee the profit rate on its accounts, but promises to monitor the performance of your account every day. In the unlikely event your deposit it not producing the 4.60% profit rate, you will be contacted immediately and asked if you want to withdraw your money.

Other investment terms are available, so you can choose an account with a maturity date that suits your financial objectives. The longer you agree to tie up your money, the higher the agreed rate of profit.

BM Savings 5 Year Fixed Rate Bond

This account pays a competitive, although not market-leading, 4.40% annual interest – but only if you can afford to leave your savings untouched for five years.

The account can be opened with a minimum investment of just £1.00, and the maximum amount you can pay in is £10 million. Remember, however, that if you are planning on depositing a large lump sum, only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS).

Savers should think carefully about locking up their money for such a long period of time. While the interest rate looks very competitive now, it may not seem quite as appealing in a few years’ time when savings rates have started to climb once the Bank of England base rate rises.

You can make a withdrawal if you really need to, but you will lose interest on the amount taken out. If you take out any money in the first year, you will lose 365 days’ interest on the amount withdrawn while if you make a withdrawal in the second year you will lose 320 days’ interest. Withdrawals made in the third, fourth or final year of the bond will result in a loss of 270 days’, 180 days’ or 90 days’ interest respectively.

Savers must be 16 or over to apply and for those opening the bond online you must be 18 or over.

Bank of London and The Middle East - 4 Year Premier Deposit Account

This is an account which is consistent with Sharia’a principles - the practice of fairness, integrity and transparency – and is available to anyone looking for an ethical savings account.

In order to comply with Sharia’a principles, BLME does not invest in activities which are against the public interest, including arms production or trade, alcohol and gambling. It also means that the bank does not collect or pay interest, instead providing savers with profit payments.

Savers with the Premier Deposit Account, which is operated online, will receive an anticipated profit rate of 4.20% for the period of investment.

You need at least £25,000 to invest in this online one-year deposit account, so it won’t suit savers with small sums to invest. Balances up to £85,000 are protected by the Financial Services Compensation Scheme.

No withdrawals are allowed during the fixed rate period, so you must be certain you can afford to tie up your money for four years.

BLME does not guarantee the profit rate on its accounts, but promises to monitor the performance of your account every day. In the unlikely event your deposit it not producing the 4.20% profit rate, you will be contacted immediately and asked if you want to withdraw your money.

Other investment terms are available, so you can choose an account with a maturity date that suits your financial objectives. The longer you agree to tie up your money, the higher the agreed rate of profit.

Halifax 5 Year Fixed Online Saver

Halifax’s 5 Year Fixed Online Saver account pays an impressive fixed rate of 4.15% annual interest on a minimum investment of £500.

Remember, however, that while this rate may look appealing now, it may look less attractive in a few years’ time when interest rates eventually start to rise.

Savers can choose whether to receive interest annually or monthly, which can be useful for those looking to supplement their income.

The account can only be managed online, so it won’t suit savers who require branch or telephone access to their savings.

As with most fixed rate savings accounts, you cannot make withdrawals during the term of the account, so you must be certain you can afford to leave your money untouched for five years.

You can, however, close your account at any time if you need urgent access to your cash for any reason, but you will lose 365 days’ interest.

Halifax also offers one, two, three and four year Fixed Online Saver accounts, which pay 3.20%, 3.50%, 3.85%, and 4.05% annual interest respectively. To be eligible to open any of these accounts, you must be a UK resident and aged 16 or over.

Vanquis Bank High Yield 5 Year Fixed Rate Bond

This account pays an impressive 4.06% annual interest fixed for five years, making it one of the most competitive five year bonds currently available.

Bear in mind, however, that while this rate might look generous now, it may not seem quite as appealing in a few years’ time once interest rates start to rise.

Savers must have at least £1,000 to invest to open the bond, and the maximum amount you can hold in the account is £250,000. However, if you have a large lump sum to invest, bear in mind that only the first £85,000 is protected by the Financial Services Compensation Scheme.

No additional deposits can be made once you have opened the account and you cannot make withdrawals or close the account early, so you must be certain that you can afford to tie up your money for the full five year term.

On the plus side, the account allows savers to choose whether they want to receive interest either annually or monthly, which is useful for anyone looking to supplement their income. However, the monthly interest option pays a marginally lower rate of interest, at 3.99% a year.

These bonds are a limited offer and may be withdrawn at any time, so don’t hang around if you are interested in investing. To be eligible for this account, you must be aged at least 18 and a UK resident.

Halifax 4 Year Fixed Online Saver

This 4 year Fixed Online Saver account pays an impressive fixed rate of 4.05% monthly interest before tax on a minimum investment of £500.

Remember, however, that while this rate may look appealing now, it may look less attractive in a few years’ time when interest rates eventually start to rise.

Savers can choose whether to receive interest annually or monthly, which can be useful for those looking to supplement their income.

The account can only be managed online, so it won’t suit savers who require branch or telephone access to their savings.

As with most fixed rate savings accounts, you cannot make withdrawals during the term of the account, so you must be certain you can afford to leave your money untouched for four years.

You can, however, close your account at any time if you need urgent access to your cash for any reason, but you will lose 320 days’ interest.

Halifax also offers one, two, three and five year Fixed Online Saver accounts, which pay 3.20%, 3.50%, 3.85%, and 4.15% annual interest respectively. To be eligible to open any of these accounts, you must be a UK resident and aged 16 or over.

BM Savings 4 Year Fixed Rate Bond

This four-year, fixed-rate bond from BM Savings pays 4.00%, giving a rate of 3.20% after basic rate tax. The terms of the account are very flexible when it comes to how much you invest.

The account can be opened with a minimum investment of just £1.00, and the maximum amount you can pay in is £10 million. Remember, however, that if you are planning on depositing a large lump sum, only the first £85,000 is protected by the Financial Services Compensation Scheme (FSCS).

Savers should think carefully about locking up their money for such a long period of time. While the interest rate looks very competitive now, it may not seem quite as appealing in a few years’ time when savings rates have started to climb once the Bank of England base rate rises.

You can make a withdrawal if you really need to, but you will lose interest on the amount taken out. If you take out any money in the first year, you will lose 320 days’ interest on the amount withdrawn while if you make a withdrawal in the second year you will lose 270 days’ interest. Withdrawals made in the third or final year of the bond will result in a loss of 180 days’ or 90 days’ interest respectively.

Savers must be 16 or over to apply and for those opening the bond online you must be 18 or over.

Scottish Widows Bank 5 Year Fixed Term Deposit

This account pays 4.00% annual interest to savers prepared to lock up their money for five years, which is one of the highest rates available.

The account can only be opened with a steep minimum deposit of £10,000, so it won’t be suitable for savers with small sums to invest.

The maximum amount you can hold in the account is £5 million, but bear in mind that if you are planning on investing a large lump sum, only the first £85,000 will be protected by the Financial Services Compensation Scheme. Once you have opened the account, no further deposits can be made.

Savers can choose whether to receive interest annually, quarterly or monthly, which makes the account useful for those looking to supplement their income.

You cannot make partial withdrawals from this account during the five-year term, so you must be certain you can afford to leave your money untouched. If you do need to get your hands on your money before the end of the term, you can close your fixed rate deposit account early, but you will be charged an amount equal to 365 days' interest.

If you are considering tying up your money for five years, it is worth remembering that while interest rates may seem impressive now, they may not seem quite as appealing in a year or two if interest rates start to rise.