Working in the financial industry for over 30 years, Rachel Thrussell is the leading independent expert on UK savings products. Her views are constantly in demand from both the industry and the press.
Can I fix my interest rate for less than a year?
Fixed rate bonds continue to be the best way to secure a top return on your savings, but with talk of more base rate rises to come, many people are understandably wary of tying up their cash for too long, in case savings rates rise dramatically and they’re already locked into a rate of interest that could seem paltry a year or two from now.
Luckily, there are several bonds available that have terms of less than a year, allowing you to get a high rate of interest without too much commitment. For example, OakNorth, Bank of London and the Middle East, Masthaven Bank and Wyelands Bank (to name but a few) all have fixed rate bonds with six-month terms, while ICICI Bank UK and Fidor Bank both have options allowing you to fix your rate for nine months. You can find alternative deals by following this link.
|1 Year Fixed Rate Bond||1.46%|
|2 Year Fixed Rate Bond||1.63%|
|3 Year Fixed Rate Bond||1.87%|
|4 Year Fixed Rate Bond||2.13%|
|5 Year Fixed Rate Bond||2.15%|
|16 October 2018|
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