The best-buy regular savings accounts are typically linked to current accounts, and are not all fixed.

Any replacement account could well pay a lower rate, if and when it is introduced.Ĭlose Brothers recently pulled its popular one-year fixed-rate savings bond that was paying 5.4%. “New applications of fixed-term savings will not be available until early in the new year for new customers,” it said. The demand for such accounts means banks could start withdrawing or repricing products lower when everyone returns to work next week – or even sooner.īefore Christmas, Metro Bank, which was offering a table-topping 5.66% on its one-year fixed-rate bond, pulled the deal to allow it to handle a big influx of applications. Meanwhile, Hanley Economic building society in Stoke-on-Trent is paying a very attractive 5.35% on a three-year deal, again with a minimum £1,000 opening balance, although this is only available by post or in a branch. If you are prepared or aiming to lock your money away for longer, the Union Bank of India (UK) is paying 5.4% over 24 months. On the high street, the Post Office is offering a rate of 5% on its Growth Bond – you can fix at that rate for one, two or three years. SmartSave is offering a slightly lower 5.31% for a year on a minimum investment of £10,000. The only way to lock in at today’s levels is to look for a fixed-rate account – either a regular saver or a bond.Īccording to Guardian Money research, the highest-paying one-year, fixed-rate bonds this week are from Ford Money – paying an attractive 5.35% if you have at least £500 to invest, and Union Bank of India (UK), which pays the same but you need £1,000 to open it. If it does, payouts on any accounts not promising a fixed interest rate are bound to follow suit, and those easy access deals that look good now may not be as rewarding this time next year.

Fixed deposit rate ocbc bank