Fixed-rate savings bonds

Fixed-rate savings bonds are interest-paying savings accounts offered by banks and building societies for a fixed amount of time. You usually get a higher interest rate than from instant access savings accounts.A fixed-rate savings bond might be for you if:

• you have £100 or more in cash that you don’t need instant access to for at least six months or the term of the bond
• you want a potentially higher return than on your regular savings account
• you don’t want to risk losing any of your money (which you could do with investments).

Although the minimum investment for some savings accounts is £1, the minimum deposit is usually £100, with a maximum typically of £1,000,000. Interest rates will sometimes have levels that increase the more you can save into the account.