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What is the difference between a Fixed Term Savings Account and a Fixed Rate Bond?

Our new Fixed Term Savings Account works in a very similar way to our previous Fixed Rate Bond product. Both products enable you to invest your money over a longer period of time with restricted access, in return for a higher interest rate than is available on instant access savings products.

However, we have improved our product and processes to offer you a much quicker and more straightforward customer journey, from opening your new account with us right through to your maturity date.

Our new Fixed Term Savings Account offers you:

  • A quicker and simpler customer journey from account opening to maturity
  • The flexibility to transact on your Fixed Term Savings Account right up until the start date of the 'fixed period' of time during which your money will be locked away
  • A higher rate of interest than instant access savings products in return for restricting the access to your funds for an agreed length of time, in addition to peace of mind that your rate will not change during that time