This comparison simply includes all savings accounts.
Birmingham Midshires Fixed Rate Bonds
Why we like it: Interest paid annually. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must be UK resident and be aged 18 or older
Why we like it: Instant access to your savings. Unlimited deposits and withdrawals. Interest paid monthly, either to a linked current account, or adding it to your Online Flexi Saver account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Must be aged 18 or older and have a UK address. Must have a linked UK current account. Your eligible deposits with Investec Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: Which? Recommended Savings Provider. No notice period. Deposit from £100. Interest paid monthly or annually. Apply in minutes. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services. Compensation Scheme (FSCS)
Why we like it: Unlimited payments and withdrawals. Interest paid annually. Open in a single or a joint name. Maximum deposit £250,000. FSCS Protected. Winner of Platinum Feefo Trusted Service Award in 2024. Must be UK resident and be aged 18 or older
Why we like it: Interest calculated monthly. Unlimited deposits and withdrawals. Open and manage online. FSCS Protected. Must retain a minimum balance of £20,000 in the account. Must be UK resident and be aged 18 or older
Why we like it: All funds deposited into the RCI Bank E-Volve Savings 14 Day Notice Account will be used to fund pure electric vehicles and charging facilities. Interest paid monthly or annually. Manage account online. UK-based support, seven days a week. Which? Recommended Savings Provider. Unlimited withdrawals subject to 14 days notice. Must be UK resident. Must be aged 18 or older. Your eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS)
Why we like it: The interest rate tracks the Bank of England (BoE) Base Rate. Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month. Open and manage account online. Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme. The maximum deposit you may pay into any one OakNorth Account is £500,000. The maximum amount (excluding the interest) that you will be allowed to hold on deposit with OakNorth Bank across multiple accounts is also £500,000. Unlimited withdrawals, subject to 95 days notice. Available to individuals, aged 18 or over, who are UK residents
Why we like it: Unlimited deposits and withdrawals. Interest paid monthly: can be added to your Notice Saver or paid to your linked account. Easy application process, you just need a UK mobile phone and UK driving licence or passport. Manage account online. Maximum balance £250,000. Withdrawals subject to 90 days notice. Must be aged 18 or older and have a UK address. Must have a linked UK current account
Why we like it: 3 penalty-free withdrawals in a 12 month period. 3.82% AER (variable tracker) + 0.68% AER 12 month boost. 3.75% gross variable tracker. Interest paid monthly. Deposit and withdraw almost instantly. No fees or charges for holding account. FSCS eligible on your deposits. After 3 withdrawals within a 12 month period the rate will revert to either 3.40% AER (variable tracker with boost applied) or 2.72% AER (variable tracker) for the remainder of the 12 month period since opening the account. Must be UK resident. Must be aged 18 or older
Why we like it: 9 month term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Why we like it: Interest paid on maturity. Automatic repayment to your linked account. Maximum deposit £250,000. FSCS Protected. Must have a UK residential address and be aged 18 or older. No withdrawals permitted
Why we like it: 1 year term, minimum deposit £1,000, no withdrawals permitted. FSCS Protected
Is a Birmingham Midshires fixed rate bond right for you?
Savings accounts usually offer the best rates of interest on smaller sums, but these rates only apply up to a certain balance and/or have limit on the maximum balance permitted in the account.
If you want to see a return on larger deposits, fixed rate bonds can provide an ideal way to do this. By transferring the portion of your savings not currently earning interest into a fixed rate bond, you can ensure that you are getting the most out of your money.
Fixed rates bonds, like those provided by Birmingham Midshires, offer a dependable return for the life of the bond. This helps prevent your savings from losing their value relative to inflation and means their real world value should increase over the life of the bond.
Commonly, fixed rate bonds have a term of 1 year, 2 years, 3 years or 5 years. The longer the bond runs for, the higher interest rate you will usually be offered. Although some accounts will allow you to take money out of your bond before it matures, you will likely incur a penalty for this in the form of lost interest payments.
One key advantage of fixed rate bonds is that they allow you to earn a return on the whole of your savings while still keeping your existing current account. This makes the process relatively hassle-free as it offers no disruption to your regular banking.
Why choose a Birmingham Midshires fixed rate bond?
Birmingham Midshires are part of the Lloyds Banking Group and specialise in savings and mortgages.
Starting a fixed rate bond with Birmingham Midshires offers the following advantages:
- Accounts can be accessed online, by phone or by post
- Interest can be paid monthly or at maturity on most bonds
Compare Birmingham Midshires fixed rate bonds
Birmingham Midshires provide very little specific information about their fixed rate bonds on their website, so you will need to contact them directly for details of their current offers. Alternatively, you may wish to look at alternate providers such as Aldermore.
Getting the best deal on fixed rate bonds
The market for fixed rate bonds changes all the time and providers are always updating their interest rates and other features of their bonds to reflect this. It can be hard, therefore, for consumers to stay on top of which deals are currently the best for them.
Our fixed rate bond comparison table at the top of this page is regularly updated with the latest and best fixed rate bond deals. This makes it the perfect place to keep track of exactly what is currently on offer.
When considering which fixed rate bond to go for, make sure to carefully reflect on your own personal needs and circumstances as this can help ensure you find the best deal for you.
