This comparison simply includes all savings accounts.
Lloyds 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 Lloyds fixed rate bond right for you?
How can you tell if you are getting the best possible deal on your savings? If you would like to earn the highest available interest rate, a savings account will usually offer this.
It should be noted that interest in savings accounts is only paid up to a certain deposit threshold You will generally earn no interest on any balance above this threshold. In addition, the majority of savings accounts come with a limit to the amount you can deposit.
Fixed rate bonds allow you to earn a guaranteed rate of interest for the life of the bond, which will most commonly be 1 year, 2 years, 3 years or 5 years. The longer the bond lasts for, the higher the interest rate you will usually be offered.
Putting your savings into a fixed rate bond means you won’t usually be able to use that money for anything else until the bond matures. However, some providers do allow you to remove funds early, in exchange for a financial penalty.
If you are not earning money on your savings then their real world value is likely to be decreasing due to the impact of inflation. Putting your cash into one or more fixed rate bonds can prevent this and should result in the buying power of your savings increasing by the time your bond matures
Why choose a Lloyds fixed rate bond?
Lloyds Banking Group is one of the UK’s biggest and best known financial institutions. They offer the following benefits with their fixed rate bonds:
- Minimum deposit of £2,000
- Maximum deposit of £1million
- Interest can be paid monthly, annually or when your bond matures
- Manage your account by phone and in branch
Restrictions
When taking out a fixed rate bond with Lloyds, please be aware of the following:
- You must be at least 16 years old
- You must be a UK resident
- No early withdrawals are permitted
Compare Lloyds fixed rate bonds
Lloyds currently offer 2 year fixed rate bonds to their customers. If you would like to take out a bond over a longer period in order to earn a better rate of interest, please take a look at other providers such as Aldermore.
Getting the best deal on fixed rate bonds
Interest rates and other conditions on savings accounts, including fixed rate bonds, change regularly to reflect shifts in market conditions and customer demand. This can make it hard for consumers to keep up with which brands and products are currently offering the best value.
Using our fixed rate bond comparison tool above, you can quickly and easily see which products represent the best deal for you. We frequently update these deals with the most competitive offers we can find to save you the trouble of manually comparing different brands and their products.
Before making an investment into a fixed rate bond, you need to be confident you are making a choice you will be happy with for the full term of the account. To achieve this, make sure you carefully reflect on the return you would like to see and your existing financial commitments and any that are likely to arise in the foreseeable future.
