This comparison simply includes all savings accounts.
Masthaven Bank 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 Masthaven Bank fixed rate bond right for you?
Masthaven have been around since 2004 but became a bank in 2016 when they were awarded a banking licence. They offer a variety of ways to save and borrow, including fixed rate bonds.
Fixed rate bonds offer guaranteed rates of interest in exchange for locking your money away for a set period. They are usually offered with terms of 1 year, 2 years, 3 years or 5 years. In general, the longer the bond term, the higher interest rate you will receive.
You can often deposit much larger sums into a fixed rate bond than you can into some other kinds of accounts. This makes them potentially a useful way of ensuring that you are receiving a return on the whole of your savings. However, other options can sometimes offer a better return on smaller sums.
One reason fixed rate bonds are popular is because they can help your savings retain their real world value over time. If you are not earning interest, the effects of inflation can erode the buying power of your savings as prices go up but your savings don’t.
Fixed rate bonds can easily be set up in parallel to your current account, allowing you to earn the best available rates on all of your savings without disrupting your day-to-day banking.
Compare Masthaven Bank fixed rate bonds
You can save from £500-£250,000 in a Masthaven fixed rate bond, however you can have multiple accounts up to a combined total of £1,000,000. It is important to note that you cannot remove funds early, so you must be confident you will not need the money you deposit until the bond term ends.
One popular alternative to a fixed rate bond that is worth considering is an Individual Savings Account (ISA). ISAs can either offer variable rates or fixed rates, but with the added advantage that you will not need to pay tax on the interest you earn on deposits up to a yearly allowance set by the government. This is £20,000 for the curent tax year.
Find out more about ISAs here.
Getting the best deal on fixed rate bonds
With so many providers to choose from, it can be hard to know which offers the best value to you. This is especially true since the interest rates offered on different savings products vary all the time in response to the market and consumer demand.
The fixed rate bond comparison table, located at the top of this page, allows you to quickly contrast our favourite deals from across the market, helping you to find the best deals available right now. That way you can make a more informed decision with minimal fuss and stress.
