🔔 Close to the top!

Following a number of key providers withdrawing top-paying short term fixed rate bonds, which meant a lull in competition, Close Brothers has today entered our one year fixed rate bond table, taking the top spot, paying 1.96% gross/AER.

Hopefully, this will be the first stage of a revival of competition in this popular area of the market.

It is available to open via the post with a minimum deposit of £10,000, which can be made by cheque or electronic bank transfer.

Hot on the heels of this Close Brothers offering are a plethora of providers offering bonds paying 1.95% gross/AER – these providers include the access bank UK, FirstSave and Ikano Bank, which can all be opened online. The minimum on these bonds is also lower, with a number of them having a minimum as low as £1,000.

Cash Savings Platform Raisin UK also offers a 12-month fixed rate bond with new provider FCMB, paying 1.95% gross/AER on a minimum of £1,000*. In addition, those who are new to Raisin UK may also be eligible for a welcome bonus of up to £100, which can elevate the rate to the equivalent of as much as 2.15% for the year, depending on the amount deposited.

There are also a couple of Sharia-compliant 12 month term bonds that match or beat this return of 2.15% gross/AER. BLME’s 1 Year Premier Deposit Account is paying an expected profit rate (EPR) of 2.20% gross/AER and Al Rayan Bank is paying 2.15% gross/AER on its 12 Month Fixed Term Deposit.

Via the Raisin UK platform, Sharia-compliant provider, QIB (UK) plc has a 12 month bond paying 2.05% gross/AER*. With the welcome bonus, that can mean an overall return of up to 2.25% gross/AER.

As ever, the secret to making your cash work as hard as possible is to shop around to find the best accounts for your needs.

For more information, take a look at our Fixed Rate Bond table and our Sharia Fixed Term Accounts best buy table or call one of our savings experts on 0800 011 9705.

*We are occasionally paid by some providers if you click through from our Best Buy Tables and open a savings or current account with them. We will never accept a payment that compromises in any way our independent, whole of market approach to providing information on savings products. For clarity we will indicate those companies who remunerate us with an asterisk (*).

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