The five best short term fixed rate bond providers

Author: Anna Bowes
04th January 2019

With 150 UK banks and building societies offering savings accounts, it can be a daunting task to choose the right provider and account for your needs. So, we have put together a list of our top five short term fixed rate bond providers, to help savers who are looking to earn more interest on their savings.

Savings Champion 2019 Awards

We all know that the high street banks treat us with little regard when it comes to our savings, but with so much choice, many savers leave their funds languishing, earning a pittance, for fear of jumping from the frying pan into the fire.

The FCA has been investigating how to encourage more people to switch, by considering the introduction of a Basic Savings Rate and the Competition and Markets Authority (CMA) has even waded in, recognising that those who are loyal to banks, insurers, lenders, mobile phone operators and other companies in the financial services sector, are often being ripped off.

Our annual awards help to point savers in the direction of providers that treat their customers much better.

They acknowledge excellence in a wide range of categories, looking at those banks and building societies that have consistently offered best buy rates, provided excellent customer service and promoted competition in the savings market over the last 12 months.

Here is the list of our Top Five providers which include the winner and runners up for the 2019 Best Short Term Fixed Rate Bond Provider Award, including some of the best rates you can currently get from each.

 

Winner – Atom Bank

As an app-only provider, Atom will not be right for everyone - but has consistently offered savers some of the very best short-term fixed rate bonds on the market. Often found at the top of the pile throughout 2018, particularly with its one year bonds, the provider is currently joint first place in our one year table, paying 2.05% gross/AER, with its 2 year bond in second place behind Investec Bank, paying 2.30% gross/AER.

➡️ Atom Bank 1 year Fixed Saver (2.05%)

➡️ Atom Bank 2 year Fixed Saver (2.30%)


Highly Commended – Secure Trust Bank

Once again to be regularly found offering highly competitive rates, especially in our two year best buy table, Secure Trust is a provider that often launches accounts that come right in at the top. At the moment, the provider doesn’t have any short term bonds available but it is a name to look out for and snap up when it enters our tables with great offerings.

➡️ Fixed rate bonds best buy table

✔️ Rate Alerts: receive updates when new competitive accounts hit the market


And the finalists who missed out by a whisker:

Finalist - OakNorth Bank

Sometimes it is a case of blink and you’ll miss it, as this provider tends to offer a top rate for a short period of time. However, for those who regularly keep up to date with the comings and goings in the savings market via our Rate Alerts, this provider is one to watch out for.

As long as you act quickly, there is every chance you could pick up a top deal.

➡️ Fixed rate bonds best buy table

✔️ Rate Alerts: receive updates when new competitive accounts hit the market


Finalist - Paragon

Paragon often hits the headlines for the right reasons and has performed well over a number of categories in our 2019 savings awards. A provider that has been recognised not only for its generally competitive rates but also for its treatment of existing customers, means that it is worth keeping an eye on.

Its top one year (1.92% gross/AER) and two year (2.20% gross/AER) fixed rate bonds are currently outside of the top five, but not too far behind.

➡️ Paragon 1 Year Fixed Rate (1.92%)

➡️ Paragon 2 Year Fixed Rate (2.20%)


Finalist - Investec

Another consistent performer in this area of the market over the last 12 months, Investec is currently featuring at the top of our one and two year best buy tables – paying 2.05% gross/AER and 2.35% gross/AER respectively.

While requiring a higher opening deposit (£25,000) than many others in our table, there is the option for monthly interest, for those who require a regular income from their savings.

➡️ Investec 1 Year Fixed Term Deposit (2.05%)

➡️ Investec 2 Year Fixed Term Deposit (2.35%)


So, while it’s always wise to consult our best buy tables for those that are offering the best rates, hopefully our awards can help give you the peace of mind that if you choose one of these top five short term fixed rate bond providers, you shouldn’t be too far off the mark.

Of course, we have our freephone number for anyone who would like help choosing their perfect provider. Call our savings experts on 0800 011 9705.


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