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Our products
Choose from a range of fixed term bonds, from as little as one to as many as five years.
Fixed Rate Bonds explained
Considering a Fixed rate bond? In under two minutes, we'll explain all you need to know, how they work and how they could benefit your savings plans.
About our Fixed Rate Bonds
Our fixed rate saving accounts can often give you better interest rates than our other accounts, but there’s a few things you’ll need to consider before opening one.
Key features
- Choose a 1, 2, 3, or 5 year term
- Deposit a minimum of £1,000 up to £1,000,000 within 14 days of opening your account
- Get a guaranteed interest rate when you apply
- Open and manage your account online
- Opt to have interest paid annually or monthly, into either your savings account or your nominated bank account
The details
- Your interest rate is guaranteed – even if we change our rates, the rate you’re given when you apply is the one you’ll get for the full term
- You have 14 days to fund your account – after those 14 days, you won’t be able to add any more money. If don’t add the minimum amount of £1,000 in time, we’ll close your account
- You can only transfer money from a nominated account in your name– let us know your nominated bank account at time of opening, then transfer the money directly from that account. The quickest way is via electronic transfer
- There’s a 14 day cancellation period – if you change your mind, you can cancel your Fixed Rate Bond within 14 days of opening it
- Your money is locked away for the full term – you won’t be able to withdraw, transfer or close your account during the term of your bond, only once the term is up
- We’ll be in touch at the end of your term – let us know if you want to re-invest, transfer or withdraw your money. If we don’t hear from you, your funds will be transferred into a maturity holding account.
Terms and Conditions
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Protecting your money
Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.
FAQs
Find out more about our Fixed Rate Bonds savings accounts.
There are a few great benefits to putting your cash into fixed bond savings, including:
- The longer you save, the more you save: If you can part with your cash for a longer amount of time, you’ll often get better interest rates. This makes it a great option if you’re depositing a big lump sum that you won’t need to access.
- Higher interest rates: Because we know how long your money will be with us, we can often offer you higher interest rates than our other accounts.
- FSCS protection: up to £85,000 is protected by the Financial Services Compensation Scheme (FSCS), so you can be rest assured that your money’s safe and secure.
We can’t accept joint applications for fixed rate bonds at the moment. We’re working hard to make this possible via our online platform, and hope to make the necessary changes in the near future.
Anyone depositing a lump sum of at least £1,000 can take advantage of our fixed rate savings bonds. However, you should only consider this type of savings account if you won’t need to access your money for a fixed period. Additionally, if you’re a regular saver, fixed bond savings may not be suited to you as, after opening your account, you’ll have a set period of time to deposit your money, then after that you won’t be able to add anything else.
A fixed bond savings account allows you to put your cash away for a set amount of time where it’ll earn a fixed amount of interest. During this period, you won’t be able to access your money, but you may get to benefit from a higher interest rate than our other types of savings accounts.
Fixed rate savings bonds are usually best suited to those depositing a large amount of money. The longer your fixed term, the higher interest rates you’ll unlock – allowing you to really let your money do all the heavy lifting.
