Fixed Rate Bonds

Make your money work harder for you with a Hodge fixed rate bond.

Our products

Choose from a range of fixed term bonds, from as little as one to as many as five years.

Take a look at our Fixed Rate Bonds

1 Year Fixed Rate Bond – Online Only  (5.16%)

2 Year Fixed Rate Bond – Online Only  (4.97%)

3 Year Fixed Rate Bond – Online Only  (4.74%)

5 Year Fixed Rate Bond – Online Only  (4.58%)

About our Fixed Rate Bonds

If you’re looking to let your money work for you, a personal fixed bond could be just what you need. 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.

What is a Fixed Rate Bond?

A fixed rate 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 benefit from a higher interest rate than other types of savings accounts.   

How do Fixed Rate Bonds work?

You’ll be given your interest rate in advance, and the longer you can lock away your cash, the higher your interest rate will likely be. You can apply for a Hodge fixed rate bond online in about 10 minutes, and once open, you’ll have 14 days to fund your account.  

How does a fixed rate work?

A ‘fixed rate’ is a guaranteed interest rate for a set length of time, during that time, you won’t be able to access your money. Usually, the longer the fixed rate period, the higher the interest rate, making it great for those with long term savings goals. 

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
  • There’s no cancellation period – once you’ve added your money, you won’t be able to withdraw it until the end of your term
  • 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
  • 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.

 

Fixed Rate Bonds explained

More on Fixed Rate Bonds

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. 

Anyone depositing a lump sum of at least £1,000 can take advantage of our fixed rate savings bondsHowever, 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.  

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.

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 

Useful Information

Protecting your money

Your eligible deposits with Hodge Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme.

Terms and conditions

You can download our savings account terms and conditions below.