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18 Month Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
Al Rayan Bank
1.31% £1,000 / No Maximum

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Quarterly

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Those savers comfortable with this are likely to be attracted by the variety of channels to open and manage their account 

BLME
1.40% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid Away

This account pays expected profit, rather than interest, to meet Sharia law requirements.  

Investec
1.30% £25,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Monthly
  • Paid Annually
  • Paid Away

The minimum investment of £25,000 may limit interest for some savers on this product.

Metro Bank
1.25% £500 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Monthly
  • Paid Annually

Metro Bank has 60 branches across the UK and has grown its customer deposits to £14.8bn, since its launch in 2008    

OakNorth Bank
1.34% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid On Maturity

OakNorth launched in 2015 and offers debt and property finance to UK small and medium size enterprises 

OakNorth change their rates frequently so move quickly if this rate appeals

Progressive Building Society
0.65% £500 / £1m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Annually

Based in Belfast, Progressive was founded in 1914 and is the 12th largest building society in the UK looking after £1.56bn of deposits

Shawbrook Bank
1.20% £1,000 / £2,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Annually

Competitive rate from Essex based Shawbrook, who are one of the few banks to consistently offer an 18 month term product. 

Shawbrook launched in 2011 and look after over £6bn of deposits

Union Bank of India
1.05% £1,000 / £1,000,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid On Maturity

First entry in our 18 month tables from Union Bank of India (UK), which is a subsidiary of Union Bank of India, one of the largest public sector banks in India

About The Savings Guru

We help savers get the best deal for their money by providing unique insight in to the savings market.  We help prospective banks apply for a banking licence and we help build customer services, products and marketing for them.  We also work with existing banks and building societies to improve their savings propositions.  This  insider view of savings means we are uniquely placed to help savers.

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