2 Year Fixed | The Savings Guru

2 Year Fixed

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	SG Verdict
Aldermore	1.36%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually	Peterborough based Aldermore launched in 2009 and look after over £10bn of deposits. Aldermore were bought by South Africa's FirstRand in 2018.
Allica Bank	1.25%	£1,000 / £250,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Monthly Paid Annually Paid On Maturity	Allica are based in Milton Keynes and were awarded their banking licence in 2019 and launched in April 2020.
BLME	1.30%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid On Maturity	This account pays expected profit, rather than interest, to meet Sharia law requirements.
Charter Savings Bank	1.31%	£5,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Away or Compounded Paid Monthly Paid Annually	Wolverhampton based Charter Savings is part of Chartercourt Financial Services. Charter Savings launched in 2015. It has grown to hold over £5bn of savers money since launch
Gatehouse Bank	1.25%	£1,000 / £85,000	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.
Hodge Bank	1.25%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually Annual interest paid 31st March	Hodge bank is based in South Wales and was authorised in 1987. It looks after just under £1bn of deposits.
Kent Reliance	1.25%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually Monthly interest paid on the last working day of the month Annual interest paid on 5th April	Competitive rate from Kent Reliance, part of One Savings Bank, which is listed on the FTSE 250. The wide range of options to manage the account is likely to appeal to many savers as will the ability to access money during the term, albeit with the loss of 180 days interest.
Oak North	1.31%	£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 as we don't expect this rate to last beyond the end of August
Paragon Bank	1.35%	£1,000 / £100,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Away or Compounded Paid Monthly Paid Annually	Birmingham based Paragon launched in 2014 and now look after over £6bn of savings
Secure Trust	1.35%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Annually Paid 31st December	Birmingham based Secure Trust Bank look after over £2bn of deposits. Their products tend not to be able for long so move quickly if this rate appeals. This bond has a fixed maturity date of 28th October 2022.
SmartSaveBank	1.29%	£10,000 / £85,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Annually Paid Compounded	Wrexham based Chetwood Financial got its banking licence at the end of 2018 following a £40m investment from Elliott Advisors. It lends its money to consumers via ‘dynamic loans’ which adapts the rate as consumer’s credit scores improve
United Trust Bank	1.30%	£5,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid On Maturity	London based specialist lender United Trust has a single branch in Moorgate and allows 14 days to fund the account.
Zopa Bank	1.30%	£1,000 / £250,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly Paid Compounded	Zopa started life as a peer to peer lending business in 2005 but became a licensed bank in 2019 and launched their first savings accounts in August 2020.

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