5 Year Fixed | The Savings Guru

5 Year Fixed

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	SG Verdict
BLME	1.10%	£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.
Close Brothers	1.15%	£10,000 / £2,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Annually Paid Away	Close has been trading since 1878, is listed on the FTSE 250 and looks after £5.5bn of savings
Gatehouse Bank	1.50%	£1,000 / £85,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Annually Paid Away	This account pays expected profit, rather than interest, to meet Sharia law requirements.
Ikano Bank	1.11%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Away or Compounded	Ikano Bank is owned by the Kamprad family who founded Ikea. Ikano tend to be more competitive for longer term fixed rate bonds. Deposits are protected by the Swedish Deposit Insurance Scheme up to £85,000.
Progressive Building Society	1.00%	£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
https://www.shawbrook.co.uk/direct/savings/personal-savings/fixed-term-accounts/5-year-fixed-rate/	1.25%	£1,000 / £2,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Annually Paid Compounded Paid on monthly or annual anniversary of account opening	Competitive rate from Essex based Shawbrook, who launched in 2011 and look after over £7bn of deposits
UBL	1.25%	£2,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Monthly Paid Annually Paid Away	United Bank UK, which was formed in 2001 from the merger of two Pakistani banks, has branches in Ilford, Bradford, Birmingham, Glasgow Manchester and London.
Union Bank of India	1.00%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid On Maturity	Union Bank of India (UK) is a subsidiary of Union Bank of India, one of the largest public sector banks in India
United Trust	1.10%	£5,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Annually	Competitive rate from London based specialist lender United Trust. Savers should note that, while this account can be opened online, it can only be managed by post or at UTB’s branch in Moorgate, London
Vanquis Savings Bank	1.00%	£1,000 / £250,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Away or Compounded Paid Monthly Paid Annually	Vanquis Bank is part of the Provident Financial Group, which was founded in 2002
Zopa Bank	1.05%	£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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