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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

Shawbrook Bank
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 Bank
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 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.

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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