5 Year Fixed | The Savings Guru

5 Year Fixed

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	SG Verdict
Aldermore Bank	1.45%	£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.
BLME	1.60%	£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.
Charter Savings Bank	1.40%	£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	1.40%	£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.
A Hodge Bank	1.40%	£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.
A Ikano Bank	1.36%	£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.
OakNorth Bank	1.36%	£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
A Paragon Bank	1.40%	£1,000 / £100,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Anniversary Paid Away or Compounded Paid Monthly Paid Annually	Competitive rate from Birmingham based Paragon who now have over £6bn of savings deposits.
UBL	1.50%	£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.
United Trust	1.40%	£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
Zopa Bank	1.40%	£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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