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5 Year Fixed

Provider Rate Min/Max Deposit Opening Account Accessing Account Interest Options SG Verdict
BLME
1.50% £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.    

Cambridge Building Society
1.10% £500 / £2m

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Paid 31st December

- Competitive rate from Cambridge, which is the 13th largest building society in the UK looking after over £1.24bn of deposits, and who are one of the few providers to have their own savings app

Close Brothers
1.30% £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

Furness Building Society
1.10% £1,000 / £500,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Anniversary
  • Paid Away or Compounded
  • Paid Annually
  • Added to the account

Furness Building Society is based in Barrow-in-Furness and was founded in 1865.  It looks after £920m of savers deposits.

Gatehouse Bank
1.20% £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. 

Hodge Bank
1.10% £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 over £1bn of deposits.

Ikano Bank
1.41% £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.

JN Bank
1.30% £1,000 / £250,000

Branch
App
Internet
Post
Telephone

Branch
App
Internet
Post
Telephone

  • Paid Annually
  • Added to the account

JN Bank are the first Carribean bank to be authorised in the UK and launched on 8th October 2020.

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 £6bn 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.

United Trust Bank
1.15% £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
1.10% £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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