Why Shawbrook?
Here are just a few reasons why...
Why a Fixed Rate Bond could be for you
Plan for the long term with a guaranteed return on your savings
Our Fixed Rate Bond Accounts
We’ve found 7 accounts for you
3 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
1 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
5 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
9 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
18 Month Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
2 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
7 Year Fixed Rate Bond
A fixed rate for the term. Your money is locked in for the term of the bond.
Terms explained
AER stands for Annual Equivalent Rate and illustrates the interest rate if it was paid and compounded each year. We quote the AER on all of our accounts so that you can compare our products with those of other banks. GROSS is the interest rate without the deduction of income tax. This is the interest rate paid on your account. Terms & Conditions for Personal Accounts
Financial Services Compensation Scheme (FSCS)
Your eligible deposits with Shawbrook Bank Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Joint accounts are protected up to £170,000. Any deposits you hold above the limit are unlikely to be covered. For further information visit www.fscs.org.uk
See how much you could earn
Use our savings calculator to see how much interest you could earn in a year, shown in pounds, to help you compare our savings accounts.
What is a Fixed Rate Bond?
A Fixed Rate Bond is a savings account where your money is locked away for a set period, earning a fixed interest rate. Unlike variable rate accounts, the interest rate does not change, so you know exactly how much your money will grow.
Fixed Rate Bonds At Shawbrook:
- Can be opened as either individual or joint accounts
- Term lengths available from 9 months to 7 years
- The maximum account balance is £2 million
Fixed Rate Bonds are perfect for savers who want a predictable return and can leave their funds untouched during the term.
Fixed Rate Bonds and Fixed Rate Cash ISAs
Fixed Rate Bonds are a type of Fixed Rate Savings Account. They offer protection against interest rate changes for a specified term, but restrict access to funds until maturity.
Fixed Rate Cash ISAs are another type of Fixed Rate Savings Account. They offer a fixed interest rate in addition to tax-free savings. You can make withdrawals before maturity, but this will be subject to a loss of interest, known as an early exit charge.
How does a Fixed Rate Bond work?
A Shawbrook Fixed Rate Bond is a savings account that locks your money away for a set period, offering a fixed interest rate.
- Deposit Limits: Deposits can be made until the version you have (issue number) is withdrawn for new customers. After the product is withdrawn, you have seven working days to make any further deposits. After this time, you can apply to open a new Fixed Rate Bond.
- Withdrawal Limits: With a Fixed Rate Bond, access to funds is restricted until the maturity date, making it essential to plan ahead.
- Interest Payment: Interest earned on a Fixed Rate Bond can be paid out either monthly or annually, depending on your preference.
- Tax Implications: The interest earned on a Fixed Rate Bond may be subject to income tax, depending on your personal circumstances, including your Personal Savings Allowance.
A Fixed Rate Bond is ideal for savers seeking protection against interest rate fluctuations.
Fixed Interest Rates
Interest is the money earned on the savings you deposit. A fixed interest rate on a savings account is a rate that remains unchanged for a specified term. The fixed rate is based on market conditions and economic factors at the time the account is opened. This means you'll earn a set amount of interest, regardless of market changes, offering predictable returns on your savings.
Pros and cons of a Fixed Rate Bond
A Fixed Rate Bond offers a fixed interest rate and protection against market fluctuations, helping you predict your savings growth. However, access to funds is restricted until the end of the agreed term, which may not suit savers who need flexibility or quick access to their money.
Is a Fixed Rate Bond not suitable for your needs?
Alternatives to Fixed Rate Bonds
Shawbrook offers various alternatives to Fixed Rate Bonds, including:
- Cash ISAs easy access or fixed rate options for tax-free savings
- Easy Access Accounts for flexible withdrawals
- Notice Savings Accounts for planned access
Find the perfect product to suit your financial needs with Shawbrook.
Explore our other products
Savings Accounts
At Shawbrook, it’s all about saving smarter, not harder.We have a range of savings accounts to suit your needs. Consistently great rates, award-winning products and FSCS protected.
Cash ISAs
Easy access or fixed rate on your ISA account – it’s up to you.Invest up to £20,000 tax-free each year and choose from easy access or fixed rate accounts.
Easy Access accounts
Discover Easy Access savings with a competitive rate.Withdraw your money whenever you need it – open as a sole or joint account.
Notice savings accounts
Open a Notice savings account with as little as £1,000.Enjoy more flexibility than a fixed rate bond and choose a 45 or 120-day notice period.
Help
Below are some of the most common queries about our savings accounts.
The differences between a Fixed Rate Cash ISA and a Fixed Rate Bond
Shawbrook Fixed Rate Cash ISAs and Fixed Rate Bonds both offer fixed interest rates for a set period. However, there are a few key differences between the two options.
Tax Benefits
Fixed Rate Cash ISAs provide tax advantages as the interest earned is tax-free. In contrast, the interest earned on Fixed Rate Bonds may be subject to income tax, depending on your personal circumstances, including your Personal Savings Allowance.
- For more information, visit our 2024/2025 Cash ISA Allowance page.
- For more information, visit out Personal Savings Allowance page.
Withdrawal Limits
If you have a Fixed Rate Cash ISA, you can make withdrawals or close your account before maturity, but this will be subject to a loss of interest, known as an early exit charge. Conversely, with a Fixed Rate Bond, access to funds is restricted until the maturity date.
- For more information, visit our Withdrawing Money from ISAs page.
Account Funding
A Fixed Rate Cash ISA allows for tax-free savings on the interest earned. The £20,000 Annual ISA Allowance can be utilised each tax year.
ISA Transfers at Shawbrook
Balances from other ISAs held with Shawbrook (active or maturing) may be transferred in at any point during the term
Transfers from other providers are permitted, but must be completed at the time of account opening
With a Shawbrook Fixed Rate Cash ISA, unlimited deposits can be made up to a maximum account balance of £250,000.
- For more information, visit our 2024/2025 Cash ISA Allowance page.
- For more information, visit our Transferring an ISA to Shawbrook Bank page.
With a Shawbrook Fixed Rate Bond, deposits can be made up the maximum account balance of £2,000,000 until the product you have (the issue number) is withdrawn and replaced, which can happen at any time.
After the product is withdrawn you have seven working days to make any further deposits. Alternatively, you can apply to open a new Fixed Rate Bond.
Joint Accounts
Fixed Rate Cash ISAs must be opened in individual names due to their tax-free status linked to the individual taxpayer. Fixed Rate Bonds can be opened as either individual or joint accounts, offering more flexibility for joint savers.
By understanding these differences, you can choose the savings product that best suits your financial goals.
- For more information, visit our Fixed Rate Savings page
How do I open an account?
If you do not have a Shawbrook account you can open on our website by selecting Learn more and apply next to the account you'd like.
All our applications are subject to eligibility and verification of your identity. If we need more information from you to complete our checks and set up your account, a member of our team will be in touch within five working days from the submission of application.
If you already have a Shawbrook account you can open another one easily from your online account. Log in, compare accounts and apply in a few steps.
Can I choose how my interest is paid?
Yes, you can. Interest can be credited to your account with us or paid to your linked (nominated) account. When applying for your savings account we will ask you to choose:
- where to pay your interest
- when to pay it (monthly or annually)
If you already have an account and want to change how you receive interest, please log in and send us a message or call us on 0345 266 6611. We’re open from 9am to 5pm, Monday to Friday, excluding bank holidays.
Do you have minimum or maximum balance requirements?
Yes. The balance requirements vary by product, so you should check this information on the product you wish to apply for.
If you already have a savings account with us, all of this information will be in your welcome email.
Need more help?
We have a range of information to help you understand savings including how our products work, operating your account and getting in touch with our team.
Award-winning savings
Make sense of savings
Depositing & withdrawing from your account
Find out how to make a deposit and withdrawal from your savings account.
Savings accounts for your business
Make your cash work as hard as you do. If your business is in the enviable position of having some spare cash to hand - even if it’s for a finite period of time - it makes sense to get it working for you. At Shawbrook we have a range of solutions designed to suit the needs of your business.