Best Fixed Rate Bonds
Best Fixed Rate Bonds
If you have a lump sum to invest and you don't really need to have access to your money, a fixed rate bond could be the savings account for you. With a fixed rate bond, you know exactly how much interest your money will earn, giving you a risk free return on your investment. The best fixed rate bonds providers should offer:
- A choice of fixed rate terms – usually between 1 and 5 years
- A choice of investment level – usually between £1,000 and £250,000
- A guaranteed return on your money
- A choice of having your interest paid monthly or annually
Many banks and building societies will also offer online banking so you can manage your account with ease, as well as emergency access to your money, should you need it in a hurry, although you should remember that if you try and access your money before the term is up, you will usually have to pay a penalty.
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