Other aspects of Co-operative Bank fixed rate bonds to consider include:
- Deposits from £1,000 to £1million
- A safe home for your money
- Guaranteed interest rates for the chosen term
- Can be opened as a single, joint or 'Re' account
Before you make your mind up about Co-operative Bank fixed rate bonds, check out other leading UK deals. Use the tables above to see if there’s a fixed rate bond that fits your needs.
As with most bonds you lose access to your money for a fixed period of time, and may end up with less in return if you close them early. Therefore shopping around before you take one out is a wise decision.
Other types of plan you may wish to think about
- Tracker bonds – Another type of bond so they share many of the features of a Fixed Rate bond. The key difference is that the amount of interest your bond accumulated can vary in response to changes in the Base Rate set by the Bank of England, rather than being consistent as with a fixed rate. This means if the base rate does improve you will benefit from a better interest rate, however if it falls you will earn less interest.
- Structured Deposits – Like a bond a structured deposit requires you to lock up your funds for a period of time. This type of plan is normally tied to an index such as the FTSE 100. If over the plan the index or indices perform in a certain way you will receive your original investment back plus an interest payment typically larger than those offered by bonds or savings accounts. However if it does not perform in a certain way set out at the start of the plan you will receive your investment back but will no gains on it, so it is a risk that needs to be carefully considered beforehand.
- Savings Account – If you are looking for a way to earn interest on your savings while still maintaining the ability to make withdrawals then an instant access savings account may be a suitable alternative to a bond or deposit. Although they usually provide lower rates of interest than other plans most of them will let you make unlimited free withdrawals.