Ulster Bank Fixed Rate Bonds

If you have a sum of money you wish to lock away for a predefined period of time you may be wondering what an Ulster Bank fixed rate bond could offer you. Before you decide if it is the right choice for you however you can use the comparison table below to look at a range of bonds from different providers which might help you decide which one is the best for you:

Fixed Rate Bond Selection
ProviderAccountInterest Rate (AER)TermApply
3.15%5 yearsMore Info >
  • Earn 3.15% AER for deposits from £5,000.
  • Guaranteed rate of interest for term of investment.
  • Interest paid annually or upon maturity
  • Sterling denominated
  • Please note all deposits held by Agribank are solely invested in the UK to support British farmers
  • Covered by the Malta Depositor Compensation Scheme
  • Must be UK resident and aged 18 or older
  • Must be funded from a UK bank account
3.00%5 YearsMore Info >
  • Save from £10,000 to £1,000,000
  • Manage your account in branch or online  
  • Interest paid monthly, annually or on maturity
  • Sole or joint accounts available
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be aged 18 or over and a UK resident
  • No additional deposits or withdrawals permitted during the term

2.35%4 YearsMore Info >
  • Earn 2.35% gross/AER fixed for 4 years
  • Save from £1,000 - £250,000
  • Monthly and annual interest options
  • Online savings account 
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals allowed
  • Bond designed to be held for full term
2.50%5 YearMore Info >
  • Manage your account online, by phone or post
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • Minimum opening balance of £1,000
  • No withdrawals
2.35%3 yearsMore Info >
  • Minimum opening balance of £10,000, up to a maximum balance of £1,000,000
  • Interest paid annually
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
2.45%4 YearMore Info >
  • Manage your account online, by phone or post
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • Minimum opening balance of £1,000
  • No withdrawals
2.20%3 YearsMore Info >
  • Earn 2.20% gross/AER fixed for 3 years
  • Save from £1,000 - £250,000
  • Monthly and annual interest options
  • Online savings account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals allowed
  • Bond designed to be held for full term
2.40%3 YearMore Info >
  • Manage your account online, by phone or post
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • Minimum opening balance of £1,000
  • No withdrawals
2.40%2 yearsMore Info >
  • Earn 2.40% AER/gross fixed for 2 years.
  • Minimum opening balance of £5,000; maximum balance £500,000.
  • Interest paid on maturity
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No additional deposits or withdrawals permitted.
1.95%2 YearMore Info >
  • Manage your account online, by phone or post
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • Minimum opening balance of £1,000
  • No withdrawals
2.15%2 yearsMore Info >
  • Earn 2.15% AER for deposits between £1,000 and £200,000.
  • Minimum opening balance of £1,000; maximum balance £200,000.
  • Interest paid monthly, quarterly or at maturity
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
2.05%2 yearMore Info >
  • Minimum opening balance of £10,000, up to a maximum balance of £1,000,000
  • Interest paid annually
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
2.45%3 yearsMore Info >
  • Earn 2.45% AER for deposits between £1,000 and £200,000.
  • Minimum opening balance of £1,000; maximum balance £200,000.
  • Interest paid monthly, quarterly or at maturity
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
2.00%1 YearMore Info >
  • Manage your account online, by phone or post
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • Minimum opening balance of £1,000
  • No withdrawals
1.70%1 yearMore Info >
  • Minimum opening balance of £10,000, up to a maximum balance of £1,000,000
  • Interest paid annually
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
2.00%1 yearMore Info >
  • Earn 2.00% AER/gross fixed for 1 year.
  • Minimum opening balance of £5,000; maximum balance £500,000.
  • Interest paid on maturity
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No additional deposits or withdrawals permitted.
1.40%1 yearMore Info >
  • Earn 1.40% AER for deposits between £1,000 and £200,000.
  • Minimum opening balance of £1,000; maximum balance £200,000.
  • Interest paid monthly, quarterly or at maturity
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
1.25%6 monthsMore Info >
  • Minimum opening balance of £10,000, up to a maximum balance of £1,000,000
  • Interest paid on maturity
  • Available as a single or joint account
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted.
Short Term Fixed Rate Bonds (0-2 years)
ProviderAccountInterest Rate (AER)TermApply
1.00%2 yearsApply Now >
  • Earn 1.00% Gross (1.00% AER) fixed for 2 years
  • Deposits are 100% guaranteed by Santander UK plc
  • Interest can be paid gross - subject to eligibility
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • No withdrawals allowed during the term
  • Minimum deposit of £50,000
  • Arrangement fee of £250
0.75%1 yearApply Now >
  • Earn 0.75% gross/AER fixed for 1 year
  • Deposits are 100% guaranteed by Santander UK plc
  • Interest can be paid gross - subject to eligibility
  • Covered by the FSCS (Financial Services Compensation Scheme)
  • No withdrawals allowed during the term
  • Minimum deposit of £50,000
  • Arrangement fee of £250

Ulster Bank fixed rate bonds key facts:

  • Available to both new and existing customers of Ulster Bank
  • You need to be aged 18 or over and a resident of the United Kingdom
  • Minimum balance of £10,000
  • Maximum balance of £500,000
  • No withdrawals can be made during the bond’s term
  • Gross interest is calculated on a 365 day basis
  • Interest is paid at the end of the term
  • Applications can be made online, over the phone or in the branch
  • You will need to open an instant access account (i.e. an account that does not require notice of withdrawal) with Ulster bank in the same name as the Fixed Term Deposit
  • Early closure may only be possible in exceptional circumstances but they will incur a charge.

 

As opening a fixed rate bond requires you to lock your savings into the investment for a set period of time before you do so it is a good idea to shop around to compare the market to see if you can find the best plan for your specific circumstances.

 

You might also want to consider alternative savings plan as well to see if they could better suit your needs.

 

Alternative plans include:

  • Tracker Bonds – another type of bond, unlike a fixed rate bond the interest rate you receive on the bond can vary over its course in response to changes made to the Base Rate by the bank of England which it tracks.

 

  • Structured Deposits - this type of plan also requires you to lock up your funds for a period of time however it is not a bond and you are not guaranteed to receive interest on your investment. Structured deposits are normally tied to an index like the FTSE 100.  They generally offer better potential interest rates than fixed rate bonds or instant access savings accounts, however you will only receive interest if over the bonds course the index or indices the plan is tied to performs in a way that fufils the criteria set out in the terms and conditions of the plan, if it does back at the end of the term you will just receive back the amount you originally invested.

 

  • Savings Accounts - You may also wish to consider an instant access savings account, they generally offer lower rates of interest than a lender’s fixed rate bond offering but you are usually permitted to make unlimited withdrawals.