Best fixed rate bonds right now: Savers offered 5.50 per cent interest rate if they lock cash away

While the best fixed rate bond deals have shot up since 2021, the interest rates have been slipping of late, data from Moneyfactscompare.co.uk shows.

In December 2021, the top one-year fixed rate bond paid an expected profit rate of 1.41 per cent.

A year later, the best one-year fixed rate bond had an interest rate of 4.32 per cent.

In November this year, Metro Bank was the top payer for one-year fixed rate bonds, at 5.91 per cent.

While it was still offering the highest interest rate for this type of product, the rate had dropped to 5.66 per cent last week.

GB News has compiled a list of some of the best fixed rate bonds, based on Moneyfactscompare.co.uk figures, for a lump sum of £10,000.

Best fixed rate bonds up to one year

• Hampshire Trust Bank 6 Month (Issue 8) – 5.48 per cent AER (six month bond)
• ICICI Bank UK SuperSaver Bond – 5.45 per cent AER (six month bond)
• Bank of London and The Middle East Premier Deposit Account (Anticipated Profit Rate) – 5.27 per cent expected rate (six month bond)
• ICICI Bank UK HiSAVE Fixed Rate Account – 5.22 per cent AER (six month bond)
• Zenith Bank (UK) Ltd 6 Month Fixed Term Deposit – 5.20 per cent AER (six month bond)
• Cynergy Bank Fixed Rate Bond – 5.12 per cent AER (six month bond)
• National Bank of Egypt (UK) Limited Raisin UK - 6 Month Fixed Term Deposit – 5.11 per cent (six month bond)
• National Bank of Egypt (UK) Limited Raisin UK - 9 Month Fixed Term Deposit – 5.08 per cent AER (nine month bond)
• FCMB Bank (UK) Raisin UK - 6 Month Fixed Term Deposit – 5.06 per cent AER (six month bond)
• FCMB Bank (UK) Raisin UK - 9 Month Fixed Term Deposit – 5.03 per cent (nine month bond)

Best one year fixed rate bonds

• ICICI Bank UK SuperSaver Bond – 5.50 per cent AER
• Reliance Bank 1 Year Fixed Term Deposit – 5.50 per cent AER
• Al Rayan Bank 12 Month Fixed Term Deposit – 5.50 per cent expected rate
• Bank of London and The Middle East Premier Deposit Account (Anticipated Profit Rate) – 5.35 per cent expected rate
• Union Bank of India (UK) Ltd Fixed Rate Deposit – 5.35 per cent AER
• Union Bank of India (UK) Ltd Union Premier Bond – 5.35 per cent AER
• Investec Bank plc 1-Year Fixed Rate Saver – 5.30 per cent AER
• Ikano Bank Fixed 1 Year Saver Account – 5.30 per cent AER
• Hanley Economic Building Society Online Fixed Rate Bond - Issue 232 - 5.30 per cent AER

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Best two year fixed rate bonds

• Union Bank of India (UK) Ltd Fixed Rate Deposit – 5.40 per cent AER
• Union Bank of India (UK) Ltd Union Premier Bond – 5.40 per cent AER
• Hanley Economic Building Society Fixed Rate Bond - Issue 227 – 5.25 per cent AER
• Reliance Bank 2 Year Fixed Term Deposit – 5.25 per cent AER
• Loughborough Building Society Two Year Fixed Rate Bond - Issue 132 – 5.15 per cent AER
• Secure Trust Bank 2 Year Fixed Rate Bond (19.Jan.26) – 5.11 per cent AER
• iFAST Global Bank Fixed Term Deposit – 5.10 per cent AER
• Investec Bank plc 2-Year Fixed Rate Saver – 5.05 per cent AER
• Al Rayan Bank 24 Month Fixed Term Deposit – 5.05 per cent expected rate