Fixed rate bonds.
Fixed rate bond
Put away for a set amount of time with a fixed rate bond.
You know where you are with a fixed rate bond. The interest rate you get for your savings won’t go up or down for the duration of your savings product, so you can get on with life and let the interest grow.
In return for a fixed rate of interest you’ll likely have little or no access to your funds before the set end date, so make sure you’re comfortable with locking your funds away for a period of time.
Account Name
Rate
Access Type
Withdrawals
Balance Restrictions
Type
Full Details
Online 1 Year Fixed Rate Bond (31.01.2025)
Get a fixed rate of interest when you lock away your pot for a year.
Fixed
Get a fixed rate of interest when you lock away your pot for a year.
Rate
5.15%
*Gross/**AER
Rate Term
Online
Withdrawals
No withdrawals until end of term
Minimum Balance
£100 – £75,000
Fixed
1 Year Fixed Rate Bond (31.01.2025)
Get a fixed rate of interest when you lock away your pot for a year.
Fixed
Get a fixed rate of interest when you lock away your pot for a year.
Rate
5.15%
Gross*/AER**
Rate Term
Branch
Withdrawals
No withdrawals until end of term
Minimum Balance
£100 – £200,000
Fixed
2 Year Fixed Rate Bond (31.01.2026)
Lock away your savings for 2 years with a fixed rate of interest.
Fixed
Lock away your savings for 2 years with a fixed rate of interest.
Rate
5.15%
Gross*/AER**
Rate Term
Branch
Withdrawals
No withdrawals until end of term
Minimum Balance
£100 – £200,000
Fixed
*Gross
The rate paid with no income tax deducted. For more information on your Personal Savings Allowance, please refer to www.gov.uk
**AER (Annual Equivalent Rate)
A notional rate which illustrates what the gross rate would be if the interest was paid and compounded once each year.
Guaranteed interest rate
Find a fixed rate bond that suits you.
Using our handy savings account finder you can look at our range of currently available fixed rate accounts and find out our fixed interest rates. You will be able to view our full range of accounts including any tax free Cash ISA options we may have available.
When it comes to saving the only thing better than seeing your money build up is seeing the interest on top. Our easy to use interest calculator will show you how much interest you could earn.
FAQs
Frequently asked questions about fixed rate bonds.
With a fixed rate savings account this means the interest rate is guaranteed until the stated maturity date, so your interest rate will not go up or down during this period.
To check the maximum investment into a fixed rate bond you will need to check the individual product terms and conditions.
To check whether additional investments will be permitted you will need to check the individual product terms and conditions.
Typically you will have limited or no access to funds saved in a fixed rate bond. To find out the access restrictions you will need to check the individual product terms and conditions.
If you are looking for tax free savings we may offer a Cash ISA fixed rate bond, which will enable you to invest the maximum annual tax free allowance set by the government.
Generally yes, unless you are opening a Cash ISA account. However there may be limits on how many of one account type you can open, so make sure you check the individual product terms and conditions.
Yes, you can open your account in joint names unless you are opening a Cash ISA account.
The final interest will be added to your account on the maturity date (end date). We will contact you at least 14 days before this date to let you know what will happen to your funds and your available options. This will include to continue saving in a fixed rate account, transfer to an easy access account or close your account.
Our fixed rate savings accounts are available for existing members or new applicants resident in our local postcode areas AL, CB, CM, CO, IP, LU, MK, NR, PE or SG. Applicants must be aged 7+ to open a fixed rate savings account, or 16+ if opening a fixed rate Cash ISA.
Both bank and building society fixed rate bonds are the same product; they are an interest-paying savings account that you can put money into for a set period of time.
Fixed rate bonds
How to open your fixed rate savings account.
Keen to get started? Our savings accounts are currently available to open in branch or by post. If you’re looking for more information on how to open your account we’ve put together a helpful guide.
If you’re ready to open your savings account by post you’ll need to do the following:
- Download, read and accept the terms and conditions, using our savings account finder.
- Be an existing member or a new applicant resident in our local postcode areas AL, CB, CM, CO, IP, LU, MK, NR, PE or SG
- Read and retain the Financial Services Compensation Scheme (FSCS) information sheet
We will require proof of your identity to open a new account if you are a new customer. For existing members we may request identification, for example if your records with us are incomplete.
Completed application forms should be posted to Suffolk Building Society, Freehold House, 6-8 The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ.
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Have been meaning to open a Savings Account for some time. We have no banks left in town but we have the convenience of the Suffolk Building Society here. Staff were very helpful in opening the account and always extremely pleasant when I go in to put some money in my account. Thank you.
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