The best one-year fixed savings accounts in the UK – February 2023

Savers in the UK have a wide range of options to choose from when looking to secure their money for a fixed term, with the possibility of earning higher interest than an easy access savings account.

Here are some of the best one-year fixed savings accounts available in the UK as of February 2023:

  1. My Community Bank 1 Year Fixed Saver – 4.18% AER [1] My Community Bank offers a highly competitive fixed saver account that requires a minimum deposit of £1,000. Interest is calculated daily and paid when the account matures.
  2. Aldermore Bank 1 Year Fixed Rate Bond – 2.2% AER [2] Aldermore Bank offers a competitive fixed rate bond that requires a minimum deposit of £1,000. Savers who deposit £10,000 or more can access an even higher rate of 2.45%.
  3. Atom Bank 1 Year Fixed Saver – 2.05% AER [3] Atom Bank offers a competitive one-year fixed saver account that requires a minimum deposit of £50. Interest is paid on a yearly basis.
  4. Investec Bank 1 Year Fixed Term Deposit – 1.9% AER [3] Investec Bank offers a highly competitive one-year fixed term deposit that requires a minimum deposit of £25,000. Interest is paid on a yearly basis.
  5. ICICI Bank 1 Year Fixed Deposit – 1.8% AER [3] ICICI Bank offers a competitive one-year fixed deposit that requires a minimum deposit of £1,000. Interest is paid on a yearly basis.

Conclusion

Choosing the right one-year fixed savings account can help savers earn more interest on their money.

By comparing the interest rates, minimum deposits, and terms of each account, savers can make an informed decision that meets their needs.

It is important to remember that interest rates can change and that it is essential to keep a lookout for any changes to the terms and conditions of the savings accounts.

Investors who experienced losses from ISAs in recent years.

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