Fixed Rate Personal Savings Accounts
These accounts offer competitive, secured interest rates over a fixed term. Perfect for long-term planning.
- Open an account in minutes, for free
- Protection from downwards rate changes
What is a fixed rate savings account?
A fixed rate savings account offers an interest rate which doesn’t change, unlike easy access and notice accounts. In return for this stability, you agree not to access your funds for a set period of time. They are the perfect option for individuals who do not need immediate access to their funds and can often enjoy better interest rates than other types of accounts.
At Recognise Bank, you can start a fixed rate savings account with as little as £1,000.
Our personal savings accounts
1 Year Fixed
- Secure your interest rate for 12 months
- Simple online application
- FSCS Protection up to £120,000 for individuals and £240,000 for joint accounts
2 Year Fixed
- Secure your interest rate for 24 months
- Simple online application
- FSCS Protection up to £120,000 for individuals and £240,000 for joint accounts
Recognise your potential
We believe that everyone deserves financial support, regardless of whether you’re a business owner or an individual seeking personal banking services.
That’s why we’ve extended our expertise to cater to personal customers, just like you.
Experience the difference of saving with a bank that puts relationships first. Join us today and discover the personalised support, innovative solutions, and unwavering dedication that has made Recognise Bank a trusted partner for both businesses and individuals alike.
Opening an account is easy. Here's what to expect:
FSCS
protection
Simple
set up
Excellent
rating
Our savings accounts are award winning and our customers have rated us excellent on Trustpilot.
Guaranteed
interest rate
Our accounts pay a guaranteed interest rate, regardless of changes to the Bank of England base rate.
Don’t take our word for it. See why our customers love us:
Our range of personal savings account types
Notice savings accounts
Savings account which requires you to give a set period of notice before withdrawing funds.
Important information
Make sure you read our general terms and conditions and product terms and conditions before opening an account.
- You can deposit between £1,000 and £120,000 in our personal savings accounts.
- Your money is FSCS protected up to £120,000 on all eligible deposits.
- We don’t charge fees – you can open an account for free and benefit from daily customer support.
- Interest is paid into your nominated UK bank account or the respective Recognise Bank savings account monthly or annually – the choice is yours.
- You must be over 18 years old and a UK resident to open an account.
AER stands for annual equivalent rate and illustrates the interest rate if it was paid and compounded annually each year.
Gross is the interest rate payable before tax is deducted.
Your eligible deposits with Recognise Bank are protected up to a total of £120,000 for individuals (and £240,000 for joint accounts) by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. This means in the unlikely event that Recognise Bank were to fail or become insolvent, any deposits you hold below this limit will be protected under this scheme. For more information visit www.fscs.org.uk.
Frequently asked questions
£1,000. This threshold ensures a solid foundation for your personal savings journey.
- Maximum deposit is £120,000.
- Maximum deposit for joint accounts is £240,000.
No. You cannot withdraw money from a fixed savings account until maturity, in accordance with the product summary sheet.
Locking your money away for a set period can have significant benefits. Here’s a rundown:
- Better Planning
Individuals that know how much interest they will earn on their savings can plan future years’ cash flow better. - Protection against interest rate fluctuations
Fixed term savings accounts offer individuals full protection against interest rate fluctuations, preventing lower rates from eating into returns.
- More competitive rates
Locking money away for a pre-agreed period allows individuals to access more competitive, higher rates.
- Fixed rate savings accounts offer a guaranteed interest rate for a set term, providing stability and predictability in returns. Once you deposit your funds, they typically remain locked until the end of the term, and early withdrawal often incurs penalties.
- Notice savings accounts require you to give advance notice before withdrawing funds. While they offer more flexibility for accessing your money compared to Fixed Rate accounts, the interest rates can fluctuate and are not guaranteed for any period.
No, the interest rate is fixed from the date initial deposit is paid into your account.
At the end of the term, you will have options such as reinvesting in another fixed rate term, transferring to a different type of account, or withdrawing your funds, including the interest earned.
Can't find what you're looking for?
Check out our savings FAQs or contact us for additional support.
1FSCS Protection up to £120,000 on your eligible deposits.
