What interest rate does the Aldermore 1 Year Fixed Rate Savings Account pay?

The Aldermore 1 Year Fixed Rate Savings Account pays 4.88% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £488 at 4.88% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £1,000 and up to £1,000,000.

Can I withdraw my money?

No. Your money is locked in until the fixed term ends, so only put in what you won't need before then.

When is interest paid?

You can choose to have interest paid monthly or at the end of the term.

Who can open this account?

New and existing Aldermore customers can open it. You can open it online.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

How does it compare with other one-year fixed rate bonds?

At 4.88% AER it ranks 18th of 76 one-year fixed rate bonds we track. The best pays 5.13% and the average is 4.55%.

Dashboard

Fixed Rate

Aldermore 1 Year Fixed Rate Savings Account Review

A competitive one-year fixed rate bond from Aldermore, with a £1,000 minimum deposit. It ranks 18th of 76 one-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

4.88%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

£1,000,000

Access

At maturity only

Interest paid

Monthly/On maturity

How It Stacks Up

Ranks 18th of 76

1-year fixed bonds we track

Above average

This account 4.88%

UK CPI (Aug 2026): 3.10%; Pays 1.78% more
Average 1-year fixed: 4.55%; Pays 0.33% more
Best 1-year fixed: 5.13%; Pays 0.25% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare fixed bonds

A Good Fit For

Pro: New and existing savers
Pro: Savers who want a monthly income

Worth Weighing Up

Con: Your money is locked in for 1 year
Con: You need at least £1,000 to open it

Good to Know

Deposits only within 14 days of opening. No withdrawals, transfers out, or closures before maturity (except in exceptional circumstances).

Please verify all details with the provider – see our Disclaimer

See all Aldermore accounts

Estimated returns with Aldermore's Fixed Rate

What you could earn with Aldermore's 1 Year Fixed Rate Savings Account.

Estimated interest

£1,000 saved

£48.80

At 4.88% AER

£5,000 saved

£244

At 4.88% AER

£10,000 saved

£488

At 4.88% AER

£1,000,000 saved

£48,800

At 4.88% AER

Estimated over one year, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Work out the tax on your interestSee how much of this interest could be taxed.

Our Expert Opinion on Aldermore 1 Year Fixed Rate Savings Account

Jonny PeaseCo-Founder, DepositScout

Aldermore's 1 Year Fixed Rate Savings Account pays 4.88% AER, which does beat inflation by 1.78% against a CPI of 3.1% (Aug 2026), but it sits below the market average for fixed-rate accounts and 0.49% behind the category leader at 5.37%. If you want monthly interest, note that the effective rate drops to 4.62% rather than the headline figure. You need at least £1,000 to open it, and as with any fixed bond, your money is locked until maturity, so I would check alternatives like NS&I's Guaranteed Income Bonds at 4.99% before committing.

Compare Fixed Rate Bonds