What interest rate does the Chetwood Bank 1 Year Fixed Rate Savings pay?

The Chetwood Bank 1 Year Fixed Rate Savings pays 5.00% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £500 at 5.00% 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.

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?

Interest is paid at the end of the term.

Who can open this account?

New and existing Chetwood Bank 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 5.00% AER it ranks 8th of 69 one-year fixed rate bonds we track. The best pays 5.12% and the average is 4.47%.

Dashboard

Fixed Rate

Chetwood Bank 1 Year Fixed Rate Savings Review

One of the best-paying one-year fixed rate bonds, from Chetwood Bank, with a £1,000 minimum deposit. It ranks 8th of 69 one-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

5.00%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

No limit

Access

At maturity only

Interest paid

On maturity

How It Stacks Up

Ranks 8th of 69

1-year fixed bonds we track

Among the best

This account 5.00%

UK CPI (Aug 2026): 3.10%; Pays 1.90% more
Average 1-year fixed: 4.47%; Pays 0.53% more
Best 1-year fixed: 5.12%; Pays 0.12% less

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

Compare fixed bonds

A Good Fit For

Pro: New and existing savers

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

You have 14 days to fully fund the account.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with Chetwood Bank's Fixed Rate

What you could earn with Chetwood Bank's 1 Year Fixed Rate Savings.

Estimated interest

£1,000 saved

£50.00

At 5% AER

£5,000 saved

£250

At 5% AER

£10,000 saved

£500

At 5% AER

£50,000 saved

£2,500

At 5% 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 Chetwood Bank 1 Year Fixed Rate Savings

Jan WatermannCo-Founder, DepositScout

Chetwood Bank's one-year fix pays 5.00%, which sits near the market average for fixed-rate savings and 0.35% behind the current category leader at 5.35%. That said, 5.00% is 1.90% above CPI inflation of 3.1% (Aug 2026), so your money does grow in real terms. The minimum is £1,000 and there are no early withdrawals except in exceptional circumstances such as bankruptcy or critical illness, so only commit money you can genuinely lock away for the full year.

Compare Fixed Rate Bonds