What interest rate does the Chetwood Bank 2 Year Fixed Rate Savings pay?

The Chetwood Bank 2 Year Fixed Rate Savings pays 5.14% AER, fixed for 2 years.

How much interest could I earn?

Saving £10,000 for 2 years would earn about £1,054 at 5.14% 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 on each anniversary of opening.

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 two-year fixed rate bonds?

At 5.14% AER it ranks 4th of 63 two-year fixed rate bonds we track. The best pays 5.16% and the average is 4.61%.

Dashboard

Fixed Rate

Chetwood Bank 2 Year Fixed Rate Savings Review

One of the best-paying two-year fixed rate bonds, from Chetwood Bank, with a £1,000 minimum deposit. It ranks 4th of 63 two-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 2 years

5.14%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

Anniversary

How It Stacks Up

Ranks 4th of 63

2-year fixed bonds we track

Among the best

This account 5.14%

UK CPI (Aug 2026): 3.10%; Pays 2.04% more
Average 2-year fixed: 4.61%; Pays 0.53% more
Best 2-year fixed: 5.16%; About the same

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 2 years
Con: You need at least £1,000 to open it

Good to Know

You can fully fund your account within 14 days of opening.

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Estimated returns with Chetwood Bank's Fixed Rate

What you could earn with Chetwood Bank's 2 Year Fixed Rate Savings.

Estimated interest

£1,000 saved

£105

At 5.14% AER

£5,000 saved

£527

At 5.14% AER

£10,000 saved

£1,054

At 5.14% AER

£50,000 saved

£5,272

At 5.14% AER

Estimated over the 24-month term, 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 2 Year Fixed Rate Savings

Jonny PeaseCo-Founder, DepositScout

Chetwood Bank's 2 Year Fixed Rate Savings pays 5.14%, which sits above the market average for fixed-rate accounts, though it trails the best fixed-rate deal available by 0.21%, where the leader pays 5.35%. At 2.04% above August 2026 CPI of 3.1%, your money does grow in real terms. The main catch is that no access is permitted until maturity, except in exceptional circumstances. You need at least £1,000 to open, and OakNorth Bank's Fixed Term 24 Months edges it slightly at 5.15%.

Compare Fixed Rate Bonds