What interest rate does the FirstSave 2 Year Fixed Rate Bond pay?

The FirstSave 2 Year Fixed Rate Bond pays 5.12% AER, fixed for 2 years.

How much interest could I earn?

Saving £10,000 for 2 years would earn about £1,050 at 5.12% 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 £2,000,000.

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 annually.

Who can open this account?

New and existing FirstSave 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 5.12% AER it ranks 7th of 72 two-year fixed rate bonds we track. The best pays 5.20% and the average is 4.65%.

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Fixed Rate Compare 2 Year Fixed Rate Bonds

FirstSave 2 Year Fixed Rate Bond Review

One of the best-paying two-year fixed rate bonds, from FirstSave, with a £1,000 minimum deposit. It ranks 7th of 72 two-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 2 years

5.12%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

£2,000,000

Access

At maturity only

Interest paid

Monthly/Annually

How It Stacks Up

Ranks 7th of 72

2-year fixed bonds we track

Among the best

This account 5.12%

UK CPI (Aug 2026): 3.10%; Pays 2.02% more
Average 2-year fixed: 4.65%; Pays 0.47% more
Best 2-year fixed: 5.20%; Pays 0.08% 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 2 years
Con: You need at least £1,000 to open it

Good to Know

You must fully fund your fixed-rate bond within 10 working days of opening. You can make several payments over 10 calendar days.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with FirstSave's Fixed Rate

What you could earn with FirstSave's 2 Year Fixed Rate Bond.

Estimated interest

£1,000 saved

£105

At 5.12% AER

£5,000 saved

£525

At 5.12% AER

£10,000 saved

£1,050

At 5.12% AER

£2,000,000 saved

£210,043

At 5.12% 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 FirstSave 2 Year Fixed Rate Bond

Jonny PeaseCo-Founder, DepositScout

FirstSave's 2 Year Fixed Rate Bond pays 5.12%, which sits above the market average for fixed-rate bonds, though it trails the category leader by 0.25% at 5.37%. At 2.02% above CPI inflation of 3.1%, it does offer a meaningful real return for savers who can commit £1,000 or more. The genuine catch is that no withdrawals are permitted before maturity, so this suits patient savers only. If you want a marginally better two-year rate, Investec's 2-Year Fixed Rate Saver is currently at 5.16%.

Compare Fixed Rate Bonds