Fixed Rate

Melton Building Society Fixed Rate Review

A one-year fixed rate bond from Melton Building Society, running for 14 months, with a £5,000 minimum deposit. It ranks 29th of 69 one-year fixed rate bonds we track.

Fixed rate · 14 months

4.50%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£5,000

Max balance

£500,000

Access

At maturity only

Interest paid

Annually

How It Stacks Up

Ranks 29th of 69

1-year fixed bonds we track

Just above average
This account 4.50%
UK CPI (Aug 2026)
3.10%
Pays 1.40% more
Average 1-year fixed
4.47%
About the same
Best 1-year fixed
5.12%
Pays 0.62% 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 14 months
  • Con: You need at least £5,000 to open it

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Estimated returns with Melton Building Society's Fixed Rate

What you could earn with Melton Building Society's Fixed Rate.

Estimated interest

£5,000 saved

£263

At 4.5% AER

£10,000 saved

£527

At 4.5% AER

£50,000 saved

£2,635

At 4.5% AER

£500,000 saved

£26,347

At 4.5% AER

Estimated over the 14-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 Melton Building Society Fixed Rate

Jonny PeaseCo-Founder, DepositScout

Melton Building Society's Fixed Rate bond pays 4.50%, which beats August 2026 CPI of 3.1% by 1.40%, so your money does grow in real terms. That said, it sits 0.85% below the fixed rate market leader at 5.35%, and the position is below the market average, so it is not the sharpest deal around. You need at least £5,000 to open it, and there is no access until maturity in December 2027. If you want a shorter commitment, OakNorth Bank's 12-month fix pays 4.96%.

Compare Fixed Rate Bonds

2 alternatives to Melton Building Society's Fixed Rate

Same type of account, closest on rate.

Common questions about the Fixed Rate

D

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4.20% AER
4.75%
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