What interest rate does the Metro Bank Fixed Term Savings 1 Year pay?

The Metro Bank Fixed Term Savings 1 Year pays 3.70% AER, fixed for one year.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £370 at 3.70% 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 £500.

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 Metro Bank customers can open it.

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 3.70% AER it ranks 68th of 69 one-year fixed rate bonds we track. The best pays 5.12% and the average is 4.47%.

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Fixed Rate

Metro Bank Fixed Term Savings 1 Year Review

A one-year fixed rate bond from Metro Bank. It ranks 68th of 69 one-year fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

3.70%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

No limit

Access

At maturity only

Interest paid

Monthly/Annually

How It Stacks Up

Ranks 68th of 69

1-year fixed bonds we track

Well below average

This account 3.70%

UK CPI (Aug 2026): 3.10%; Pays 0.60% more
Average 1-year fixed: 4.47%; Pays 0.77% less
Best 1-year fixed: 5.12%; Pays 1.42% 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

Good to Know

Open to UK residents aged 16+ (18+ to apply online); minimum deposit £500, maximum £2m. Can be opened via online banking or the Metro Bank app; existing customers can log in to pre-fill the application.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with Metro Bank's Fixed Rate

What you could earn with Metro Bank's Fixed Term Savings 1 Year.

Estimated interest

£1,000 saved

£37.00

At 3.7% AER

£5,000 saved

£185

At 3.7% AER

£10,000 saved

£370

At 3.7% AER

£50,000 saved

£1,850

At 3.7% 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 Metro Bank Fixed Term Savings 1 Year

Jonny PeaseCo-Founder, DepositScout

Metro Bank's one-year fix pays 3.70%, which sits below the market average for fixed-rate savings and 1.65% behind the category leader at 5.35%. It does beat August 2026 CPI of 3.1% by 0.60%, so your money grows in real terms, but only just. The main catch is the hard lock-in: no withdrawals after the 14-day cooling-off period. If you want a one-year fix, OakNorth Bank's Fixed Term 12 Months at 4.96% or Atom Bank's 1 Year Fixed Saver at 4.90% are worth a look first.

Compare Fixed Rate Bonds