Fixed Rate from OakNorth Bank
Protection
FSCS
Up to £120,000
Min balance
£1
Max balance
£500,000
Access
No access until maturity
Interest paid
On maturity
Please verify all details with the provider – for more info read our Disclaimer
Want to know how much interest you will receive with OakNorth Bank's Fixed Term 12 Months?
Estimated interest
£1,000 saved
£48.80
At 4.88% AER
£5,000 saved
£244
At 4.88% AER
£10,000 saved
£488
At 4.88% AER
£500,000 saved
£24,400
At 4.88% AER
Estimated over one year, assuming the rate stays the same and interest stays in the account. Amounts outside this account's minimum or maximum balance are left out.
OakNorth Bank's Fixed Term 12 Months pays 4.88% with interest added at maturity, and it accepts deposits from as little as £1 up to £500,000, which makes it useful for anyone parking a large lump sum as well as smaller savers. The key catch is that there is genuinely no access and no right to cancel once the account is open, so you need to be certain you will not need the money for the full year. If you want to shop around before committing, thisbank's 1-Year Fixed Term Deposit is currently sitting at 4.93% and Atom Bank's 1 Year Fixed Saver is at 4.90%, both worth a look.
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