OakNorth Bank Fixed Term 24 Months Review5.03% AER (Sep 2026)

Fixed Rate from OakNorth Bank

Already got this account?Leave a review to help other savers

Protection

FSCS

Up to £120,000

Min balance

£1

Max balance

£500,000

Access

No access until maturity

Interest paid

On maturity

Who Is This For

Learn more about OakNorth Bank

New and existing savers
Savers happy with a £500,000 cap
Savers who can lock money away for 2 Years

Additional Info

You can fund your account with multiple deposit payments within 14 calendar days from the day your account is approved. The minimum deposit is £1. Once the 14-calendar day period expires, you will not be able to make any further deposits into the account.

Please verify all details with the provider – for more info read our Disclaimer

Calculate your tax liability for this accountSee what you might pay on the interest from OakNorth Bank's Fixed Term 24 Months.

Estimated returns with OakNorth Bank's Fixed Rate

Want to know how much interest you will receive with OakNorth Bank's Fixed Term 24 Months?

Estimated interest

£1,000 saved

£103

At 5.03% AER

£5,000 saved

£516

At 5.03% AER

£10,000 saved

£1,031

At 5.03% AER

£500,000 saved

£51,565

At 5.03% AER

Estimated over the 24-month term, assuming the rate stays the same and interest stays in the account. Amounts outside this account's minimum or maximum balance are left out.

Our Expert Opinion on OakNorth Bank Fixed Term 24 Months

OakNorth Bank's Fixed Term 24 Months pays 5.03% and suits savers who can set aside a lump sum for two years without needing to touch it, since there is no access until maturity and interest is only paid at the end of the term. The minimum deposit is just £1, which makes it unusually accessible, though the maximum sits at £500,000. The real catch is that there is no right to cancel and no withdrawals permitted during the term, so be confident you will not need the money before it matures. Close Brothers Savings offers a comparable two-year fix at 5.02% if you want a near-identical alternative worth checking.
Jan Watermann (Co-Founder)DepositScout