What interest rate does the Paragon Bank 15 Month Fixed Rate Savings Account pay?

The Paragon Bank 15 Month Fixed Rate Savings Account pays 4.45% AER, fixed for 15 months.

How much interest could I earn?

Saving £10,000 for 15 months would earn about £559 at 4.45% 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.

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, annually or on each anniversary of opening.

Who can open this account?

New and existing Paragon 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 15-month fixed rate bonds?

At 4.45% AER it ranks 6th of 7 15-month fixed rate bonds we track. The best pays 5.10% and the average is 4.70%.

Dashboard

Fixed Rate

Paragon Bank 15 Month Fixed Rate Savings Account Review

A 15-month fixed rate bond from Paragon Bank, with a £1,000 minimum deposit. It ranks 6th of 7 15-month fixed rate bonds we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 15 months

4.45%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1,000

Max balance

No limit

Access

At maturity only

Interest paid

Monthly/Annually/Anniversary

How It Stacks Up

Ranks 6th of 7

15-month fixed bonds we track

Below average

This account 4.45%

UK CPI (Aug 2026): 3.10%; Pays 1.35% more
Average 15-month fixed: 4.70%; Pays 0.25% less
Best 15-month fixed: 5.10%; Pays 0.65% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

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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 15 months
Con: You need at least £1,000 to open it

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Estimated returns with Paragon Bank's Fixed Rate

What you could earn with Paragon Bank's 15 Month Fixed Rate Savings Account.

Estimated interest

£1,000 saved

£55.93

At 4.45% AER

£5,000 saved

£280

At 4.45% AER

£10,000 saved

£559

At 4.45% AER

£50,000 saved

£2,797

At 4.45% AER

Estimated over the 15-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 Paragon Bank 15 Month Fixed Rate Savings Account

Jonny PeaseCo-Founder, DepositScout

Paragon Bank's 15 Month Fixed Rate Savings Account pays 4.45%, which sits below the market average for fixed-rate accounts and 0.90% behind the category leader at 5.35%. That gap is worth thinking about, especially since your money is locked away until maturity with no access. At least the rate does beat CPI inflation of 3.1% by 1.35%, so you are getting a real return. If you want a similar term, I would check thisbank's 15-Month Fixed Term Deposit at 5.10% or Tesco Bank's 15 Month Fixed Rate Saver at 4.84% before committing here.

Compare Fixed Rate Bonds

2 alternatives to Paragon Bank's 15 Month Fixed Rate Savings Account2 alternatives to Paragon Bank's 15 Month Fixed Rate Savings Account

Same type of account, closest on rate.

Common questions about the 15 Month Fixed Rate Savings Account

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4.75%

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