Fixed RateCompare 1 Year Fixed Rate Bonds

Progressive Building Society 1 Year Fixed Rate Access Bond Review

A competitive one-year fixed rate bond from Progressive Building Society. It ranks 25th of 77 one-year fixed rate bonds we track.

Fixed rate · 1 year

4.75%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£5,000,000

Access

At maturity only

Interest paid

Yearly

How It Stacks Up

Ranks 25th of 77

1-year fixed bonds we track

Above average
This account 4.75%
UK CPI (Aug 2026)
3.10%
Pays 1.65% more
Average 1-year fixed
4.56%
Pays 0.19% more
Best 1-year fixed
5.15%
Pays 0.40% less

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

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Pros and cons

  • Pro: New and existing savers
  • Con: Your money is locked in for 1 year

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Estimated returns with Progressive Building Society's Fixed Rate

What you could earn with Progressive Building Society's 1 Year Fixed Rate Access Bond.

Estimated interest

£1,000 saved

£47.50

At 4.75% AER

£5,000 saved

£238

At 4.75% AER

£10,000 saved

£475

At 4.75% AER

£5,000,000 saved

£237,500

At 4.75% 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 Progressive Building Society 1 Year Fixed Rate Access Bond

Jonny PeaseCo-Founder, DepositScout

Progressive Building Society's 1 Year Fixed Rate Access Bond pays 4.75%, which beats CPI inflation of 3.1% by 1.65 percentage points, but it sits below the market average for fixed-rate accounts and trails the category leader by 0.62%. The £1 minimum makes it accessible, though the £5,000,000 ceiling suits most savers. The real catch is no access until maturity, so only commit money you can lock away. Atom Bank's 1 Year Fixed Saver at 4.90% is worth a look if you want a better one-year rate.

Compare Fixed Rate Bonds

2 alternatives to Progressive Building Society's 1 Year Fixed Rate Access Bond

Same type of account, closest on rate.

Common questions about the 1 Year Fixed Rate Access Bond

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