Fixed RateCompare 1 Year Fixed Rate Bonds

Progressive Building Society 1 Year Fixed Rate Bond Review

A one-year fixed rate bond from Progressive Building Society. It ranks 39th of 77 one-year fixed rate bonds we track.

Fixed rate · 1 year

4.50%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 39th of 77

1-year fixed bonds we track

Just below average
This account 4.50%
UK CPI (Aug 2026)
3.10%
Pays 1.40% more
Average 1-year fixed
4.56%
Pays 0.06% less
Best 1-year fixed
5.15%
Pays 0.65% 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 Bond.

Estimated interest

£1,000 saved

£45.00

At 4.5% AER

£5,000 saved

£225

At 4.5% AER

£10,000 saved

£450

At 4.5% AER

£5,000,000 saved

£225,000

At 4.5% 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 Bond

Jan WatermannCo-Founder, DepositScout

Progressive Building Society's 1 Year Fixed Rate Bond pays 4.50%, which is 1.40% above CPI inflation of 3.1% (Aug 2026), so your money does grow in real terms. That said, the rate sits below the market average for fixed-rate accounts, and at 0.87% behind the category leader at 5.37%, there are better one-year options available, such as OakNorth Bank's Fixed Term 12 Months at 4.82%. The main catch is the usual one for fixed bonds: no access until maturity, so only commit money you can genuinely lock away for the full year.

Compare Fixed Rate Bonds

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

Same type of account, closest on rate.

Common questions about the 1 Year Fixed Rate Bond

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