Fixed RateCompare 2 Year Fixed Rate Bonds

Progressive Building Society 2 Year Fixed Rate Access Bond Review

A competitive two-year fixed rate bond from Progressive Building Society. It ranks 29th of 73 two-year fixed rate bonds we track.

Fixed rate · 2 years

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 29th of 73

2-year fixed bonds we track

Above average
This account 4.75%
UK CPI (Aug 2026)
3.10%
Pays 1.65% more
Average 2-year fixed
4.63%
Pays 0.12% more
Best 2-year fixed
5.20%
Pays 0.45% 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 2 years

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Estimated returns with Progressive Building Society's Fixed Rate

What you could earn with Progressive Building Society's 2 Year Fixed Rate Access Bond.

Estimated interest

£1,000 saved

£97.26

At 4.75% AER

£5,000 saved

£486

At 4.75% AER

£10,000 saved

£973

At 4.75% AER

£5,000,000 saved

£486,281

At 4.75% AER

Estimated over the 24-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 Progressive Building Society 2 Year Fixed Rate Access Bond

Jan WatermannCo-Founder, DepositScout

Progressive Building Society's 2 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 bonds and trails the category leader by 0.62%. The account accepts deposits from £1 up to £5,000,000, so it suits a wide range of savers, though the money is locked until maturity with no access. If the rate matters more than the brand, OakNorth Bank and Shawbrook both offer two-year fixes at 4.85%.

Compare Fixed Rate Bonds

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

Same type of account, closest on rate.

Common questions about the 2 Year Fixed Rate Access Bond

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