Fixed RateCompare 2 Year Fixed Rate Bonds

Progressive Building Society 2 Year Fixed Rate Bond Review

A two-year fixed rate bond from Progressive Building Society. It ranks 50th of 73 two-year fixed rate bonds we track.

Fixed rate · 2 years

4.45%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 50th of 73

2-year fixed bonds we track

Below average
This account 4.45%
UK CPI (Aug 2026)
3.10%
Pays 1.35% more
Average 2-year fixed
4.63%
Pays 0.18% less
Best 2-year fixed
5.20%
Pays 0.75% 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 Bond.

Estimated interest

£1,000 saved

£90.98

At 4.45% AER

£5,000 saved

£455

At 4.45% AER

£10,000 saved

£910

At 4.45% AER

£5,000,000 saved

£454,901

At 4.45% 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 Bond

Jonny PeaseCo-Founder, DepositScout

Progressive Building Society's 2 Year Fixed Rate Bond pays 4.45%, which beats August 2026 CPI of 3.1% by 1.35%, so your money does grow in real terms over the two years. That said, the rate sits below the market average for fixed-rate bonds, and the best rate across that category is 5.37%, leaving this account 0.92% behind. If you want a two-year fix specifically, OakNorth Bank's Fixed Term 24 Months and Shawbrook's 2 Year Fixed Rate Bond both offer 4.85%. The usual fixed-rate catch applies: no access until maturity, so only commit money you will not need.

Compare Fixed Rate Bonds

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

Same type of account, closest on rate.

Common questions about the 2 Year Fixed Rate Bond

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