Fixed RateCompare 2 Year Fixed Rate Bonds

Progressive Building Society 2 Year Fixed Rate Monthly Income Bond Review

A two-year fixed rate bond from Progressive Building Society, with a £25,000 minimum deposit. It ranks 52nd of 73 two-year fixed rate bonds we track.

Fixed rate · 2 years

4.40%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£25,000

Max balance

£5,000,000

Access

At maturity only

Interest paid

Monthly

How It Stacks Up

Ranks 52nd of 73

2-year fixed bonds we track

Below average
This account 4.40%
UK CPI (Aug 2026)
3.10%
Pays 1.30% more
Average 2-year fixed
4.63%
Pays 0.23% less
Best 2-year fixed
5.20%
Pays 0.80% less

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

Compare fixed bonds

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 2 years
  • Con: You need at least £25,000 to open it

Please verify all details with the provider – see our Disclaimer

See all Progressive Building Society accounts

Estimated returns with Progressive Building Society's Fixed Rate

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

Estimated interest

£25,000 saved

£2,248

At 4.4% AER

£50,000 saved

£4,497

At 4.4% AER

£5,000,000 saved

£449,680

At 4.4% 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 Monthly Income Bond

Jan WatermannCo-Founder, DepositScout

Progressive Building Society's 2 Year Fixed Rate Monthly Income Bond pays 4.40%, which sits below the market average and 0.97% behind the best fixed-rate deal at 5.37%. It suits someone who needs a regular income stream, since interest lands in your bank account on the first banking day of each month. The £25,000 minimum is a real barrier, and your money is locked for two years with no access. If the minimum works for you, I would still check Shawbrook or OakNorth Bank, both offering 4.85% over the same term.

Compare Fixed Rate Bonds

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

Same type of account, closest on rate.

Common questions about the 2 Year Fixed Rate Monthly Income Bond

D

DepositScout Alerts

Example alert

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Example Easy Access Saver Rate Down
4.20% AER
4.75%
View Best Rates
Live Market Tracking

Be the first to know when this Progressive Building Society rate drops.

Join 1,000+ savers using DepositScout who get instant email alerts when top UK savings rates change. Never miss out on a better deal again.

Takes 30 seconds · No spam · Unsubscribe any time