Fixed RateCompare 2 Year Fixed Rate Bonds

Progressive Building Society Online 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.

Compare fixed bonds

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 Online 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 Online 2 Year Fixed Rate Bond

Jan WatermannCo-Founder, DepositScout

Progressive Building Society's Online 2 Year Fixed Rate Bond pays 4.45%, which is below the market average for fixed-rate accounts and 0.92% behind the current leader at 5.37%, so I would not call this a standout rate. It does beat August 2026 CPI of 3.1% by 1.35%, which at least means your money grows in real terms. The main catch is the complete lock-in for two years with no access until maturity, so only commit money you genuinely will not need. If you want a two-year fix, OakNorth Bank and Shawbrook both offer 4.85% and are worth a look first.

Compare Fixed Rate Bonds

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

Same type of account, closest on rate.

Common questions about the Online 2 Year Fixed Rate Bond

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