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Vernon Building Society Fixed-Rate Bond until 31 Oct 2028 Review

A two-year fixed rate bond from Vernon Building Society, with a £5,000 minimum deposit. It ranks 63rd of 73 two-year fixed rate bonds we track.

Fixed rate · 2 years

4.20%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£5,000

Max balance

£250,000

Access

At maturity only

Interest paid

Annually

How It Stacks Up

Ranks 63rd of 73

2-year fixed bonds we track

Below average
This account 4.20%
UK CPI (Aug 2026)
3.10%
Pays 1.10% more
Average 2-year fixed
4.63%
Pays 0.43% less
Best 2-year fixed
5.20%
Pays 1.00% less

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

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A Good Fit For

  • Pro: New and existing savers

Worth Weighing Up

  • Con: Your money is locked in for 2 years
  • Con: You need at least £5,000 to open it

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Estimated returns with Vernon Building Society's Fixed Rate

What you could earn with Vernon Building Society's Fixed-Rate Bond.

Estimated interest

£5,000 saved

£429

At 4.2% AER

£10,000 saved

£858

At 4.2% AER

£50,000 saved

£4,288

At 4.2% AER

£250,000 saved

£21,441

At 4.2% 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 Vernon Building Society Fixed-Rate Bond

Jonny PeaseCo-Founder, DepositScout

Vernon's Fixed-Rate Bond pays 4.20%, which beats August 2026 CPI of 3.1% by 1.10%, so your money does grow in real terms. That said, 4.20% sits below the market average for fixed-rate accounts, and the market leader across that category pays 5.37%, leaving this 1.17% behind. The money is locked until 31 October 2028 with no access, so this suits savers who can commit £5,000 to £250,000 and won't need it. I would at least compare Shawbrook's 2 Year Fixed Rate Bond at 4.85% before deciding.

Compare Fixed Rate Bonds

2 alternatives to Vernon Building Society's Fixed-Rate Bond

Same type of account, closest on rate.

Common questions about the Fixed-Rate Bond

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