Make an appointment at one of our branches and we’ll open it there and then.
Branches in Mansfield, Sutton, Kirkby and Chesterfield.
Your savings are protected up to the value of £85,000 with the Financial Services Compensation Scheme (FSCS).
We’re committed to developing a personal relationship with you.
Minimum Balance | £500 + |
Interest Rate (AER1/Gross2) | 4.50% |
Interest Payable | On 31st December and on maturity |
Withdrawals | No withdrawals or early closure allowed before 15 December 2025 |
Access | Post or branch |
Minimum Balance | £500 + |
Interest Rate (AER1/Gross2) | 4.15% |
Interest Payable | Annually on 31 December and on maturity on 15 December 2026 |
Withdrawals | No withdrawals or early closure allowed before 15 December 2026 |
Access | Post or branch |
Minimum Balance | £500 + |
Interest Rate (AER1/Gross2) | 4.15% / 4.07% |
Interest Payable | Interest payable monthly and on maturity on 15 December 2026 |
Withdrawals | No withdrawals allowed until maturity on 15 December 2026 |
Access | Post or branch |
Minimum Balance | £1,000 + |
Interest Rate (AER1/Gross2) | 4.50% |
Interest Payable | On 31 December and on maturity |
Withdrawals | No withdrawals or early closure allowed |
Access | Online only |
Minimum Balance | £1,000 + |
Interest Rate (AER1/Gross2) | 4.15% |
Interest Payable | Annually on 31 December and on 15 December 2026 |
Withdrawals | No withdrawals or early closure allowed |
Access | Online only |
Minimum Balance | £500 + |
Interest Rate (AER1/Gross2) | 3.80% |
Interest Payable | Annually on 31 December and on maturity on 30 November 2029 |
Withdrawals | No withdrawals or early closure allowed before 30 November 2029 |
Access | Post or branch |
Minimum Balance | £500 + |
Interest Rate (AER1/Gross2) | 3.80% / 3.74% |
Interest Payable | Interest payable monthly and on maturity on 30 November 2029 |
Withdrawals | No withdrawals allowed until maturity on 30 November 2029 |
Access | Post or branch |
Our fixed rated saving bond accounts are available either exclusively online, by branch or by post.
Make an appointment at one of our branches and we’ll open it there and then.
Complete an application form at home and send it to us through the post.
For our eSavers, simply click on the link from the product details and follow the online form.
A fixed rate bond allows you to save a lump sum knowing that the interest rate will remain the same for the duration of the account term.
We offer fixed rate savings bonds to savers across the UK and our bonds are available in branch and by post, or online.
Interest on fixed rate bonds can be paid monthly (subject to product availability), annually and on maturity (the end of the fixed rate period).
Please see the answers to FAQs about fixed rate bonds below.
A fixed rate bond is a type of savings account that allows you to lock away a lump sum for a fixed rate of interest over a set term. The term can be over a number of years or can be until a specific date (for example, until 31 December 2030). It’s important to note, you will not be able to access your money until the end of the fixed rate term.
Fixed rate bonds are relatively straightforward to operate. You open the bond, with a lump sum, and your savings will earn a fixed rate of interest until the end of the product term. You will not be able to make withdrawals or close the account until the end of that term.
Interest earned during the fixed rate bond term can be added to your account, credited to another savings account, or sent direct to your bank account. Interest earned at the end of the product term can only be added to the fixed rate bond.
Fixed rate bonds provide certainty of the interest it will earn during the period of the bond and, typically, the interest rates are higher than what you would earn from Easy Access accounts.
The fixed rate of interest provides certainty, knowing the amount of interest you will earn over the product term. If UK interest rates go up or down, the interest you will earn from a fixed rate bond will remain the same.
By locking money away so that you can’t access it, you can also support more long-term savings goals. So, if you’re planning a special event for a few years’ time (e.g. a holiday, new home or wedding), the maturing fixed rate bond could be a real boost to your plans.
The main disadvantages of fixed rate bonds are that:
If you want the reassurance of being able to access some savings more easily, you might want to also consider an easy access or notice account as well as a fixed rate bond.
When choosing your fixed rate bond, you might want to consider how much money you want to lock away, how long you want to lock it away for and the interest that you will earn.
Consider your own financial circumstances and whether there are any life events on the horizon that may mean you need access to your savings. Could you get by for the next year, two years or even five years without the savings that you’re setting aside?
You might want to also consider what’s likely to happen to interest rates in the future? Although there are no guarantees, whether you think interest rates will continue to rise or fall and how the interest rate on a fixed rate bond compares to other variable rate accounts might help you decide whether it’s worth fixing or not.
Finally, if you are able to deposit a larger sum, consider the amount of interest that you can earn before you need to pay tax on your savings interest. Basic rate taxpayers can earn up to £1,000 in interest each year (£500 for higher rate taxpayers) before tax is applied as part of the UK Government’s Personal Savings Allowance.
Given the fixed rate of return, you will know the amount of interest that you will earn over the period and can plan for the amount of interest income that you will expect to receive.
Fixed rate bonds will guarantee to pay a fixed rate of return during the term of the bond.
Fixed rate bonds with UK authorised banks, building societies and credit unions are also covered by the Financial Services Compensation Scheme (FSCS) which protects savings of up to £85,000 per eligible person (£170,000 for joint accounts). More details about the FSCS are provided via the link below.
The risks of a fixed rate bond are that the interest rate will not increase, even if other rates go up. Also you will not be able to access your money for the duration of the fixed rate bond.
To help manage your risks, only put savings into a bond that you can set aside for the set period of time. It might be worth doing this whilst having other easy access savings available as a short-term alternative.
Also, before you open the bond, you might want to consider what might happen to rates in the future and if the interest rate on offer is right for you if other interest rates change.
Fixed rate bonds with UK authorised banks, building societies and credit unions are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per eligible person, per eligible provider (£170,000 for joint accounts).
The scheme includes fixed rate bonds. This means that if the provider fails, the scheme will compensate you so that you don’t lose your money. For more information visit https://www.fscs.org.uk/.
In the event of a death of the investor, we can typically allow three options:
For further information, we have a leaflet offering guidance following the bereavement of a savings account holder available to download from our Useful Downloads for Savers page https://www.mansfieldbs.co.uk/useful-downloads-for-savers/.
AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. AERs on the Monthly Income account assume interest is added to the account each month although in practice the option to have interest added in this way is not available.
The gross rate is the contractual rate of interest payable without tax taken off.
If separate AER/Gross rates are not quoted, both rates are identical.
Tax free means exempt from UK income and capital gains tax in the hands of the investor.
Want to ask us a specific question? Enquire online here or phone us on 01623 676350
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