Compare Bond Accounts

Firstsave 6 month fixed rate bond

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Type of Account
Typical Interest Rate
Overdraft Facility
Debit Cards
Bank Account Fees
Bond Accounts
2.50% to 3.45% AER
N/A
Visa Debit Card
Minimum deposit £1000

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Santander bond account

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Type of Account
Typical Interest Rate
Overdraft Facility
Debit Cards
Bank Account Fees
Bond Accounts
N / A
N / A
Visa Debit Card
Free banking (£500 min deposit)

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Compare all UK Bond Accounts

With so many Bond accounts to choose from here is a selection of the best rated Bond accounts. Most of the accounts are free of charge with a minimum of £1.00 to open your Bond account.

Different Types of Bond Accounts:

Looking at different ways to make your money work for you? An option to consider is a bond or a term savings account. Dealing with bonds is for people who have some money to spare, which they don’t need access to immediately and also for those looking for a higher and fixed return on their investments.

The bond account is mainly a savings account where your money goes towards buying specific bonds over a specified period of time and you are ensured a predetermined rate of interest. The rate of return would depend on the sort of bonds that you choose. This kind of account is guaranteed to protect your capital so you will always get back what you had put in and over and above that is the rate of interest for the account. Different types of bond accounts offer a higher rate of interest than regular savings accounts.

A bond/term savings account is always taken out for a specific period which is usually 1 year to 5 years. You might not be able to access your savings during this specified period. Withdrawals from your account during this period might come with some heavy penalties like loss of interest rate etc.

The interest payable on different types of bond accounts depends on the product and company chosen. Interest payments are normally made when the bond matures, although some may offer monthly or annual payouts.

Some of the different types of bond accounts are:

•  Short term fixed rate bonds: These allow you to invest for a period of up to one year. Banks like First Save, Wesleyan and Northern Rock offer these short term bonds.

•  Medium term fixed rate bonds: These bonds allow you to choose to invest for a period between one and three years. Stroud & Swindon BS, Cheshire BS, Dunfermline BS are some banks offering medium term bonds at attractive interest rates.

•  Long term fixed rate bonds: These bonds offer the best rate of interest as the money is locked away for a longer period of up to 5 years. You can invest in these with Nottingham BS, ICICI Bank UK, Aldermore and there are many others.

Withdrawals or access to your investment varies from bank to bank with different charges/conditions. Interest pay-outs also vary from bank to bank with some offering yearly pay-outs and some offering it only on maturity of the bond.

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