Fixed rate savings accounts

If you can put your money away for a set period of time we'll pay you a fixed rate of interest. This is a limited issue account which could be withdrawn at any time. Find out more about the account below.

Download the app

Open an account online

What’s a fixed rate account?

Our fixed rate accounts are exactly what it sounds like: an account with a fixed rate so you know exactly how much interest you'll earn. That also means the interest rate won’t change during the term of your account.

Terms usually range from five years down to just one year, and typically the longer the term is, the higher the interest rate. If you're saving for a long-term goal, such as a home renovations or a wedding and want to lock your money away without touching it, a fixed rate savings account could be ideal for you.

Remember: after your initial deposit, you can only add or remove money whilst the issue is still open. After that you can't add further funds or withdraw until the term ends.

Open an account online

The highlights

UK residents aged 18 or over
Open online with £500 today
Earn annual interest
Fixed return on your investment
No access to funds until term ends
Manage your account 24/7

Why choose a fixed rate account?

One fixed rate

Once you open your fixed rate account, the interest rate will stay the same for the term of your account. That might be just one year, or up to five.

Understand your interest

With a fixed rate savings account you know exactly how much interest you’ll get at the end of the fixed term, as long as you don't make any withdrawals.

Unlock higher rates

By locking away your money for longer, you can unlock higher interest rates. While you won’t be able to access the money during the term of your account, it could be just the incentive you need to leave your savings pot untouched.

Choose an account

You can open a savings account through the Beehive Money app. All of our accounts are just for UK residents; we pay interest annually; and how often (and how much) you can withdraw depends on the account. Bear in mind too that any of our products can be withdrawn at any time.

Need help deciding? Choose how much you’re likely to deposit to see the estimated total interest you could earn in 12 months. We’ve calculated it using the AER (Annual Equivalent Rate), assuming you’ll put in the amount you’ve chosen on the day that account launches. This gives you an idea of how much interest you might earn, based on your deposit.

Things to know

Your gross rate is the amount of interest you’ll earn each year before tax.

AER, or Annual Equivalent Rate, is designed to make savings accounts easier to compare. The AER will show you what your interest rate would be if interest was paid back into your account. For accounts that pay interest annually, the gross rate and the AER should be the same. For accounts that pay interest monthly the AER will be slightly higher than the gross rate. This is because if you leave your monthly interest in the account you’d start to earn interest on the interest.

Use the calculator below to get an idea of how much you could save, and the interest you could earn:

Future Goal Bond

1.00%

AER/Gross p.a*
Fixed until 31/07/2023
No withdrawals
Open online
Minimum deposit £500
Maximum deposit £250,000
Min age 18 yrs

Product information (PDF 75.2KB)

Including your interest,
you could save

These are just estimates and they’re for illustrative purposes only. Deposit examples may not reflect actual product deposit limits. We’ve based our calculations on the assumptions that the account is opened the day it’s made available; the interest rate doesn’t change; interest is paid straight into your account; and that you don’t put in any more money or take it out. So, if any of these things change, so will the amount of money you earn on your deposit.

*We will pay your interest without tax taken off. It is your responsibility to declare any interest you earn over your personal savings allowance directly to HMRC. Your tax treatment will depend on your individual circumstances and may be subject to change in the future, for further information please contact HMRC. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was re-invested in the account each year. Interest rates are variable unless otherwise stated.

Ready to get started?

Download and sign up

Install the Beehive Money app and follow the instructions you see on your screen. Or, if you'd prefer, you can open an account online!

Take your pick of accounts

Once you have access to Beehive, choose from the fixed rate savings account, one of our easy access accounts or a Lifetime ISA.

Set goals, achieve milestones

You’re more likely to achieve your dream if you set goals. Our goal tracker and a helpful milestone will help motivate you to save for a brighter future.

Your savings are protected

Your savings will be protected up to a total of £85,000 by the Financial Services Compensation Scheme. There’s more about that here.

Looking for something different?

Don’t sweat it, we have a range of accounts you can choose from. Check them out below.

Retirement Lifetime ISA

Do you already own your home and want to open a Lifetime ISA to save for your retirement? If you're aged between 18-39 then check out our Retirement Lifetime ISA.

See our Retirement LISA

Easy access

Our easy access account is a flexible account with very few restrictions, which makes it a great choice for those who want to put away money but be able to access it at any time, without charges or penalties, and it’s never, ever ‘locked’ away.

See our easy access accounts

All savings accounts

Not sure about which account you’re after? Whatever your goals and however you’d like to save, we have a range of accounts for almost everyone at Beehive.

See all our accounts