Grow your savings with a Fixed Term Account

With interest rates up to 3.39% and terms ranging from 6-60 months, save for your future with a Fixed Term Savings Account that works for you.

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The perfect way to plan for your future

Whether you’re already a long-time saver or at the start of your savings journey, a Fixed Term Savings Account can help your money grow, so you can reach your long-term goals.

A Fixed Term Savings Account, sometimes referred to as a Fixed-Term Deposits Account or a Fixed Bond Account, allows you to lock away a sum of money for an agreed time period.

This could be six months, nine months, 12 months or up to five years – the longer you lock it up, the more interest you earn. It’s important to know that once you’ve put your savings away, you won’t be able to access them until the end of the agreed time period. So, make sure you choose the right account that works for you.

What do you get with an OakNorth Fixed Term Savings Account?

Transparent returns

You’ll know what you’ll get back – and that won’t change. We’ll let you know how much interest you’ve earned throughout.

No hidden fees

You’ll earn money on your savings, and we won’t take any fees from you. It’s as simple as that.

Low minimum deposits

We won’t make you deposit a large amount just to create an account. You can open an OakNorth Fixed Term Savings Account with just £1.

How long can you lock your savings away?

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6 months

Ideal for short-term savers

Ideal if you:

  • Have a short-term savings goal
  • Need access to your money after six months
  • Are starting out as a saver
Apply now
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9 months

Ideal for short-term savers

Ideal if you:

  • Have a short to mid-term savings goal
  • Aren’t ready to commit to a full year yet
  • Can’t lock your money away for too long
Apply now
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12 months

Our most popular account

Ideal if you:

  • Are saving for something big, like a holiday
  • Have savings you can put away for a year
  • Can’t wait too long, but want a higher return
Apply now
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15 months

For short to mid-term savers

Ideal if you:

  • Are saving for a new project or life event
  • Have savings you don’t need to access any time soon
  • Can lock your money away for longer than a year to get higher returns
Apply now
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18 months

Ideal for mid-term savers

Ideal if you:

  • Are saving for a longer-term goal like a new car
  • Have a date in mind that you’d like to access your money
  • Want a higher interest rate to see your money grow
Apply now
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24 months

Ideal for long-term savers

Ideal if you:

  • Are saving for something big and long-term, like a mortgage or home renovation
  • Don’t need access to your savings in the immediate future
  • Want the best interest rates to earn more on your savings
Apply now
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30 months

Ideal if you:

  • Are saving for something big and long-term, like a mortgage or home renovation
  • Don’t need access to your savings for over two years
  • Want to make the most of more competitive rates
Apply now
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36 months

Ideal if you:

  • Are saving for something like a mortgage, retirement fund or child’s higher education
  • Don’t need access to your savings for three years
  • Want to earn more through very competitive rates
Apply now
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48 months

Ideal if you:

  • Are saving for something like a mortgage, retirement fund or child’s higher education
  • Don’t need access to your savings for four years
  • Want to maximise returns through the highest interest rates
Apply now
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60 months

Ideal if you:

  • Are saving for something like a mortgage, retirement fund or child’s higher education
  • Don’t need access to your savings for five years
  • Want to maximise returns through the highest interest rates
Apply now

 

Rates for reinvesting Fixed Term Savings customers can be found here.

What customers think about our Fixed Term Savings Accounts

See how our interest rates compare to other banks

Banks include (where applicable): Nationwide, Barclays, HSBC, Santander. Updated on 01st August 2022.

Why save with OakNorth?

Earn more with competitive rates

With an OakNorth Fixed Term Savings Account you could earn up to 3.39% interest to help your savings grow.

Set up your account in minutes

Opening a Fixed Term Savings Account with us is easy. You can apply in minutes and won’t need to fill out long forms.

Manage your money easily

You can keep track of your money and watch your earnings increase from our app or your online account.

Save securely with FSCS protection

Your eligible deposits are protected up to £85,000 by the Financial Services Compensation Scheme, so your savings are secure.

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It's all on the app

Whether you want to watch your savings grow, personalise account names, manage existing accounts or open new ones, it’s easy on the app.

Welcome to straightforward saving with style.

How do I open a Fixed Term Savings Account?

When you lock up your savings, you won’t be able to access them until your maturity date, when you can redeem the interest you’ve earned. This means it’s important that before you apply you choose the right account for you.

We have Fixed Term Savings Accounts that start from six months and go up to 60 months, so you can save for as long as you’re comfortable. If you’ve chosen your account, apply online or through the OakNorth app. You’ll be asked to select the account you want to open and fill out a few details. From there you can deposit into your account, then you’re all set to save.

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protection
Protection for peace of mind

As a fully-licensed bank, we offer the same level of protection as the traditional high street banks. When you save with us your money is protected up to £85,000 by the Financial Services Compensation Scheme (FSCS).

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Not the right account for you?

Fixed Term Savings Accounts aren’t for everybody. If you’d prefer quicker access to your money, view our other savings products, including our Easy Access or Notice Accounts.

View all savings products

FAQs

If you’re over 18 years old and you’re a resident of the UK – i.e. you have a permanent UK address that you’ve had for over three years – then you’re eligible for an OakNorth fixed term savings account. You’ll also need to have a personal UK bank or building society account to transfer funds into your account

Yes. You can open a joint savings account online from our website. We currently don’t offer joint account applications via the app. Joint accounts exclude ISA products.

To apply you will need:

● A valid email address and phone number
● Your UK address details
● Details of the bank account you will be transferring your funds from

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