One-year Fixed Rate savings accounts. One platform.

Fixed Rate accounts (also known as ‘Fixed Term’) offer predictable interest rates in exchange for locking your money away for a set period. One-year Fixed Rate savings accounts secure your deposit for 12 months.

A one-year fix can give you a higher interest rate than you may get with Instant Access accounts. 

Once you deposit money into one-year Fixed Rate savings account, you won’t be able to access those funds for 12 months. Interest is paid monthly, quarterly, or annually, depending on terms that govern your account.

The AER (Annual Equivalent Rate) you see on each account is the one you get. So, you know exactly what you’ll earn, with no fees or surprises. 

There’s no limit on the number of one-year Fixed Rate savings accounts you can hold at one time. But it helps to track the maturity dates of each account, especially if you’ve got an earnings goal in mind.  

Opening multiple accounts with Flagstone lets you vary your maturity dates, so you unlock more regular access to portions of your money.

If the account provider is approved by the Prudential Regulation Authority (PRA), then your deposits are protected up to £120,000 through the Financial Services Compensation Scheme (FSCS).  

The limit applies per person, per institution. This means multiple accounts can increase your protection. 

One-year Fixed savings accounts balance access with high interest. But building a portfolio of multiple account types can maximise your flexibility without overly restricting your access to cash.

For example, you could also open an account with a three-month term, locking away some of your cash for a shorter amount of time.

You can also fix some of your savings for two years or even five-year terms. This can maximise your interest rates.