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Fixed Rate Savings

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If you're looking to save for the future and have a lump sum you don't need access to, our fixed rate savings accounts could be right for you.

Need help deciding between an ISA or a bond? Our handy FAQs can help you make a more informed decision.


Our fixed rate savings accounts allow you to lock away a lump sum for a fixed term in exchange for a guaranteed rate of interest. These accounts are generally suited to savers who are thinking a little longer term.

If you open a fixed rate savings account you have a limited time to deposit funds into the account, after that you can’t pay into our fixed rate bonds or ISAs during the fixed term.

The interest on fixed rate ISAs is always free from income tax, whereas you'll pay tax on the interest earned on fixed rate bonds if you exceed your Personal Savings Allowance

Usually you can’t take money out of a Skipton fixed rate bond during the fixed term, however from time to time we may offer a fixed rate bond with limited access.

With a Skipton fixed rate Cash ISA, you can’t make partial withdrawals, but you can withdraw your full balance and close the account. If you do close the account early there is usually an interest penalty and you may get back less than you paid in.

If you’re looking for an account where you can access your money, take a look at our easy access accounts.

The obvious benefit to fixed rate savings is that your interest rate won’t fall at any point during the fixed period. However, it won’t rise either. And because you are locking your savings away you will usually receive a higher rate of interest than an easy access account.

You need to be aware that when you open one of our fixed rate savings accounts there is a short window for payments in. After that you can’t continue to pay in for the rest of the fixed term.

Most of our fixed rate bonds don't allow withdrawals or closure during the fixed term. If you want to withdraw from our fixed rate ISAs before the end of the fixed term you will have to withdraw the full balance, the account will close and you will have to pay an interest penalty, meaning you may get back less than you paid in.

Each different type of fixed rate account has its own set of pros and cons. You should take a look at each account in detail to make sure it’s right for you.

Each fixed rate savings account will have its own fixed term. Our fixed rate accounts typically range from one year to three years.

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Whatever your future goals, find out if your money is on course to get you there with a friendly, no pressure conversation.

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You're protected up to £85,000

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money
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