Available until 5pm on 06th December 2023 for new customers and 11th December 2023 for existing customers. Please be aware that this offer can be withdrawn at any time. To apply, you must be 16+ and a UK resident. Early closure charges may apply.
Our Fixed Term Savings Account
Set aside a lump sum for 1 or 2 years and you’ll know exactly what interest rate you’ll get and how much your money will grow
1 year terms - earn 4.90% / 4.79% AER/Gross on balances between £1 - £5,000,000
2 year terms - earn 4.70% / 4.60% AER/Gross on balances between £1 - £5,000,000
You can save between £1 - £5,000,000 per term
How does it work?
It’s quick and easy to apply. Just click Apply now to get started. If you don't already have a current account with us you can open one here.
Choose your term
It’s up to you – pop in a lump sum and choose how long you’d like to fix your savings for. You will know how much exactly you will have earned by the end of the term.
Fix your money
Sit back and see your money grow. Remember, your money is locked away for the term you choose so you won’t be able to access until then.
Opening your Fixed Term Savings account
Whether you are a new or existing customer, you can still open a Fixed Term Savings account with us. Please be aware that this offer can be withdrawn at any time. Early closure charges may apply.
Account name: Fixed Term Savings Account
What is the interest rate?
Can Royal Bank change the interest rate?
No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the Maturity Date.
What would the estimated balance be at maturity based on a range of deposits?
Deposit at start date
Balance at maturity date
How do I open and manage my account?
To open a Fixed Term Savings account:
- You must be aged 16 years or over and a UK resident to open an account.
- This account is for sole applicants only and cannot be opened in joint names
- If you already have a current account with us you can open your account on our mobile app or online
- If you don’t have a current account with us you will need to open your account online before setting up our mobile app
- We will need your email address and mobile number to open your account
- Your balance at the Fixed Term Start Date must be at least £1
- The maximum deposit is £5,000,000
- We will send you a certificate of deposit within 14 days of the Fixed Term Start Date
Key dates 1 year
Key dates 2 year
AER: This is a notional rate used for interest bearing accounts which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts.
Gross Rate: The interest rate you are paid without the deduction of income tax.
p.a.: per annum (per year).
Get ready to apply
Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.
First things first. Please take a look at the important legal info:
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.