2 Year Fixed | The Savings Guru

2 Year Fixed

Provider	Rate	Min/Max Deposit	Opening Account	Accessing Account	Interest Options	SG Verdict
Z Al Rayan Bank	1.76%	£5,000 / No Maximum	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Away or Compounded Paid Quarterly	This account pays expected profit, rather than interest, to meet Sharia law requirements. Those savers comfortable with this are likely to be attracted by the variety of channels to open and manage their account
Apply Now	1.50%	£1,000 / £85,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid On Maturity	QIB (UK) Plc are a Sharia bank and their products are only available via the Raisin UK platform. It currently comes with a £50 bonus for new customers depositing £10,000 or more You can find out more about Raisin here
Z BLME	1.60%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid On Maturity	This account pays expected profit, rather than interest, to meet Sharia law requirements. You can find out more about them here
Charter Savings Bank	1.41%	£5,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Away or Compounded Paid Monthly Paid Annually	Wolverhampton based Charter Savings launched in 2015. It is now part of One Savings Bank which looks after a combined £16.6bn across its Charter Savings and Kent Reliance savings brands
Close Brothers	1.55%	£10,000 / £2,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Annually Paid Away	Close Bank have been trading since 1878, are a FTSE 250 listed company and look after over £6.4bn of savings You can find out more about them here
Z Cynergy	1.41%	£10,000 / £1m	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Annually Paid Away	Cynergy was formerly known as Bank of Cyprus, which has operated in the UK since 1955, and looks after £1.76bn of savings
Gatehouse Bank	1.75%	£1,000 / £85,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Annually Paid Away	This account pays expected profit, rather than interest, to meet Sharia law requirements.
Hodge Bank	1.50%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually Annual interest paid 31st March	Hodge bank is based in South Wales and was authorised in 1987. It looks after just over £1bn of deposits.
Kent Reliance	1.41%	£1,000 / £1,000,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Away or Compounded Paid Monthly Paid Annually Monthly interest paid on the last working day of the month Annual interest paid on 5th April	Kent Reliance is part of One Savings Bank, a FTSE 250 listed company, and has 9 branches in Kent and the South East One Savings Bank has recently completed its merger with Charter Court Financial Services (which includes Charter Savings Bank) and now looks after combined savings balances of £16.6bn
Oxbury Bank	1.50%	£1,000 / £500,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid on Anniversary Paid Annually Paid Compounded	Oxbury is a specialist agricultural bank, focused on lending to UK farms. It got its banking licence in 2020 and launched savings accounts in February 2021. Savers will need a smartphone to download the Oxbury Banking App as part of the security measures to access their online account You can find out more abou them here
A Zopa Bank	1.56%	£1,000 / £250,000	Branch App Internet Post Telephone	Branch App Internet Post Telephone	Paid Monthly Paid Compounded	Zopa started life as a peer to peer lending business in 2005 but became a licensed bank in 2019 and launched their first savings accounts in August 2020. You can find out more about them here

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