Fixed rate savings account

Saga Fixed Rate Savings Accounts, provided by Birmingham Midshires, are ideal if you want to be sure of the exact rate of interest your deposit will earn.  

  • An attractive rate of interest fixed for the term of your account
  • Deposit anything between £1 and £10 million per customer
  • A choice of interest options and saving terms to suit you
  • Withdrawals are not allowed on our 1 Year Fixed Rate Savings Account
  • Withdrawals are allowed on terms of 2 years and above subject to a charge. The charge will depend on the length of term remaining at the time of access and is the equivalent of a number of days gross interest on the amount withdrawn. The charge will be taken from the account balance and depending on when the withdrawal is made, may result in you getting back less than you originally deposited. See the summary box for specific withdrawal arrangements.


Earn up to 4.20% gross/AER with Saga Fixed Rate Savings
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Fixed Rate Savings Account

Our Fixed Rate Savings Accounts are for simple lump sum deposits designed for those looking for an attractive fixed rate.

Summary boxes

Saga 1 Year Fixed Rate Savings Account
Account name Saga 1 Year Fixed Rate Savings Account
Interest rates (AERs) 3.00% gross/AER fixed for 1 Year
Tax status Interest will be paid net of income tax (currently 20%) unless you register to receive gross interest
Conditions for bonus payment There is no bonus available on this account
Withdrawal arrangements

Withdrawals are not allowed

Access Postal

 

Saga 2 Year Fixed Rate Savings Account
Account name Saga 2 Year Fixed Rate Savings Account
Interest rates (AERs) 3.60% gross/AER fixed for 2 years
Tax status Interest will be paid net of income tax (currently 20%) unless you register to receive gross interest
Conditions for bonus payment There is no bonus available on this account
Withdrawal arrangements

Withdrawals are allowed on terms of 2 years and above subject to a charge. The charge will depend on the length of term remaining at the time of access and is the equivalent of a number of days gross interest on the amount withdrawn as shown below. This charge will be taken from the account balance and depending on when the withdrawal is made, may result in you getting back less than you originally deposited. See the account conditions for specific withdrawal arrangements.

1 year or less: 90 days loss of gross interest
Up to 2 years: 180 days loss of gross interest

Access Postal

Saga Internet 2 Year Fixed Rate Savings Account
Account name Saga Internet 2 Year Fixed Rate Savings Account
Interest rates (AERs) 3.60% gross/AER fixed for 2 years
Tax status Interest will be paid net of income tax (currently 20%) unless you register to receive gross interest
Conditions for bonus payment There is no bonus available on this account
Withdrawal arrangements

Withdrawals are allowed on terms of 2 years and above subject to a charge. The charge will depend on the length of term remaining at the time of access and is the equivalent of a number of days gross interest on the amount withdrawn as shown below. This charge will be taken from the account balance and depending on when the withdrawal is made, may result in you getting back less than you originally deposited. See the account conditions for specific withdrawal arrangements.

1 year or less: 90 days loss of gross interest
Up to 2 years: 180 days loss of gross interest

Access Online

Saga 5 Year Fixed Rate Savings Account
Account name Saga 5 Year Fixed Rate Savings Account
Interest rates (AERs) 4.20% gross/AER fixed for 5 years
Tax status Interest will be paid net of income tax (currently 20%) unless you register to receive gross interest
Conditions for bonus payment There is no bonus available on this account
Withdrawal arrangements

Withdrawals are allowed on terms of 2 years and above subject to a charge. The charge will depend on the length of term remaining at the time of access and is the equivalent of a number of days gross interest on the amount withdrawn as shown below. This charge will be taken from the account balance and depending on when the withdrawal is made, may result in you getting back less than you originally deposited. See the account conditions for specific withdrawal arrangements.

1 year or less: 90 days loss of gross interest
Up to 2 years: 180 days loss of gross interest
Up to 3 years: 270 days loss of gross interest
Up to 4 years: 320 days loss of gross interest
Up to 5 years: 365 days loss of gross interest

Access Postal

 

AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product, which quotes an interest rate will contain an AER you will be able to compare more easily what return you can expect from your savings over time.

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

AER stands for Annual Equivalent Rate and illustrates what the rate of interest would be if interest was paid and compounded once each year.

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

The deposit-taker for Saga Savings Accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered on the FSA Register and its number is 169628. Registered office: The Mound, Edinburgh, EH1 1YZ (Registered in Scotland No. SC327000).

 

For details of the Financial Services Compensation Scheme click here, or for historical rates of previous savings products please click here.