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5 Year Fixed Rate

2.66%AER*

  • Know how much interest you will earn
  • Monthly or annual interest
  • Save from £1,000 up to £100,000
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

Is this the best savings account for you?

  • You are happy and able to leave your money untouched for the full period of the fixed term account
  • You want to know exactly what interest you’ll earn on your savings
  • You are happy to manage your account online
  • You want to be able to access your money if you need it
  • You want to be able to make additional deposits
  • You want an account where your rates will move up and down in-line with base rate changes
Savings account summary5 Year Fixed Rate
Account name 5 Year Fixed Rate savings account
What is the interest rate? Annual: 2.66% Gross** / AER*
Monthly: 2.63% Gross** / 2.66% AER*
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.
** Gross is the rate of interest payable before any income tax is deducted.
Interest will be paid monthly on the day of the month you first paid into your account or annually on the anniversary of making your opening deposit.
Can Paragon Bank change the interest rate? No. The interest rate is fixed for the fixed term.
What would the estimated balance be after 60 months based on a £1,000 deposit? £1,140.27 based on £1,000 over 60 months at 2.66%

This is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account? Online. Minimum balance £1,000 up to a maximum of £100,000 (plus any resulting interest). Account holders must be aged 18 or over and a UK resident for tax purposes.
Can I withdraw money? You cannot make withdrawals during the fixed term. We will write to you before your fixed term ends to give you instructions on what to do next.
Additional information You have up to 30 days from the date of your application to make your opening deposit.

Provided you make your opening deposit within 14 calendar days of your application we’ll guarantee the interest rate shown when we received your application or, if higher, the rate on our website at the time you make your opening deposit.

If rates change after 14 calendar days and you haven’t made your opening deposit, we’ll pay the rate advertised on the day we receive your deposit.

All deposits must be made from your nominated bank account. This account must be in the name(s) of both or either account holder.
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Why choose this savings account?

  • Know how much interest you will earn
  • Monthly or annual interest
  • Save from £1,000 up to £100,000
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New customer?

Apply now

The relevant terms and conditions documents can be found below, available for download

What you will need
Important information
Terms & conditions
  • Your contact details
  • Your email address
  • Details of the UK current account, in your name (either as sole or joint holder), that you would like to set up as your nominated bank account

Power of attorney

If you are applying for this account as a power of attorney, you will need to call our customer services team on 0800 052 2222 to complete your application. For further information about power of attorney please visit our FAQs.

  • You can only make your deposit via electronic transfer or by cheque from the nominated bank account you chose during your application
  • If you are unable to make your opening deposit in a single transaction – perhaps due to limits on electronic payments set by your bank – we can accept additional deposits into your account for five business days after we receive your opening deposit
  • We will write to you before your account matures with what options are available to you. If you don't provide us with alternative instructions, your fixed rate account will automatically switch to an easy access account. Details of the easy access account will be provided near to your maturity date
  • You cannot make withdrawals during the fixed rate period
  • We are registered under the Financial Services Compensation Scheme (FSCS) which means your eligible savings are protected up to the statutory limit of £85,000

Before you apply for your account please make sure you have read and understand both our Product Terms and Conditions and General Terms and Conditions


customerstorytile_hillarysmith
Opening my Paragon Bank account was very easy and straightforward but it was the reassurance I received from the communications and customer service that really impressed me. It’s great to know I am being looked after

Hillary Smith

customerstorytile_leerenaut
The rates on the high street weren’t particularly attractive, but after searching online and coming across Paragon Bank, I haven’t looked back. Paragon Bank’s savings accounts are simple, clear and easy to understand

Lee Renaut

customerstorytile_joepollins
The accounts ticked all the boxes and everything is just so easy – they give a reasonable return and are covered under the FSCS protection scheme, giving me the maximum security

Joe Pollins

Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551

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