We use cookies to track usage and preferences.
I understand
Cookies policy

1 Year Fixed Rate

2.01%AER*

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

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 summary1 Year Fixed Rate
Account name 1 Year Fixed Rate savings account
What is the interest rate? Annual: 2.01% Gross** / AER*
Monthly: 1.99% Gross** / 2.01% 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 12 months based on a £1,000 deposit? £1,020.10 based on £1,000 over 12 months at 2.01%

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.
fixed_already_a_customer-why-choose

Already a customer?

Simply login to open a new account with us

 

Why choose this savings account?

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

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.

Deposits

Make your deposit by electronic bank transfer or cheque.​

All deposits must come from the nominated bank account. This account must include your full name, either as a sole or joint holder​.

Existing customers can make a deposit from their existing Paragon accounts (subject to account terms and conditions)​.

Additional deposits can be made for five business days after we receive your opening deposit.

Withdrawals

You cannot make withdrawals during the fixed rate period.

Maturity

We will email your maturity options to you before your account matures. If we don’t receive your instructions your fixed rate account will automatically switch to an easy access account. Details of this account will be provided before your maturity date.​

Keeping you informed

We have a duty to tell you important information about your account as part of our terms and conditions. As these are service messages you won’t be able to opt out of receiving them.

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_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

customerstorytile_robertanderson
Having a competitive rate was great but having an account I could set up and access from my office was just as important - the set-up process was very quick and simple to use

Robert Anderson

customerstorytile_johndinham
I was impressed with how simple it was to open the account and how quickly I could transfer the money in from my maturing account. The telephone back-up was helpful and the whole process was very efficient

John Dinham

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

Click here to see your activities