Compare 5 year savings bonds

The Cynergy Bank 5 Year Fixed Rate Bond offers a compelling option for savers looking to lock in a competitive return over a medium-to-long term. This fixed-term savings account requires a minimum initial deposit of £1,000, catering to individuals and joint applicants who are permanent UK residents. Designed for capital growth without access for the entire duration, it can hold a maximum balance of £1,000,000. Savers can rest assured that their deposits are protected by the Financial Services Compensation Scheme (FSCS), safeguarding their funds up to the stipulated limits. This bond features a fixed Annual Equivalent Rate (AER) of 5.00% and a Gross Rate of 4.88%, ensuring your returns remain constant for the entire 60-month (5-year) term. The interest is applied consistently across all eligible balances, starting from £0. Savers have the flexibility to choose how they receive their interest payments, with options for either annual or monthly payouts, allowing them to tailor the account to their income needs or compounding preferences. Managing your 5 Year Fixed Rate Bond is straightforward, with all account operations handled conveniently online. It's crucial for prospective savers to understand the strict access rules associated with this product: no withdrawals are permitted at any point prior to the maturity date, and early closure of the account is not an option. This makes the bond ideal for those who are certain they won't need access to their funds for the full five-year period and are committed to maximizing their long-term savings growth.