Is a Fixed Term Savings account right for me?
Updated 11 months ago
The most important thing to remember about this type of savings account is that you cannot access your money until the end of the agreed term, so you should only consider saving an amount that you know you won’t need until your term is up.
As everything is fixed, you’ll know exactly how much interest you’ll earn by the end of your term. Some people find it easier to save when they know their money is stored away and the temptation to spend is removed.
Fixed Term Savings tend to offer higher interest rates than other types of savings accounts because you’re committing your money to a term.
If you want more flexibility in accessing your savings, you may wish to consider our Smart Saver account instead. You can find out if this account is more suitable for you here.
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