Choose the best term deposit interest rates

If you are thinking of opening a savings account and you have a large amount of money that you will not need to have access to for a few years then you ideally should open a fixed term account. This type of account offers the best fixed term deposit interest rates so you are maximising your income while still keeping your money safe.

A great place to start your comparison search is with Money Supermarket. A quick search of fixed term accounts will return a results page bursting with information. You will be able to view the highest AER rates from top to bottom so you will definitely be drawn toward the accounts higher up the list.

Make sure to look at all of them though as an account that pays a little less AER may have better conditions such as a couple of withdrawals per year minus any penalties or fees. Visit www.moneysupermarket.com/savings and start your search immediately.

Another top comparison website is This is Money. The same drill as before applies here. Simply input the relevant information in your search form and you will get a list of UK fixed term deposit interest rates in ranked order. You can click the links next to the accounts to open up the financial institutions website and from there you can apply for an account. Check out www.thisismoney.co.uk/money/saving for more information.

Also, remember that both these sites update their lists regularly and whenever a bank introduces a new account then if it is good enough value it will appear here.

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