Fixed Rate Savings: A Smarter Way to Grow Your Money in 2025
In a world of financial uncertainty and rising living costs, one thing most of us crave is security —especially when it comes to our money. That’s where fixed rate savings accounts come in. These accounts are a popular choice in the UK for savers who want predictable returns without the volatility of stocks or the low yields of instant access accounts. But what exactly are fixed rate savings, and are they right for you? What Are Fixed Rate Savings? A fixed rate savings account is exactly what it sounds like: you deposit a sum of money and agree to lock it away for a set period—typically 1, 2, or 5 years—in exchange for a guaranteed interest rate . You know exactly how much you’ll earn. Your savings are protected (up to £85,000) under the FSCS. You're not exposed to market risk. The trade-off? You can’t usually access the money during the term without penalties. Why Fixed Rate Savings Are Popular in 2025 As the Bank of England adjusts its base rate, more UK b...