Fixed Rate Saver

A fixed-term savings account is a locked savings account that offers a fixed interest rate until it unlocks (or matures).

Key details of a fixed-term savings account:

Fixed interest rate:

Your interest rate won’t change, so you’ll always know how much interest you’ll earn.

One-time deposit:

To open a Fixed Rate Saver, you’ll need to deposit at least £1,000. You can add more funds during a short window after opening, until the account closes for further deposits.

No early access:

Withdrawals are only allowed after the account reaches its maturity date.

This account is ideal for those who don’t need instant access to their savings and want a secure way to save.

This account is perfect for you if:

• You have a lump sum (minimum £1,000) you won’t need access to during the term.
  
  
• You’re looking for a competitive, fixed interest rate.
  
  
• You want a secure and risk-free savings option with GWCU

When your fixed-term savings account matures after the term is over, you’ll have full access to withdraw your funds and the accrued interest will be added to your account balance.

You can also reinvest the funds into a new Fixed Rate Saver, if it is available.

No, withdrawals from the Fixed Rate Saver are not allowed before the maturity date.

You can find your account’s maturity date on our website, or in the email you received when you opened the account.

The Fixed Rate Saver operates on a gross interest rate, meaning tax is not deducted.

It’s your responsibility to report and pay any applicable taxes to HMRC.