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Fixed Rate Saver

Earn a fixed return on your lump sum, knowing your money is working hard for you and for local people.

This account is currently closed for deposits but we are launching something exciting, soon!

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Savings with a purpose

Make a positive impact by supporting ethical banking that offers fair loans to local people who need credit but may struggle to borrow affordably elsewhere.

Make a stand for inclusive banking, help us promote financial wellbeing and give our local economy a boost.

  • Minimum deposit ÂŁ1,000
  • Deposit up to ÂŁ80,000
  • Protected by the FSCS
Suitable for savers who:
  • want to grow their lump-sum of savings

  • prefer fixed, predictable returns

  • like the convenience of managing their account online

  • want to save with a values-driven financial organisation
Not suitable for savers who:
  • need easy access to their savings
  • do not have at least ÂŁ1,000 to save
  • want to manage their finances day-to-day
  • are not UK residents

Helpful information

What is a fixed-term savings account?

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.

Is the Fixed Rate Saver the right choice for me?

This account is perfect for you if:

  • You have a lump sum (minimum ÂŁ1,000) 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
What happens when my fixed term ends?

When your fixed-term savings account matures, 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.

Can I access money from the Fixed Rate Saver before maturity?

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.

Are my savings in the Fixed Rate Saver taxed?

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.

Previous Fixed Rate Saver tranches

Our previous Fixed Rate Saver tranches are listed below.

Fixed Rate Saver- October 2025

The following details related to the Fixed Rate Saver that is due to mature 31 October, 2025
Close date: 15 November, 2024
Maturity date: 31 October, 2025
AER/gross: 4.75%

Fixed Rate Saver- March 2026

The following details related to the Fixed Rate Saver that is due to mature 6 March, 2026
Close date: 07 March, 2025
Maturity date: 06 March, 2026
AER/gross: 4.75%

Fixed Rate Saver- May 2026

The following details related to the Fixed Rate Saver that is due to mature 21 May, 2026
Close date: 22 May, 2025
Maturity date: 21 May, 2026
AER/gross: 3.8%