Fixed Rate Saver
Grow your savings with a fixed rate and get up to £50 cashback.
Choose from our 9-month or 18-month Fixed Rate Saver accounts and know exactly what interest rate you'll receive for the fixed term.
And while our limited cashback offer is available, you can get up to £50 cashback when you open and fund either account.
Limited cashback availability. Terms and conditions apply.
Save with a fixed rate saving account and enjoy certainty
Your interest rate and date when the Fixed Rate Saver matures are fixed at outset and won't change. Saving with us doesn’t just make you better off – it helps other local people have better finances too.
- Start saving from £1,000 to £110,000
- Fixed rate savings with interest payable on maturity date
Fixed Rate Saver 8 cashback offer
Get up to £50 cashback with our Fixed Rate Saver
Open and fund a Great Western Credit Union Fixed Rate Saver 8 while our cashback offer is available and receive up to £50 cashback, depending on how much you deposit.
| Amount deposited | Cashback |
|---|---|
| £1,000 – £4,999 | £10 |
| £5,000 – £14,999 | £25 |
| £15,000+ | £50 |
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To receive your cashback, you need to:
- open a Fixed Rate Saver 8 account while the cashback offer is available
- deposit at least £1,000 within the opening period
- have your account open with your qualifying deposit still in place on the account close date
- meet the standard Fixed Rate Saver 8 account terms and eligibility requirements
We'll pay your cashback within 7 working days of the account close date.
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Don’t miss out on cashback
Cashback is available for a limited time and we’ll close the offer once the limit is reached. You’ll still be able to apply for our Fixed Rate Saver after this, but cashback will no longer be available.
If you've already qualified for cashback before the offer closes, you'll remain eligible as long as you continue to meet the cashback offer terms and conditions.
Full cashback offer terms and conditions apply.
Choose the right account for you
Whether you want to fix your savings for 9 or 18 months, our Fixed Rate Savers give you certainty about the rate you'll receive.
Plus, the money our members save with us helps Great Western Credit Union support responsible lending in the communities we serve.
Choose how long you'd like to save:
Open now: Lock in your savings today!
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Competitive 4.6% AER
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Lock savings for 9 months
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Minimum deposit is £1,000
Open now: Lock in your savings today!
- Competitive 4.85% AER
- Lock savings for 18 months
- Minimum deposit is £1,000
Benefits of a Fixed Rate Saver
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Guaranteed returns
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Higher interest ratesÂ
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No risk of interest rate dropsÂ
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Help you hit your savings goals
Recent Fixed Rate Saver Tranches
Our previous Fixed Rate Tranches are listed below.
The following details related to the Fixed Rate Saver that is due to mature 13 November, 2026
Close date: 5 December, 2025
Maturity date: 13 November, 2026
AER/gross: 4.25%
The following details related to the Fixed Rate Saver that is due to mature 20 May, 2027
Close date: 5 December, 2025
Maturity date: 20 May, 2027
AER/gross: 4.35%
The following details related to the Fixed Rate Saver that is due to mature 26 March, 2027
Close date: 27 March, 2026
Maturity date: 26 March, 2027
AER/gross: 4.00%
The following details related to the Fixed Rate Saver that is due to mature 14 June, 2027
Close date: 15 June, 2026
Maturity date: 14 June, 2027
AER/gross: 4.20%
The following details related to the Fixed Rate Saver that is due to mature 14 June, 2028
Close date: 15 June, 2026
Maturity date: 14 June, 2028
AER/gross: 4.30%
Frequently asked questions
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 £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
What happens when my fixed term ends?
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.
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.
Working for our members
Our friendly Member Engagement Team live and work in our communities. They're specially trained and ready to help you.