Fixed Rate Saver
Lock away your savings for 18 months and earn a competitive rate of interest at 4.35% AER.
Coming 17 October 2025: secure your fixed rate as soon as it opens!
Savings with a purpose
Earn a fixed return on your lump sum, knowing your money is working hard for you and for local people.
Make a stand for inclusive finance, improve your financial wellbeing, and give our local economy a boost.
- Minimum deposit ÂŁ1,000
- Deposit up to ÂŁ80,000
- Protected by the FSCS
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Want to grow their lump-sum of savings
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Prefer fixed, predictable returns
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Like the convenience of managing their account online
- Want to save with a values-driven financial organisation
- 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
Key details
4.35% AER
Your deposits are locked for 18 months and will be available again on 20 May, 2027.
The minimum savings for this account is ÂŁ1,000.
Opening a savings account with GWCU
Are you eligible?
To begin saving with GWCU, you must meet the following criteria:
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You must be aged 18 or over
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You must live or work in Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset
Ready to start saving with GWCU?
Applying is easy. Here is what you'll need.
We need this so we can contact you easily. It also helps you verify your account when you log into the member portal.
This is important so we can send your savings account documents to you.
This to prove your identity.
Frequently asked questions
What would the estimated balance be at the maturity date based on a £1,000 deposit?
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Gross interest will be added at the maturity date at the rate of 4.35% AER.
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This means that if you deposited ÂŁ1,000 on the close date the estimated balance at the maturity date would be ÂŁ1,064.95.
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If you deposited ÂŁ1,000 on the open date the estimated balance at the maturity date would be ÂŁ1,069.12.
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 wonât change, so youâll always know how much interest youâll earn.
One-time deposit:
To open a Fixed Rate Saver, youâll need to deposit at least ÂŁ1,000. 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 donât 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 wonât need access to during the term.
- Youâre 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, youâll 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 accountâs 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.
Itâs 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.