Fixed Rate savings
Our Fixed Rate accounts lock in a great rate of interest so you can sit back and relax while your savings grow. They’re quick and simple to open and provide the security of FSCS protection.
Is a Fixed Rate savings account right for you?
You want a predictable return on your savings
You don’t need access to your savings for the term
You can deposit at least £1,000 into your account
You can fully fund your account within 14 days of opening
FSCS protection, so your money’s protected up to £85,000 collectively across the Chetwood Bank and SmartSave brands.
What you should know
Earn interest from day one
No cooling off period
No early withdrawals
Managing your savings account online
Secure online banking to manage your money
Secure messaging about your account
We use nominated bank accounts for security
Download an interest report
Configurable notifications and alerts
Our Fixed Rate savings accounts
Fixed Rate
Minimum deposit £1,000 | No maximum deposit
Access your money at the end of your fixed term
* 'AER’ stands for ’Annual Equivalent Rate’ and illustrates what the interest rate would be if interest was paid and compounded once each year.
Why choose Chetwood Bank for your savings?
Our no nonsense approach to banking means that you’ll get easy to understand, straightforward savings accounts to help you achieve your goals, whether that’s simply saving for a rainy day, a deposit for a new home, or that holiday you’ve been eyeing up.
Easy to get help
Explore our fast answers, or if you need account specific help, use the secure messaging service to contact our support team.
Everything online
Set your account up in a matter of minutes, then manage your savings securely online.
FSCS protection
We’re a UK bank and our savings accounts are FSCS protected up to £85,000 collectively across our Chetwood Bank and SmartSave brands.
Fast answers to some common questions
Once you open your savings account, we'll email you to provide instructions on how to make your deposit. You can also find payment instructions in online banking - just click on 'View details' in your account summary on the homepage.
If you're a new customer, all deposits into your savings account must be made from your nominated current account. You must use the payment reference that we provide you exactly as it's displayed to ensure that we can match your money to your savings account. Any money deposited using an alternative payment reference will be returned.
If you're an existing customer and have more than one Chetwood Bank savings account, you can also transfer money between them.
Just log in to online banking, go to ‘Manage money,’ select ‘Withdraw or transfer,’ and follow the steps.
We don't place restrictions on the number of transactions for paying money into your savings account. If you'd prefer to pay your money in as a single transaction, this is fine with us. However, some banks limit how much you can transfer, particularly to new payees, in one go. If you'd like to pay your savings into your new Fixed Rate savings account using multiple transactions, that is also no problem for us. Each deposit transaction should show on your savings account within two hours of you making it.
Your bank might recommend making a single payment via CHAPS. Please be aware that your bank may charge you to do this. In addition the deposit may take us a little longer to acknowledge, but should show on your account by the end of the next working day.
Please remember that one of the features of a Fixed Rate savings account is that money can only be paid into the account within the first 14 days of opening the account - this is called the deposit window. Once the deposit window has closed, no further money can be paid in.
No, you can’t take money out or cancel a Fixed Rate savings account until the end of the term.
You should not deposit money in a Fixed Rate account if you think you will need access to it during the savings term.
We have an exceptional circumstances policy, so if you've been diagnosed with a critical illness or are entering insolvency, we can consider closing your account before the fixed term ends. In circumstances like these, we'll need proof of your circumstances before we close your account. Any interest accrued on your savings will be forfeited when we close your account before the fixed term ends. Please note that we're not obliged to close accounts before the fixed term ends.
Please send us a secure message, or call us on 01978 803976 if you need to discuss an early withdrawal from your Fixed Rate savings account due to exceptional circumstances.