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What is the difference between a Fixed Rate Account and a Fixed Rate Bond?

April 26, 2017account Bond difference fixed rate

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What is the difference between a Fixed Rate Account and a Fixed Rate Bond?

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There is no difference between a Fixed Rate Account and a Fixed Rate Bond, they are exactly the same thing. These accounts are designed for savers who are able to save a lump sum for a fixed term without the need to make any withdrawals. Fixed Rate Accounts (or Fixed Rate Bonds) attract a fixed rate of interest meaning savers know exactly how much interest they will receive over the term of their account/bond. The HiSAVE name for this type of account is a HiSAVE Fixed Rate Account.