06.02.2019 | 3 minutes estimated reading time | Print this article

Don’t worry about Brexit; save your savings!

It’s been a rocky time for Brexit, with Theresa May’s initial Brexit plan being rejected and all the subsequent parliamentary drama looking more like a soap opera. However it needn’t be a rocky time for your savings. If you’re concerned about how your savings will be affected, one option that may be ideal for you is to put your savings into a short-term fixed term savings deposit.

Prepare for Brexit with fixed term rates

By depositing your money into a fixed term deposit savings account before Brexit, you won’t have to worry about interest rates fluctuating, regardless of what kind of deal we go ahead with. Once you open a fixed term deposit, the rate that you earn is fixed until your savings account matures.

If you just want to lock your money away for the short-term, at Raisin UK, our marketplace features two savings accounts with fixed terms of less than a year, a 9 Month Fixed Term Deposit at 1.70% AER from Bank & Clients (B&C), and a 9 Month Fixed Term Deposit at 1.65% AER from ICICI Bank (UK):

 

B&C

9 Month
Fixed Term Deposit

1.70% AER

Find out more

ICICI Bank UK plc

9 Month
Fixed Term Deposit

1.65% AER

Find out more

 

If you’re happy to deposit your money for a longer fixed term, you can get better rates on fixed terms of one year through our marketplace. You can apply for a 1 Year Fixed Term Deposit at 2.05% from QIB (UK) or a 1 Year Fixed Term Deposit at 1.90% from B&C:

 

QIB (UK)

1 Year
Fixed Term Deposit

2.05% AER

Find out more

B&C

1 Year
Fixed Term Deposit

1.90% AER

Find out more

 

The Raisin UK savings marketplace is home to a variety of savings products to suit your savings needs, so if you feel more comfortable taking out a longer-term fixed term deposit, there are a variety of options available to you.

Visit the Raisin UK savings marketplace

Protected savings, no matter what Brexit brings

The Financial Services Compensation Scheme (FSCS), the UK compensation scheme which helps you to recover your money if a bank stops trading, protects every savings product that we’ve mentioned in this article. So regardless of how Brexit plays out, the FSCS will protect deposits of up to £85,000 per person, per banking group for savings accounts offered by these partner banks.

Save time and make money

When you register for a Raisin UK Account, you only have to fill in one application form. After you’ve registered with us and we’ve opened your Raisin UK Account, you can apply for savings accounts from a range of partner banks, without having to fill in another application form. Simply log in, click “Open account”, enter how much you want to deposit and transfer that amount to your Raisin UK Account. We’ll take care of the rest.