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Michael Brown

Acting Editor
Published: 08/11/2022
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The offer comes after the Bank of England expects inflation to drop in the middle of 2023.

Atom Bank launched a market-leading nine month fixed rate bond today, paying a rate of 3.95% AER.

“We understand that not everyone wants to lock their cash away for years, so we’ve launched the nine month product to help those who may have more short-term goals,” said Mark Mullen, Chief Executive Officer at Atom Bank.

The launch comes five days after the Bank of England (BoE) made the biggest increase to its base rate in 33 years.

In the aftermath of its hike, the BoE said it expected “inflation to fall sharply from the middle of next year”. In the interim, further base rate rises could be made to try to keep inflation from rising further.

If you take out Atom Bank’s 9 Month Fixed Saver today it should mature at the beginning of August.

How does this account compare?

Atom Bank’s 9 Month Fixed Saver leads the nine month fixed rate chart by 0.20 percentage points. The next best offer comes from ICICI Bank UK, whose account is operated through Raisin UK.

To compare other offers, including all savings accounts fixed up to one year , visit our chart.

Alternatively, the top easy access account pays an expected profit rate of 2.81% AER. While lower than Atom Bank’s offer, it does give you flexibility if you need instant access to your cash and has the potential to increase or decrease in the future.

It is worth noting that on Friday Virgin Money improved the rate on its easy access ISA to 3.00% AER.

How does this account work?

To open your 9 Month Fixed Saver you will need to make an initial deposit of £50, with the limit set at £100,000.

This application will need to be made via Atom Bank’s mobile app, which can be downloaded via the Google Play or App store.

This is crucial because you will also manage your funds via this means too.

Further additions are allowed for one week from account opening while withdrawals are not permitted.

Interest is compounded or paid away monthly or on maturity.


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