Fixed Rate Savings Information

Save for 1, 2 or 3 years

The longer the term, the longer your interest is guaranteed at the fixed rate.

Your interest is guaranteed

You know exactly how much interest you’ll get each year, whatever happens to interest rates.

Save within a Cash ISA

If you open Fixed Rate Savings as part of an M&S Cash ISA, your interest is guaranteed – and tax free.

Save a little – or a lot

You can save from £500 up to £1 million with our Fixed Rate Savings. The interest rate is the same for any amount – and fixed for the full term.

Early closure option

If you need to access your money, you can close your Fixed Rate Savings before the end of the fixed term. There’s a single charge to do this – just £50 for a 1 year account, £75 for 2 years and £100 for 3 years. You cannot make partial withdrawals.

Open more than one account

You can open as many Fixed Rate Savings accounts as you want. And you can mix and match how much and how long you save.

Interest paid annually

Add the annual interest to your savings – or transfer it elsewhere.

Easy to open

You can open our Fixed Rate Savings online, by post or over the phone.

Peace of mind

The first £50,000 of the savings you hold with us is protected by the UK Financial Services Compensation Scheme - and because M&S Money is authorised by the Financial Services Authority in its own right, the savings you hold with M&S won't be affected by any money that you have elsewhere, including HSBC.

* AER is the Annual Equivalent Rate and illustrates what the rate of interest would be if interest was paid and compounded on an annual basis. Gross means the rate of interest before the deduction of tax applicable to interest on savings. Net means the rate of interest after the deduction of the lower rate of tax. Interest rate correct as at 05/11/2009.

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