The interest rate is fixed and paid monthly or annually provided that you;
Make a minimum deposit of £50.
Are a UK resident and aged 18 or older.
You can hold multiple accounts.
Make unlimited deposits during Deposit Window.
Maximum Balance Limit across all accounts is £100,000.
You open and operate this account by using the Atom app.
You can't make any withdrawals or transfers until maturity.
The best Fixed Rate interest for a 1 year Term.
It can only be operated via their mobile app.
A Fixed Term Deposit, or Bond as it's commonly known, usually provide some of the better rates of interest.
These rates are generally fixed over the term and improve the longer you can lock your savings away, 1 to 5 years being some of the most popular lengths.
From account opening you'll have a small time frame in which to make your deposit, and then no further deposits are allowed.
You cannot then normally withdraw money before maturity.
Any schemes that do allow withdrawals or early closure usually come with hefty penalties for doing so.