Opening a fixed rate bond savings account
In this guide, you’ll find all that you need to know about opening savings accounts from our partner banks through our marketplace. View all savings accounts.
To apply for any savings account through our marketplace, you need to register for a Raisin UK Account. You can start applying for savings accounts from our partner banks as soon as you submit your registration, but we recommend waiting until you receive an email containing your Raisin UK Account sort code and unique account number, as this is your confirmation that your Raisin UK Account has been fully opened. You can only fund savings accounts and complete your application once your Raisin UK Account has been fully approved.
You can apply for fixed rate bond savings accounts by following these easy steps
1. Register for a Raisin UK Account and log in
Log in to your Raisin UK Account by visiting raisin.co.uk or raisin.co.uk/login and enter your email address or user ID (this is your unique eight-digit Raisin UK Account number) and your password, then click ‘Log in’.
2. Navigate to ‘Savings accounts’
Hover over ‘Savings accounts’ in the navigation menu of your Raisin UK Account and then click the ‘Fixed rate bonds’ link.
3. Find the fixed rate bond you want to open
Find the savings account you want to apply for under the ‘Fixed rate bonds’ tab.
4. Confirm you’re happy with the details and rate then click ‘Open account’
Click the ‘Details’ tab of any savings account on our marketplace to view information about the bank, the interest rate, how interest is paid, and more.
Once you’re satisfied with the details, you can click ‘Open account’ to start your application.
5. Enter the amount you want to open your account with
Enter the full ‘Pledged deposit amount‘ that you want to open this account with.
Please be aware that you cannot change your deposit amount, so be sure to enter the right amount.
Note: If you enter an incorrect deposit amount but have yet to transfer your deposit to your Raisin UK Account, you can withdraw your application and re-apply if the savings account is still available. You can do this through your Raisin UK Account by clicking ‘My savings’ in the navigation menu, then click ‘Details’ on the application you want to withdraw, and then click ‘Withdraw application’. Confirm that this is the application that you want to withdraw by clicking ‘Withdraw application’ and you will see a message confirming that your application has been cancelled. Follow Step 2 onwards to re-apply if the savings account is still available.
6. Agree to the terms and conditions
Confirm that you have read the terms and conditions and click ‘Continue’ to proceed with your application.
7. Verify your application
Enter the verification number that we send to your mobile phone by text message.
8. Confirm you want to apply
Confirm that you want to apply for this savings account by clicking ‘Continue’.
9. Transfer your deposit to your Raisin UK Account
Transfer your full deposit amount in as many transactions as you want from an individual bank or building society account held in your name using Faster Payments to your Raisin UK Account.
It typically takes less than 24 hours for the money you transfer to your Raisin UK Account to show as available.
Note: If you transfer money to your Raisin UK Account for the first time from a joint account, it may be rejected and automatically returned to your joint account. We may ask for additional identification information to ensure that this doesn’t happen again.
Please only transfer money to your Raisin UK Account using Faster Payments. If you transfer money to your Raisin UK Account using CHAPS or BACS, your transfer will be rejected which may delay the opening of any savings accounts you’ve applied for.
You can make as many transfers as you want until your full deposit amount is available in your Raisin UK Account. We won’t send your application to the partner bank until the full deposit amount has cleared your Raisin UK Account.
Step 10: We’ll review your application
When your full deposit amount that you want to deposit is available in your Raisin UK Account, your application will be reviewed. We’ll contact you once the partner bank has reviewed your application.
It typically takes less than two business days to open a savings account through our marketplace once your full deposit amount is available in your Raisin UK Account.
Note: The deposit amount(s) you transfer from your linked account, should match the ‘Amount to be transferred’ displayed at the top of your Raisin UK Account.
Some things to keep in mind
You might find the following information about applying for a fixed rate bond at raisin.co.uk useful:
Additional information
You may need to provide additional identification, such as a scan of your passport when applying for some savings accounts. We will let you know if this is the case.
Funding window
You have a funding window (typically 60 days) within which to fund fixed rate bond through our marketplace. You don’t have to transfer your full deposit amount to your Raisin UK Account in one go, but if you don’t transfer the full amount you asked to deposit within the funding window, your application will be cancelled and any funds you’ve transferred will remain in your Raisin UK Account.
Amending your application
You can’t change the deposit amount you entered when applying for a savings account once you’ve applied, but you can withdraw your application and start a new one with a different deposit amount. Please be aware that once you’ve transferred the full deposit amount, your application will be sent to the partner bank. Once a fixed rate bond savings account has been sent to a partner bank for review, you cannot cancel your application or close your savings account unless there are exceptional circumstances, as explained in our terms and conditions.
Want to know more?
Have you found the information that you’re looking for? Please read our FAQs, where you will find further information, or read more of our guides.
Sign up for the latest offers and news
Receive specially curated news and articles, and be the first to hear about exclusive rates and exciting offers when you sign up with us.