Fixed rate savings rush as savers look to lock in deals, new research shows

Fixed rate savers are acting now to beat potential future Bank of England base rate cuts, new research from Investec Save shows.

The study found that 44% of savers with fixed-rate accounts have already increased their savings into additional fixed accounts in anticipation of further base rate cuts this year and into 2026. Around a fifth (19%) say they have increased the amount of money deposited into fixed rate accounts by 30% or more.

Investec’s study found more than half (55%) of adults currently have fixed rate accounts. Around one in five (22%) of them say they plan to increase the amount of money they deposit in fixed rate accounts in the next three months compared with the last three months.

The Bank of England base rate has been cut three times this year to 4% and further cuts are expected into 2026. Investec’s Economists believe that the Bank of England base rate could fall to 3.25% by the end of 2026.

It found that nearly two-thirds (62%) of those savers had deposited money into fixed-rate accounts in the past three months, with 31% estimating deposits of £3,000 or more during that time. Over a quarter (27%) of fixed rate savers say 50% or more of their total savings have gone into fixed rate accounts in the past three months.

David Hunt, Head of Deposits, Investec, said: ““The trend of base rate cuts is now firmly established, and this is reflected in the rush by savers to lock in higher rates, with more money being committed to one-, two- and three-year accounts.

“More than half of savers hold fixed-rate accounts, and many are increasing their deposits to secure higher rates for longer. People need to be sure however that they will not need access to the money before the end of the term and plan ahead accordingly.”

Investec Save’s range of accounts, which do not have any penalty fees or hidden bonus rates, include its Fixed Rate Saver with 1-Year, 2-Year or 3-Year terms available. They currently offer 4.25% AER**/gross, 4.20% AER/gross and 4.20% AER/gross, respectively. The Fixed Rate Saver provides simplicity and security for savers. Interest is paid on maturity of the 1-Year term and annually on the 2-Year and 3-Year terms. No withdrawals are permitted until the end of the term in each case, and no further deposits can be made after the first seven days.

Its 90-Day Notice Saver, which currently offers 4.17% AER, can be opened with a balance of at least £5,000 and you can make unlimited deposits up to a total balance of £250,000. It can be opened online in minutes and is fully managed online with no hidden fees or charges.

The Online Flexi Saver, which currently offers 4.00% AER (3.93% gross), is a simple and secure instant access savings account, providing instant access to savings. Unlimited deposits and withdrawals are allowed. This makes the Online Flexi Saver perfect for unexpected bills that might arise, such as car maintenance or a vet’s bill.

*  Investec Bank commissioned Viewsbank to survey a nationally representative sample of 1,010 UK adults aged 18-plus between September 12^th and 15^th 2025