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Saga 1 Year Fixed Rate Saver

Lock your savings away for a set period and know exactly how much you’ll earn in interest by the end of the term. Saga Savings accounts, provided by Goldman Sachs International Bank, are available to UK residents aged 50 and over.

Saga 1 Year Fixed Rate Saver

The benefits

  • 0.50% AER/Gross* (fixed)
  • Guaranteed interest rate for 12 months
  • Start saving from £1

On opening your account, you've got 14 days to pay in all the money you want to save there. You can make as many deposits as you like, up to a maximum balance of £100,000. When the 14 days are up, the account locks down so you can't pay any more in. The interest is calculated daily and paid when the 12-month term comes to an end.

The main requirement of this account is that you can't make any withdrawals for 12 months. You can get hold of your money before the end of the year-long term, but you'll have to close the account and pay an early closure fee.

What is the interest rate?

Annual interest % Gross (fixed)


Annual interest % AER (fixed)


What would the estimated balance be after 12 months based on a £1,000 deposit?


1 Year Fixed Rate Saver

Fixed term

1 Year

Projected balance at the end of
the 1 year fixed term (fixed
interest rate of 0.50%


This projection assumes that you make one payment of £1,000 into this account on the day you open it, that you do not make any withdrawals or further deposits and that interest is paid into this account at the end of the term. This is for illustrative purposes only and doesn't take into account your individual circumstances.

Frequently asked questions

Need help? We've created a list of commonly asked questions about Saga Savings and provided helpful answers here.

If you need any help with your online application, please call the customer care team.

Financial Services Compensation Scheme

Your eligible deposits with Goldman Sachs International Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

This limit is applied to the total of any deposits you have with Goldman Sachs International Bank (GSIB) under any brand, including Saga Savings (where the Saga Savings account is provided by GSIB), and Marcus by Goldman Sachs. Any total deposits you hold above the limit between these brands are unlikely to be covered.

You can find out more about how the scheme protects your money by visiting the FSCS page.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once a year. Gross is the interest rate before tax is
deducted. Where we pay interest annually, your AER and gross rate will be the same.

The Saga Easy Access Savings Account and the Saga 1 Year Fixed Rate Saver are provided by Goldman Sachs International Bank. Goldman Sachs International Bank is registered in England and Wales (no. 1122503), authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Financial Services Register number for Goldman Sachs International Bank is 124659 and the registered office is at Plumtree Court, 25 Shoe Lane, London, EC4A 4AU.

Saga Personal Finance is a registered trading name of Saga Personal Finance Limited. Company Registration No. 3023493.