How do savings bonds work?

A guide to understanding bonds by Furness Building Society

When it comes to choosing the right savings account for you, the key considerations should be savings interest rates, accessibility and ease of use.

For example, if you’re able to lock your money away for a period of time, savings bonds can be a very smart way to save. In this article we breakdown everything you might need to know to help you understand how savings bonds work and if this is the right savings option for you

Grandparents with a baby

What is a savings bond?

Savings bonds are a type of fixed rate savings account that involve setting your money aside for a fixed period of time - you’ll deposit your money with us and we’ll pay interest on your cash.

What is the difference between a savings account and a savings bond?

How do bonds make money?

How long should I fix my savings bonds for?

Can I access a bond?

Will I pay tax on my savings bond?

Are savings bonds a good investment?

Can I lose money with a savings bond?

Got any questions?

We hope this guide has given you the tools you need to better understand savings bonds and work out if these could work for you and your finances.

If you have any questions about choosing the right savings option for you, our dedicated team of experts are here to help. Why not give us a call on 0800 781 4311, visit us in branch or send us a message.