Should I Choose a Fixed or Variable-Rate Account?

Whether you’re saving for a new car, a house extension or for a rainy day, our accounts are designed not only to serve your needs, but to make an impact for the gospel across the UK. Whether you’re looking for certainty or flexibility, your savings can make a meaningful difference.

What’s the difference?

• Fixed-rate savings offer a guaranteed return for a set period – such as our 6-36 month bonds. Once you lock in your deposit, the rate is fixed for the entire term.
• Variable rate accounts, like our 120-Day Notice Account or Instant Access Gospel Saver, change over time and often offer more flexibility, especially if you might need access to your funds.

Fixed rate: peace of mind with a purpose

Fixed-rate accounts offer the reassurance of a guaranteed return over a set term, making them ideal for those planning medium to long-term savings goals and those seeking stable growth over time. However, this comes at the cost of flexibility.  Your money is locked away for the duration, and you won’t benefit if market rates rise during that time. With that said, a fixed rate can be especially helpful during times when interest rates are more likely to reduce.

Whilst your savings are growing, you will benefit from knowing that Kingdom Bank will be putting it to good use.

‘It is encouraging to know that our savings with Kingdom Bank are used to grow gospel-hearted ministries across the country.’ Xander and Melody, Kingdom Bank customers.

If you’re confident you won’t need access to your money for a few years, a fixed-rate account offers security and a Kingdom-aligned return.

Variable Rate: flexibility that builds God’s Kingdom

Variable-rate accounts offer greater flexibility, making them well suited for emergency savings or shorter-term financial goals. They typically allow easier access to your funds and the potential to benefit if interest rates rise. However, the trade-off is less predictability as rates can go down, and there’s less certainty when planning for the long term.

Our Instant Access Gospel Saver is a great option if you want to put your savings to work for the gospel whist seeking to retain immediate access.

‘For me, saving with Kingdom Bank isn’t just about financial security – it’s about living out my faith through my financial choices.’ Cathy Dalton, Kingdom Bank customer

At Kingdom Bank, your savings do more

Whether you choose fixed or variable, every pound you save with Kingdom Bank supports churches, Christian charities, and people in ministry across the UK. We estimate, of each £1m on deposit with us, Kingdom Bank can provide c.£900k mortgages to churches.

You may not be able to deposit £1m, but every little helps. Over 800 savers decided to trust Kingdom Bank with their savings in 2024 and this enabled us to lend £26.7m to churches and Christian charities.

‘If they [Kingdom Bank customers] weren’t saving with Kingdom Bank, we wouldn’t be able to do the work we’re doing or employ more gospel workers. Our ability to save on financial repayments allows us to do more for the Kingdom. If you save with Kingdom Bank – thank you.”  Pete Brown, Senior Pastor, Redeemer Church, Nottingham

Ready to put your money to work for you and the Kingdom?

Whether you’re looking for predictable returns or flexibility, your savings can help fuel gospel work across the UK.

Find out how your money can make an impact.

Kingdom Bank does not provide financial advice. Please seek independent financial advice when structuring your finances.