RCI Bank 5-Year Fixed Term Savings Account Review

Requirements£1000 minimum deposit
Interest rate0.95%
Benefit:Decent long-term fixed interest rate

This is long-term (5 years) fixed rate savings.

I opened this account because I wanted to tuck a bit a cash away for the long term at a decent interest rate (1.9% at the time) to hedge against interest rate and stock market crashes. I only put £2000 in just in case interest rates were to rise. Consequently, interest rates fell and I am still getting a decent rate on my £2000.

I’m not able to touch my money for 5 years but that is fine with me. I wanted something that I could just leave and forget about, with the chance of a modest payout at the end.

Unfortunately, the interest rate on RCI’s 5 year fixed savings has now fell to 1.05% so I won’t be using this product again anytime soon.

Setup was fairly easy, the online access is okay and I haven’t experienced customer service so cannot comment on it.


A decent rate at the time to lock away my money for a long time. It is really just a safeguard so I have a little cash in the future if things go tits up. With the reduction of RCI’s interest rate for their products, it’s not something I will be using again at the moment.

Good pointsNot-so-good points
Long-term fixed rateCurrent interest rates are quite poor