Compare an Easy Access Savings Account With a Fixed-Rate Bond

A higher rate is tempting until you remember life happens and locked-away money cannot bail you out. This lays out what you actually give up by locking a fixed-rate bond against keeping easy access, and gives you one plain rule for choosing based on how sure you really are.

Compare an easy access savings account against a one-year fixed-rate bond for someone saving {SAVINGS_AMOUNT} they will not need for at least a year. Explain the trade-off between the flexibility of easy access and the typically higher rate locked in by the fixed bond, what happens if they need the money early from each, and finish with a one-line rule for choosing based on how certain they are that they will not need the money.