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A fixed-rate bond is a debt instrument with a level interest rate over its entire term, with regular interest payments known as coupons. Upon maturity of the bond, holders will receive back the initial principal amount in addition to the interest paid.
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A fixed rate bond is a type of savings account that offers a fixed rate of interest for a set period of time.
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Fixed rate bond

Fixed rate savings bonds are savings accounts that often pay a higher interest rate than instant access savings accounts. Find out more in our guide.