Banky team Reviewed editorial answerNot necessarily. Total return grows with the length of the term, so a three-year figure naturally looks several times a one-year figure, even if its yearly rate is lower. A hypothetical example per 100 pounds with simple interest: a twelve-month deposit at 15% brings 15, and a three-year certificate at 14% brings 42, about 2.8 times, even though its annual rate in the example is lower. So comparing the totals directly compares the terms, not the return. There are other dimensions too: the certificate locks your money for three years, while the deposit ends after a year and then you decide again, and if it renews automatically its rate follows its terms at renewal, which no one knows now. The honest way is to decide first how long you can leave your money, then compare products within that term at the same amount and payout schedule. Ask the bank for each product's annual rate and its type, and about the deposit's auto-renewal terms, and check them in the key-facts statement.