A fixed rate bond is a bond with a fixed coupon rate. Fluctuations in rates will not affect a fixed rate bond and therefore carry less risk. If interest rates change drastically (whether for good or bad), your interest rate will remain the same at it's fixed rate.
If inflation is lower than your fixed interest rate, and you want to carry low risk, then a fixed rate bond is for you. You should always compare the best fixed rate bonds.
Fixed term savings accounts are for longer term deposits. They are usually for customers who don't need access to their money any time soon. Sometimes you can be able to withdraw your funds early, but there might be a penalty for doing so as you had agreed of a fixed term, and in order to get the best rate you usually sign up for a longer term.
Fixed rate bonds are for individuals who like the idea of saving with a fixed and known rate of return. They pay a fixed rate of interest during the term and let you have access subject to a loss of interest charge.
There are many positives of having a fixed rate bond. If you are working on having a more conservative retirement plan or conservative savings plan, then fixed-rate bonds may be the correct financial instrument for you as there is much less risk since you know exactly what the interest rate is and you also know what the exact length of term is.
Maybe you have something that you need to pay for soon and need to have guaranteed funds in a certain amount of time (such as retirement within a couple of years).
If interest rates are low and are determined to be low for quite some time, then a fixed rate bond might be a good idea also.
Do you invest in any fixed rate bonds?
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