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Fixed Rate Cash ISAs

Latest Fixed-Rate Cash ISA deals
The 2016/17 ISA allowance is £15,240. Use your ISA allowance wisely by comparing our selection of market-leading fixed-rate cash ISAs to maximise your tax-free returns.
Fixed Rate Cash ISAs

3 Year Fixed Rate Cash ISA

from Aldermore

Interest Rate (AER) 1.20%
  • Term: 3 Years

'Winner' – ISA Provider of the Year for the 5th year running Consumer Moneyfacts Awards 2011-15

  • 1.85% gross/AER fixed for 3 years.
  • £1,000 minimum opening balance

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

3 Year Fixed Rate Cash ISA

from Bank of Cyprus

Interest Rate (AER) 1.20%
  • Term: 3 Years
  • Minimum deposit £500
  • Available to individual applicants aged 16 or over
  • Access to funds before the end of the term is subject to a fee equivalent to six months’ interest

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

2 Year Fixed Rate Cash ISA

from Aldermore

Interest Rate (AER) 1.15%
  • Term: 2 Year

'Winner' – ISA Provider of the Year for the 5th year running Consumer Moneyfacts Awards 2011-15

2 Year Fixed Rate Cash ISA

from Bank of Cyprus

Interest Rate (AER) 1.15%
  • Term: 2 Years
  • Minimum deposit £500
  • Available to individual applicants aged 16 or over
  • Access to funds before the end of the term is subject to a fee equivalent to six months’ interest

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

1 Year Fixed Rate Cash ISA

from Aldermore

Interest Rate (AER) 1.10%
  • Term: 1 Year

'Winner' – ISA Provider of the Year for the 5th year running Consumer Moneyfacts Awards 2011-15

1 Year Fixed Rate Cash ISA

from Bank of Cyprus

Interest Rate (AER) 1.10%
  • Term: 1 Year
  • Minimum deposit £500
  • Available to individual applicants aged 16 or over
  • Access to funds before the end of the term is subject to a fee equivalent to six months’ interest

Calculate your interest with this plan

Your savings:
£
You could gain:
£0.00 (per tax year)

Fixed-Rate Cash ISAs

Instant access cash ISAs offer savers the benefit of quick and easy access to their money whenever they need it; however, they're not the only cash ISA option available. 

Fixed-rate cash ISAs allow you to lock your tax-efficient cash ISA allowance away for a predetermined period at a fixed rate of interest. 

Fixed-rate cash ISAs vary in timescale from six months to five years, and generally, the longer you are willing to lock your cash away, the higher the rate will be.

However, it's important to remember that fixed-rate accounts don't necessarily beat the highest rates on offer from more accessible cash ISAs. It's essential to research providers thoroughly before you commit, rather than assuming that a fixed-term ISA will automatically guarantee a superior rate.

Unlike instant access ISAs, fixed-rate ISAs mean that you run the risk of being unable to switch to a provider with preferable interest, at least until you've sat out the fixed term. So, you could find that the attractive fixed rate you started out with begins to look increasingly uncompetitive in comparison with subsequent instant access cash ISA rates.

The fixed term offered by this type of ISA does have the potential to some real advantages, however. As well as the possibility of a good rate of return over the long term, fixed-rate cash ISAs can be a useful way to save for a specific future event. Knowing that you'll be penalised for early withdrawal from a fixed-rate ISA might make you think twice before using the cash for something else.

As with all types of ISA, there are various factors to consider, and the product that's best for you is likely to depend on your individual circumstances.

Things to look out for when choosing a fixed-rate cash ISA

There are a wide variety of fixed-rate ISA account deals to choose from, so we have highlighted some of the features to look out for:

  • Minimum ISA deposits - some fixed-rate cash ISA accounts require a minimum level of funding to get started. This can vary widely - from as little as £50 to upwards of £1,000 - so it's important to consider how much money you can realistically afford to tie up for the minimum term required. Once you've placed your minimum deposit, you can then add funds up to the ISA limit, which is £15,240 for 2015/16.
  • Additional bonus rates - many fixed-rate cash ISA accounts offer a bonus for new customers, paid at the end of a set period. There are often conditions attached to this offer, and savers should bear in mind that once this special bonus is paid, the ongoing interest rate may not be competitive. Be prepared to switch to a different ISA provider once this period ends.
  • Interest calculation method - some ISA providers pay interest monthly, while others do so quarterly or annually. Check this with your provider before opening a fixed-rate cash ISA.
  • Early closure penalties - if you close your fixed-rate cash ISA before the term is over, or withdraw money from it, you will face some form of penalty charge. This may be a loss of interest - for example, on a five-year fixed term cash ISA you could lose up to a year's tax-free interest if you close your account early.

Not sure where to start?

ISA.co.uk provides information on a range of fixed-rate cash ISAs. If this option isn't right for you at the moment, take a look at the range of alternatives to fixed-rate cash ISAS, such structured deposit plans, which are suitable for people who are looking to tie up cash for a longer period of three to six years.

As with all types of ISA, there are various factors to consider, and the product that's best for you is likely to depend on your individual circumstances.

Cash ISAs

ISAs are a tax-advantageous way to save or invest, check out some of the ISA options below

ISAs Products

Fund ISAs

There are a range of types of fund ISA

Fund ISAs: 

Stocks & Shares ISAs

Types of Stocks and Shares ISA include: 

Stocks and Shares ISAs

Latest News

How to choose the best ISA?

16th November 2016

You can invest your full ISA allowance of £15,240 into one ISA or split your allowance between the three types of ISA available. Cash, Stocks and Shares and Innovative Finance. However, this leaves the question of how to choose what works best for you?

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