What are ISAs
An ISA is an individual savings account that offers the chance for individuals to earn up to £20,000 tax-free interest.
Not only can those who subscribe to an ISA benefit from tax-free interest from savings, but also enjoy the freedom to invest from their ISA and avoid paying tax on their returns.
Fixed rate ISAs
Cash ISAs are very popular, as they give you the opportunity to earn interest as well as instant access to your savings. The issue with cash ISAs is that they rarely offer you competitive interest.
A fixed rate ISA is an ISA that requires you to leave your savings in the ISA for the duration of the fixed term. As a reward for not making a withdrawal from the fixed rate ISA, you will earn competitive tax-free interest. If you are confident that you will not require access to your savings in the near future, then a fixed rate ISA could be an attractive option for you.
TSB fixed rate ISAs
TSB provides both business and personal banking services. They have a range of accounts available with flexible access to your money, including fixed rate ISAs.
TSB offers a range of financial services, but their main fixed rate product is a 2 year fixed rate ISA. This ISA gives you the choice between monthly and annual interest, with a minimum deposit of £2,000 and competitive interest.
If you are prepared to put your savings away for 2 years, then you might want to look into subscribing to TSB’s 2 year fixed rate ISA.
If you want to explore your fixed rate ISA options, then review our table above. Our ISA table above provides some of the best ISAs available on the market, including ISAs from other lenders.