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What is the Best Fixed Rate ISA?

Find out more about Best ISA Deals

3 Year Fixed Rate Cash ISA

from Aldermore

Interest Rate (AER) 1.10%
  • Term: 3 Years
  • £1,000 minimum opening balance

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) 1.05%
  • Term: 2 Year

1 Year Fixed Rate Cash ISA

from Aldermore

Interest Rate (AER) 0.85%
  • Term: 1 Year

2 Year Fixed Rate Cash ISA

from Cynergy Bank

Interest Rate (AER) 0.80%
  • 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 NatWest

Interest Rate (AER) 0.10%
  • Term: 1 Year
  • Instant access – manage your account by phone, in-branch and online
  • Open from £1000
  • Transfers allowed in – bring all your cash ISAs together in one place
  • Must be 16 or over
  • Must be a UK resident

2 Year Fixed Rate Cash ISA

from NatWest

Interest Rate (AER) 0.10%
  • Term: 2 Year
  • Instant access – manage your account by phone, in-branch and online
  • Open from £1000
  • Transfers allowed in – bring all your cash ISAs together in one place
  • Must be 16 or over
  • Must be a UK resident

1 Year Fixed Rate Cash ISA

from Royal Bank of Scotland

Interest Rate (AER) 0.10%
  • Term: 1 Year
  • Instant access – manage your account by phone, in-branch and online
  • Open from £1000
  • Transfers allowed in – bring all your cash ISAs together in one place
  • Must be 16 or over
  • Must be a UK resident

2 Year Fixed Rate Cash ISA

from Royal Bank of Scotland

Interest Rate (AER) 0.10%
  • Term: 2 Year
  • Instant access – manage your account by phone, in-branch and online
  • Open from £1000
  • Transfers allowed in – bring all your cash ISAs together in one place
  • Must be 16 or over
  • Must be a UK resident

2 Year Fixed Rate Cash ISA

from Santander

Interest Rate (AER) Up to 0.20%
  • Term: 2 Years
  • Tax free ISA account
  • Open with £500 or transfer in existing ISA funds
  • 0.20% AER/tax-free for 2 years for savings of £500 and over if you're part of 1|2|3 World or Santander Select
  • FSCS Protected
  • 0.10% for balances of £40,000 or over, 0.01% for balances under £40,000
  • Must be UK resident
  • Must be aged 16 or older

Calculate your interest with this plan

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

3 Year Fixed Rate Cash ISA

from Shawbrook Bank

Interest Rate (AER) 0.87%
  • Term: 3 Years
  • Interest can be paid monthly or annually
  • ISA transfers in allowed
  • £250,000 maximum balance
  • FSCS Protected
  • Must be UK resident and aged 18 or older
  • No withdrawals permitted

Calculate your interest with this plan

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

A Review of Best ISAs

A cash Individual Savings Account (ISA) is a tax-free savings account which allows you to save up to a set amount of money per financial year without paying any tax on it. You can only have one cash ISA per tax year, but you can also have a different type of ISA, known as a stocks and shares ISA, simultaneously.

Rates are at an all time low but there are still some good options around. Here are a selection of some of the best ISAs. See our comparison tables for more details.

Some of the highest interest paying fixed rate ISAs at the moment, include:

1) Tesco Fixed Rate ISA

In the first 30 days you can pay in up to £20,000.

Features:
  1. Your interest rate is guaranteed for one year, you can't withdraw any money during this fixed term unless you close the account and pay a fee
  2. You can manage your money with online and telephone banking
  3. You can transfer your existing ISA as long as it’s within 30 days
Why we like it:

This ISA is a great option if you’re able to tie up your money for a year due to its high interest rate and ability to manage your account online. Tesco customers get the added bonus of clubcard point perks

2) Bank of Cyprus Fixed Rate ISA

The Bank of Cyprus UK Cash ISA offers a unique combination which functions as a fixed and variable way to save. It combines the security of a fixed rate Cash ISA with the flexibility to make further deposits at the variable rate.

Features:

  1. Competitive tax-free interest rates, including loyalty rates for existing customers
  2. Your interest rate options are flexible. You can start with a variable rate and switch your funds to a fixed rate at any time. You can only fix the rate once in each tax year, subject to a minimum of £500
  3. Top-up your Cash ISA during the tax year at their competitive rate
  4. Fee-free withdrawals from the fixed rate are permitted at the end of the fixed term
Why we like it:

While Bank of Cyprus doesn’t have a lot of branches, they do provide excellent customer service and a high interest rate. The added bonus of being able to make deposits throughout the year and switch between fixed and variable rates, makes this account unique.

3) Post Office Fixed Rate ISA

Features:

  1. A competitive fixed interest rate
  2. You must have a minimum of £500 to invest
  3. No access to your savings until the end of the agreed fixed term
  4. One year fixed term

Interest is calculated daily and paid annually on the anniversary of the account opening.

Why we like it:

The Post Office offer a simple and uncomplicated service. They also have one of the greatest amount of branches of any bank, which is useful for people in rural areas. Their interest rate is competitive and their minimum deposit rate is a lot lower than other fixed ISAs.

4) Aldermore Fixed Rate ISA

Aldermore offer a flexible fixed rate cash ISA. You can choose how long to tie your money up as they offer 1,2 and 3 year contracts.

Features:

  1. All interest tax free for the duration of your term.Flexibility to split your ISA allowance between any of their Cash ISA products, as long as you don’t exceed your annual ISA allowance
  2. The ability to withdraw money from a Fixed Rate Cash ISA from this tax year or previous tax years. You can replace the money you’ve withdrawn without the replacement counting towards your annual ISA subscription limit, providing you replace the money in the same tax year that you withdraw it
Why we like it:

Aldermore offer a very flexible way to save. Not only are you free from the usual ties which stop you from withdrawing money but they have a range of terms to choose from. They offer a competitive rate of interest and an easy to use service.

Check our comparison tables for latest rates and offers.

Lifetime ISAs

Save for your first home and retirement

Compare Lifetime ISAs

Junior ISAs

Invest for your child’s future

Compare Junior ISAs: 

Stocks & Shares ISAs

Invest tax-free in stocks and shares 

Compare Stocks and Shares ISAs:

Latest News

5 Considerations for Your Next Investment ISA

15th March 2021

You've decided to invest your savings into a Stocks and Shares ISA. You'll be using your tax-free ISA allowance for this year before the deadline, while also investing your money for your future. But what do you need to consider before opening an account? We've put together a list of our top five considerations for you to think about before you click "apply". 

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