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1 Year Fixed Rate Cash ISAs

Updated: 21st May 2020

Cash ISAs provide the advantage of tax free savings. If you’re able to put your money away for 12 months, a 1 year fixed rate cash ISA could offer you better interest rate than its easy access relatives. Note that while you can withdraw from a fixed rate cash ISA, the heavy penalties make it a good idea to avoid that unless absolutely necessary.


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Here are MyWalletHero’s picks for the fixed rate bonds:

Great for: Competitive fixed rate ISA interest
5 stars question mark

Post Office Money offers 1.10% interest on it’s 1 year fixed rate cash ISA, which pays interest annually. If you are looking to transfer money in from an existing ISA, this account could be a good option as it has no upper limit to the amount of money you can transfer across. As with all ISAs however, you can only pay in up to the statutory limit of £20,000 each tax year.

HIGHLIGHTS

  • Minimum deposit £500
  • Maximum account balance - no upper limit for ISA transfers
  • Competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, make sure to request this during application, as later requests may be denied
  • Interest paid annually in March
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty
  • Interest Rate (AER):

    1.10%
  • Account Type:

    1 Year Fixed Rate ISA
  • Protection Scheme:

    FSCS
  • Account Minimum:

    £500

what we like

  • Competitive fixed interest rate
  • No upper limit for ISA transfers
  • Tax-free savings up to the current limit of £20,000 each tax year

HIGHLIGHTS

  • Minimum deposit £500
  • Maximum account balance - no upper limit for ISA transfers
  • Competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, make sure to request this during application, as later requests may be denied
  • Interest paid annually in March
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty

DISCLAIMER

Great for: Competitive fixed rate ISA interest
4 stars question mark

Shawbrook Bank offers 1.05% interest on it’s 1 year fixed rate cash ISA. You can also choose between annual or monthly interest payments with this account. One thing to note: if you want to transfer money in from an existing ISA, make sure to request this during application, as later requests may be denied.

HIGHLIGHTS

  • Minimum deposit £1,000
  • Maximum account balance £250,000
  • Highly competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, make sure to request this during application, as later requests may be denied
  • Choice of monthly or annual interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty
  • Interest Rate (AER):

    1.05%
  • Account Type:

    1 Year Fixed Rate ISA
  • Protection Scheme:

    FSCS
  • Account Minimum:

    £1,000

what we like

  • Competitive fixed interest rate
  • Choice of monthly or annual interest payments
  • Tax-free savings up to the current limit of £20,000 each tax year

HIGHLIGHTS

  • Minimum deposit £1,000
  • Maximum account balance £250,000
  • Highly competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, make sure to request this during application, as later requests may be denied
  • Choice of monthly or annual interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty

DISCLAIMER

Great for: Competitive fixed rate ISA interest
4 stars question mark

Virgin Money offers 1.05% interest on it’s 1 year fixed rate cash E-ISA and offers annual or monthly interest payments. You can pay in up to £20,000 in the current tax year, and there is no limit on ISA transfers. As a Virgin member this account will also grant you access to Virgin Money Lounges, and Virgin Group discounts.

HIGHLIGHTS

  • Minimum deposit £1
  • Maximum account balance - no upper limit for ISA transfers
  • Competitive fixed interest rate
  • Choice of annual or monthly interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty
  • Interest Rate (AER):

    1.05%
  • Account Type:

    1 Year Fixed Rate ISA
  • Protection Scheme:

    FSCS
  • Account Minimum:

    £1

what we like

  • Competitive fixed interest rate
  • No upper limit for ISA transfers
  • Tax-free savings up to the current limit of £20,000 each tax year

HIGHLIGHTS

  • Minimum deposit £1
  • Maximum account balance - no upper limit for ISA transfers
  • Competitive fixed interest rate
  • Choice of annual or monthly interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Withdrawals ahead of term will be subject to a loss of interest penalty

DISCLAIMER