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5 Year Fixed Rate Cash ISAs

Updated: 7th September 2020

Cash ISAs provide the advantage of tax free savings. If you’re able to put your money away for 5 years, these fixed rate cash ISAs could offer you better interest rate than their 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
4.5 stars question mark
Shawbrook Bank logo
  • Interest Rate (AER):

    1.10%
  • Account Type:

    5 Year Fixed Rate ISA
  • Account Minimum:

    £1,000
  • Account Maximum:

    £250,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum account balance £250,000
  • 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

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

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum account balance £250,000
  • 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
4.5 stars question mark
Paragon logo
  • Interest Rate (AER):

    0.90%
  • Account Type:

    5 Year Fixed Rate ISA
  • Account Minimum:

    £500
  • Account Maximum:

    £500,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £50,000
  • 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

what we like

  • Competitive fixed interest rate
  • Set up and manage your account easily online
  • Tax-free savings up to the current limit of £20,000 each tax year

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £50,000
  • 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

Great for: Competitive fixed rate interest ISA
3.5 stars question mark
Hodge logo
  • Interest Rate (AER):

    0.70%
  • Account Type:

    5 Year Fixed Rate ISA
  • Account Minimum:

    £1,000
  • Account Maximum:

    £1,000,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum depostit £1,000,000
  • Competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, you need to submit an application via post. Otherwise you can apply and manage the account online.
  • 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

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

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum depostit £1,000,000
  • Competitive fixed interest rate
  • If you want to transfer money from an existing ISA into this account, you need to submit an application via post. Otherwise you can apply and manage the account online.
  • 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