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Compare Our Top-Rated Fixed Rate Cash ISAs

Updated: 15th June 2021

Cash ISAs provide the advantage of tax free savings. If you’re willing to sacrifice some flexibility with your money, fixed rate cash ISAs offer better rates 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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Great for: Competitive fixed rate interest
5 stars question mark
Paragon logo
  • Interest Rate (AER):

    1.05%
  • Account Type:

    3 Year Fixed Rate
  • 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 total balance £500,000
  • Your total sum must be deposited within 28 days of application via one payment
  • Can be opened as a single or joint account
  • Interest can be paid monthly or annually

what we like

  • Can be opened as a single or joint account
  • Offers monthly or annual interest payments
  • Competitive interest rate

WHAT YOU NEED TO KNOW

  • Minimum deposit £1,000
  • Maximum total balance £500,000
  • Your total sum must be deposited within 28 days of application via one payment
  • Can be opened as a single or joint account
  • Interest can be paid monthly or annually

DISCLAIMER

Great for: Highly competitive fixed rate interest in a cash ISA
4.5 stars question mark
Ford Money logo
  • Interest Rate (AER):

    0.55%
  • Account Type:

    2 Year Fixed Rate ISA
  • Account Minimum:

    £500

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £2,000,000
  • Deposits must be made within 14 days of opening, but can be done via an unlimited number of payments
  • Choice of annual or monthly interest payments
  • Tax-free savings up to the current limit of £20,000 each tax year

what we like

  • Tax free saving
  • Highly competitive interest rate
  • Unlimited deposits within the first 14 days of opening

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £2,000,000
  • Deposits must be made within 14 days of opening, but can be done via an unlimited number of payments
  • Choice of annual or monthly interest payments
  • Tax-free savings up to the current limit of £20,000 each tax year

DISCLAIMER

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

    0.60%
  • Account Type:

    2 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 £500,000
  • Fixed interest rate
  • You have 28 days from the date of application to make your initial deposit - by one payment
  • Quickly transfer your existing ISA from other providers
  • Choice of monthly or annual interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Early withdrawals are subject to a penalty

what we like

  • Competitive fixed interest rate
  • Quickly transfer your existing ISA from other providers
  • Choice of monthly or annual interest payments

WHAT YOU NEED TO KNOW

  • Minimum deposit £500
  • Maximum account balance £500,000
  • Fixed interest rate
  • You have 28 days from the date of application to make your initial deposit - by one payment
  • Quickly transfer your existing ISA from other providers
  • Choice of monthly or annual interest payments
  • Save up to the annual statutory limit of £20,000 each tax year
  • Early withdrawals are subject to a penalty

DISCLAIMER

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

    0.70%
  • Account Type:

    3 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 - with tax savings
4.5 stars question mark
Shawbrook Bank logo
  • Interest Rate (AER):

    0.70%
  • Account Type:

    2 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
  • 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

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
  • 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
4.5 stars question mark
Shawbrook Bank logo
  • Interest Rate (AER):

    0.80%
  • Account Type:

    3 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
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
Virgin money logo
  • Interest Rate (AER):

    0.75%
  • Account Type:

    3 Year Fixed Rate ISA
  • Account Minimum:

    £1
  • Account Maximum:

    £2,000,000

Account protected by the FSCS up to £85,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £2,000,000 across all Virgin Money accounts held
  • 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
  • No upper limit for ISA transfers
  • Tax-free savings up to the current limit of £20,000 each tax year

WHAT YOU NEED TO KNOW

  • Minimum deposit £1
  • Maximum account balance £2,000,000 across all Virgin Money accounts held
  • 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 ISA interest
4 stars question mark
charter savings bank logo
  • Interest Rate (AER):

    0.47%
  • Account Type:

    1 Year Fixed Rate ISA
  • Account Minimum:

    £5,000

WHAT YOU NEED TO KNOW

  • Minimum deposit £5,000
  • Maximum account balance £1,500,000
  • Deposit must be made within 30 days of opening, and must be paid in as one lump sum
  • Interest paid annually
  • Save up to the annual statutory limit of £20,000 each tax year

what we like

  • Tax free saving
  • Competitive interest rate
  • Allows ISA transfers from other providers

WHAT YOU NEED TO KNOW

  • Minimum deposit £5,000
  • Maximum account balance £1,500,000
  • Deposit must be made within 30 days of opening, and must be paid in as one lump sum
  • Interest paid annually
  • Save up to the annual statutory limit of £20,000 each tax year

DISCLAIMER



Frequently Asked Questions

What is a fixed rate ISA?

A fixed rate ISA is a type of cash ISA which provides guaranteed rates of interest. Term lengths for fixed rate ISAs vary, typically from one to five years. During the fixed term, you will not be able to access your money without incurring hefty penalty charges.

How does a fixed rate ISA work?

A fixed rate cash ISA has a guaranteed rate of interest for the length of the account’s term. The interest you earn is calculated daily and paid annually or at maturity. You can deposit up to £20,000 (your ISA allowance) into a fixed rate ISA, but you will then not be able to access your money until your ISA matures.

Can you add money to a fixed rate ISA?

You typically cannot make any additional deposits to your fixed rate cash ISA during the fixed term. Some ISAs will allow further contributions for a limited period or while the ISA remains on general sale. But usually, you are only allowed to make a single deposit when opening the account. Therefore, the maximum amount you can deposit in a fixed rate ISA would be £20,000 (the ISA allowance in the 2021-22 tax year).

Can you transfer a fixed rate ISA before maturity?

You can’t transfer a fixed rate cash ISA before maturity without incurring penalty charges. This could come in the form of loss of interest, a flat penalty charge fee or closure of the account.

How safe is a fixed rate ISA?

Fixed rate cash ISAs are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per financial institution.