Compare Latest Fixed Rate ISA Deals
Fixed Rate Cash ISAs
Why we like it: Terms and Conditions: You must be 16 or over and a UK resident. You must not have subscribed to another cash ISA in the same tax year. Sole accounts only. Rate available until 2nd May 2024 for new customers and 7th May 2024 for existing customers. Offer may be withdrawn early due to limited availability. Interest is calculated daily and paid annually to our ISA on the first business day in April and on the Maturity Payment Date. You can withdraw money from your account prior to the Start Date of the account. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch or via telephone. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other Cash ISA other than a NatWest Help to Buy: ISA. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account of 90 day’s interest. The Early Closure Charge will be decided from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Why we like it: Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 90 days lost interest
Why we like it: Interest paid at maturity. ISA transfers also allowed in. Tax free interest. FSCS Protected. Must be UK resident and be aged 16 or older. No withdrawals permitted. Closure permitted with 60 days' loss of interest
Why we like it: Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 180 days lost interest
Why we like it: ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdraw cash early if you need to (subject to loss of interest)
Why we like it: Terms and Conditions: You must be 16 or over and a UK resident. You must not have subscribed to another cash ISA in the same tax year. Sole accounts only. Rate available until 2nd May 2024 for new customers and 7th May 2024 for existing customers. Offer may be withdrawn early due to limited availability. Interest is calculated daily and paid annually to our ISA on the first business day in April and on the Maturity Payment Date. You can withdraw money from your account prior to the Start Date of the account. If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice in branch or via telephone. ISA subscription limits apply. If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other Cash ISA other than a NatWest Help to Buy: ISA. Early Closure Charge applies. The Early Closure Charge will be the lower of the amount of interest earned on your account of 90 day’s interest. The Early Closure Charge will be decided from the balance of your Fixed Rate ISA. The interest payable on the money held in your account is tax-free. The tax treatment may be subject to change in the future and depends on your individual circumstances.
Why we like it: Interest paid annually. ISA transfers also allowed in. Open online, in branch or by post. FSCS Protected. Must be UK resident and be aged 18 or older. Withdrawals permitted subject to 240 days lost interest
Why we like it: ISA transfers in allowed. FSCS Protected. Must be UK resident and aged 16 or older. Withdraw cash early if you need to (subject to loss of interest)
What is a fixed rate cash ISA?
Fixed rate ISAs allow you to earn a guaranteed rate of interest on your savings without paying tax on that interest. They are normally offered over 1-3 years, with the level of interest staying the same for the entire period of the ISA. For the 2022-23 tax year, over-18s can place up to £20,000 in an ISA.
With a fixed rate ISA, the trade-off you make for the guaranteed rate of return is that you agree not to access your savings during the life of the product. Legally, ISA providers do have to allow you access to your money if you need it, but they can (and normally do) charge heavy penalty fees for this.
Benefits of fixed rate cash ISAs
Fixed rate ISAs allow you to earn a guaranteed return, making them a good choice for those who do not want to take risks. You can normally roll the ISA over when it ends, moving your savings straight into a new fixed rate ISA if you do not need to use them when the original product term ends.
Alternatives to fixed rate cash ISAs
One of the main alternatives to a fixed rate ISA is an Easy Access ISA. These allow you to pay in and take out money whenever you like and offer a variable rate of interest in return. This gives you much more flexibility with your savings, but there is no guarantee how much you will earn in interest and it is often less than you would earn with a fixed rate ISA.
Another popular alternative is tracker rate ISAs. These give you a rate of interest which is tied to a base rate (often the Bank of England base rate) plus a set extra percentage. If the base rate moves up, your interest rate will move up in line with it.
A tracker ISA means that if interest rates increase, so will the rate you earn on your savings. By comparison, a fixed rate ISA will pay exactly the same interest rate even if general interest rates go up.
However, the starting rate on a tracker ISA will tend to be lower than for a fixed rate ISA, so which is the better option will normally depend on how likely you think it is that interest rates will rise over the lifetime of the ISA.
Fixed rate cash ISA interest rates
The interest rates on fixed rate ISAs can differ considerably between providers, so it is essential to look at as many different products and providers as possible before making a decision.
Compare fixed rate cash ISAs
Our fixed rate ISA comparison tool at the top of the page allows you to quickly and straightforwardly compare the best deals on fixed rate ISAs from across the whole market. This means you can be confident you are getting the best possible deal on your tax-free savings.
We keep this page regularly updated with the best fixed rate ISA deals we have selected from all the leading providers, so make sure to check back whenever you need to compare the best fixed-rate ISAs currently available.
