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Compare Latest Fixed Rate ISA Deals

Bank of Cyprus UK
Fixed Rate Cash ISA Bank of Cyprus UK
Min deposit £500
Term 3 years
Interest AER 1.42%

Why we like it: 3 YEAR FIXED RATE CASH ISA DEAL OF THE MONTH: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Ford Money
Fixed Rate Cash ISA Ford Money
Min deposit £500
Term 2 years
Interest AER 1.33%

Why we like it: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Bank of Cyprus UK
Fixed Rate Cash ISA Bank of Cyprus UK
Min deposit £500
Term 2 Years
Interest AER 1.32%

Why we like it: 2 YEAR FIXED RATE CASH ISA DEAL OF THE MONTH: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Aldermore
Fixed Rate Cash ISA Aldermore
Min deposit £1000
Term 3 years
Interest AER 1.25%

Why we like it: Withdraw cash early if you need to (subject to loss of interest).

Bank of Cyprus UK
Fixed Rate Cash ISA Bank of Cyprus UK
Min deposit £500
Term 1 Year
Interest AER 1.22%

Why we like it: 1 YEAR FIXED RATE CASH ISA DEAL OF THE MONTH: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Ford Money
Fixed Rate Cash ISA Ford Money
Min deposit £500
Term 1 Years
Interest AER 1.20%

Why we like it: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Aldermore
Fixed Rate Cash ISA Aldermore
Min deposit £1000
Term 2 Years
Interest AER 1.20%

Why we like it: Withdraw cash early if you need to (subject to loss of interest).

Aldermore
Fixed Rate Cash ISA Aldermore
Min deposit £1000
Term 1 Year
Interest AER 1.00%

Why we like it: Withdraw cash early if you need to (subject to loss of interest).

Ford Money
Fixed Rate Cash ISA Ford Money
Min deposit £500
Term 2 years
Interest AER 1.33%

Why we like it: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

Ford Money
Fixed Rate Cash ISA Ford Money
Min deposit £500
Term 1 Years
Interest AER 1.20%

Why we like it: Minimum deposit £500. Transfer in ISAs held elsewhere - no limit. Eligible deposits covered by UK FSCS.

What is a fixed rate 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 2017/18 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 yours 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 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 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 ISA interest rates

The interest rates on fixed rate ISAs can differ considerably between providers, so it is essentially to look at as many different products and providers as possible before making a decision.

Compare fixed rate 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.

Latest news

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