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This comparison simply includes all savings accounts.

Aldermore
Fixed Rate Cash ISA Aldermore
Min deposit £1000
Term 3 years
Interest AER 0.75%

Why we like it: MARKET LEADING RATE – Looking for the best cash ISA rates? Open a 3 Year Fixed Rate Cash ISA with Aldermore Bank to get a great return. Withdraw cash early if you need to (subject to loss of interest).

Aldermore
Fixed Rate Cash ISA Aldermore
Min deposit £1000
Term 2 Years
Interest AER 0.7%

Why we like it: Open a 2 Year Fixed Rate Cash ISA with Aldermore Bank to get a great return. 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 0.6%

Why we like it: Open a 1 Year Fixed Rate Cash ISA with Aldermore Bank to get a great return. Withdraw cash early if you need to (subject to loss of interest).

Why have a Savings Account that you cannot access?

You will not have instant access to this savings account but the interest rate will be higher as a result, and you can avoid paying tax on the interest. 

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.

With a fixed rate ISA, 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.

Alternatives to fixed rate ISAs:

A popular alternative is tracker rate ISAs which 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. 

However, the starting rate on a tracker ISA will tend to be lower than for a fixed rate ISA, so the better option will normally depend on how likely you think it is that interest rates will rise over the lifetime of the ISA.

Latest news

Pensioner Bond Maturity - 5 Ideas For Your Cash

From January 2018 over 900,000 people who invested in pensioner bonds will start to see their bonds mature. Savers who have been enjoying 4% pa are going to get a shock when they look for comparable returns from cash in the current market. We have put together 5 ideas for your cash in 2018

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Simplysavingsaccounts.co.uk is a trading style of Fair Investment Company Ltd.

We've been comparing savings and current accounts for many years so you can trust you're in good hands.