Loss of interest
Your provider may deduct a set number of days’ interest if you withdraw or transfer your money before the fixed term ends.
Our best fixed rate ISAs
Take a look below at our top 5 fixed rate cash ISAs with the highest interest rates.
Lock in your savings: how fixed rate ISAs work
With a fixed rate ISA, you earn a fixed interest rate by keeping your money in the account for a set period, such as one, two or five years. You can save up to £20,000 across your ISAs in the 2026/27 tax year, and any interest earned within an ISA is tax-free.
In return for a fixed rate, access to your savings is usually restricted during the term. You may be able to withdraw or transfer your money early, but your provider could charge a penalty, so check the terms before opening an account.
Your savings and any interest earned remain within the tax-free ISA wrapper while they stay in the account.
Our best fixed rate ISA rates
Fixed rate ISA rates vary by provider and term, so a longer fix won’t always pay a higher rate. Compare the rates available alongside how long you’re comfortable locking your money away for.
What are the pros and cons of a fixed rate ISA?
There are a range of benefits and drawbacks to bear in mind with a fixed rate ISA. Here are some things to consider:
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Pros
Rates may be higher than on instant access cash ISAs.
Security of knowing the rate won’t change for the duration of the fixed term.
Returns are tax-free.
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Cons
You must lock your cash away for a fixed period, the minimum usually being one year.
There may be a fee charged if you need your cash before the term is up.
Some fixed rate ISAs will not permit you to add funds once the account has been opened.
Fixed rate ISA fees and charges
Fixed rate ISAs may have penalties or restrictions if you access your money before the end of the term. These can include:
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Early withdrawal charges
Depending on the account, an early withdrawal or transfer could result in a charge. In some cases, the penalty could mean you get back less than you originally paid in.
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Losing the ISA wrapper
Money you withdraw from an ISA is no longer sheltered inside that ISA. Whether you can replace it without using more of your annual ISA allowance depends on whether the account is a flexible ISA.
How to best manage your fixed rate ISA account
Here are some effective ways to manage your fixed rate ISA:
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Compare fixed rate ISA accounts
Before you commit to an account, compare interest rates and check the terms and conditions to make sure it's right for your personal circumstances.
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Check your ISA allowance
The government sets a limit on the amount you can pay into your ISA each tax year. If you pay in more than the limit, the excess money will be returned to you.
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Reinvest your money
When your fixed rate ISA matures, you can reinvest your money into a new fixed rate cash ISA. You can also reinvest and add more money, or withdraw some money and reinvest the rest.
What happens at the end of the fixed rate period?
At the end of the fixed term you are free to do what you want with your money. You could withdraw your money or transfer all or some of it to another fixed rate cash ISA.
If you want a new fixed rate for your money this is a good time to reassess the market and check you’re getting a competitive rate. You also need to decide whether to lock your money away for the same length of time, or to go for a shorter or longer term deal.
You may also decide you want to move your money into a different kind of ISA, such as an instant access ISA, so you can access it whenever you need it.
How do I access or withdraw my money?
Fixed rate ISAs are designed for money you can leave untouched until the end of the term. If you need your savings earlier, your provider may allow you to withdraw your money, close the account or transfer it to another ISA.
However, accessing your savings before maturity can result in an early-access penalty. Check the terms of your account carefully, as the size and type of charge varies between providers.
What are the rules around fixed term cash ISAs?
Fixed rate cash ISAs should be straightforward. Here’s the key information you’ll need:
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Allowance
You can pay up to £20,000 into ISAs in total during the 2026/27 tax year. You can split this allowance between different types of ISA and can subscribe to more than one cash ISA, provided you stay within the overall limit.
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Withdrawal
While a fixed rate ISA can offer the certainty of knowing your rate won’t change during the term, your access to the money will usually be restricted. If you withdraw or transfer your savings before the fixed term ends, you may face an early-access penalty.
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Transfers
If you want to move money from one ISA to another, ask the new provider to arrange an ISA transfer. Don’t simply withdraw the money yourself if you want it to remain within the ISA wrapper.
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Number of ISAs
You can pay into more than one type of ISA, and more than one ISA of the same type, as long as your total contributions remain within the annual ISA allowance. For example, you could put £10,000 into a fixed rate cash ISA and £10,000 into a stocks and shares ISA.
How to choose the best fixed rate ISA for you
The best fixed rate cash ISA for you will depend on a number of factors, including:
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Interest rate
Compare the AER available across different providers and terms. The highest rate may not necessarily come with the term or access conditions that suit you best.
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Duration – or term
Choose a fixed term you’re comfortable with rather than assuming a longer term will always pay more. Rates can vary considerably between one, two, three and five-year fixes.
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Access
Think about when you might need the money. Avoid locking away savings you may need for emergencies, particularly if you don’t have other easy-access savings available.
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Terms and conditions
Check the small print before applying. Look at early-access penalties, whether additional deposits are allowed and what happens when the fixed term ends.
What's changing with ISAs in 2027?
From 6 April 2027, the government plans to introduce a £12,000 annual Cash ISA limit for people under 65, while keeping the overall ISA allowance at £20,000. People aged 65 or over will continue to have a £20,000 Cash ISA limit, with the higher limit applying from the start of the tax year in which they turn 65.
For someone under 65 who wants to use their full £20,000 ISA allowance, this would mean putting at least £8,000 into another type of ISA, such as a stocks and shares ISA.
The planned rules would also stop people under 65 transferring money from non-cash ISAs into Cash ISAs. Transfers from Cash ISAs to non-cash ISAs would still be allowed.
Money you have already built up inside an ISA is not reduced by the new annual Cash ISA subscription limit.
These changes are due to take effect from 6 April 2027 and draft legislation is currently subject to the legislative process.
Why look for a fixed rate ISA with MoneySuperMarket?
What other types of ISA are available?
Alternatives to a fixed rate cash ISA include:
Easy access ISA: Unlike a fixed rate ISA, easy access ISAs feature variable rates. But the key selling point is that you can access your savings easily and they're not locked up
Junior ISA: Designed for under 18s, these let you deposit up to £9,000 every tax year. Access to the money is barred until the child reaches 18
Regular saver ISA: These allow you to deposit a maximum amount per month in return for a higher interest rate.
Lifetime ISA: Targeted at people saving for their first home or retirement. Lifetime ISAs' key selling point is for every £4 you invest, the government will pay in an extra £1
Stocks and Shares ISA: Invest up to £20,000 each tax year - although higher potential returns are offset by risks that your investments could lose value.
Innovative finance ISA: A comparatively new form of ISA, innovative finance ISAs are composed of peer-to-peer loans rather than cash or stocks and shares
Our expert says…
Is a fixed rate cash ISA right for me?
A fixed-rate cash ISA is a straightforward way to save tax-free, help build up a nest egg and lock in a good rate at a time when the direction of savings rates is uncertain.
Because the rate is fixed, you’ll know the return you will get. Just make sure to shop around to get the best deal possible, and keep an eye out for when the initial fixed-rate period ends as often the interest rates can plummet afterwards.
Kara Gammell Personal Finance & Insurance Expert
How to find a fixed rate ISA with MoneySuperMarket
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Browse our providers
Use the button below to browse the Junior stocks and shares ISA providers available through MoneySuperMarket.
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Review and choose
View accounts from leading UK ISA providers and compare the rates and terms
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Click through to provider
When you find a Junior ISA that suits your needs, click through to the provider to find out more and apply.
Reporting savings scams
We’re aware some fraudsters are trying to use the MoneySuperMarket brand to trick consumers into handing over money or financial details, by offering fake ISA and savings products with eye-catching rates. The best way to stop these scams is to report them.
How do I report an ISA scam?
If you think you’ve been contacted by a fraudster, please stop all communication with them and report it to Action Fraud.
If it’s someone impersonating MoneySuperMarket, please contact our customer services team.
Check out our tips on how to keep you and your family safe from scams.
Am I eligible for a fixed rate ISA?
You can open a fixed rate ISA provided you are over 18 and resident in the UK. You can put away £20,000 in this tax year. You may be able to transfer funds from previous year’s ISAs, but check the terms and conditions.
How do I open a fixed rate ISA?
Compare deals with MoneySuperMarket and once you’ve made your choice, complete your application.
You can then deposit your savings into that account, and your money will earn tax-free interest until the account matures. Note that once you’ve made that initial deposit, you may only be allowed to make additions for a limited period of 14 days. After that, further additions may not be permitted.
Are fixed rate cash ISAs safe?
As with any UK cash ISA, fixed rate ISAs provided by banks and building societies are protected by the Financial Services Compensation Scheme, The FSCS covers £120,000 of savings per individual, per financial institution, should a provider go bust.
What fixed rate term should I get?
The right fixed term will depend on when you might need your money and the rates available when you compare accounts.
A shorter fix gives you access to your money sooner, while a longer fix gives you more certainty over the rate you’ll receive. But longer terms don’t always pay higher rates, so compare different term lengths before deciding.
What happens to a fixed rate ISA if someone dies?
If the account holder passes away before the end of the fixed rate term, it will no longer qualify as an ISA from the date of the death. Beneficiaries will only be able to access funds once the executor closes the account, or once the administration of the estate has been completed. An ISA will form part of your estate for the purposes of inheritance tax. If you have a spouse or civil partner, they can inherit your fixed rate ISA and keep the tax benefits. Your ISA will only remain open until three years and one day after your death.
Will I get a higher rate of interest on a fixed rate ISA?
Fixed rate cash ISAs can sometimes offer higher rates than easy access cash ISAs, but this isn’t always the case. Their main advantage is certainty: the interest rate is fixed for the agreed term, so you know the rate you’ll receive.
Compare both the rate and the account terms before deciding which type of ISA suits you.
Can I combine older ISAs into one?
You can. And there can be real advantages for doing so. Older ISAs may no longer offer a competitive rate, so it can be worth reviewing them and comparing what else is available. You may be able to transfer several older ISAs into one account, which can also make your savings easier to manage.
Do I pay income tax on the profits I make from my ISA savings?
No, you don't. In fact, perhaps the key selling point of ISAs of all kinds is that, unlike savings bonds and regular savings accounts, you don't pay income tax or capital gains tax on your profits.
That makes them an appealing way to save. And, if you've got substantial savings, they're a good way of avoid exceeding your personal tax allowance too.
Comparing savings accounts
You can compare savings accounts using a number of factors. These include the interest rates they offer as well as how long the rate will last, the amount you might need to deposit in order to open the account, and how you can access the account. Once you’ve decided which account you want, simply click through and you’ll be taken to the provider’s website.
Not sure what type of account to go for? Our Savings Decision Tree can help you decide.
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Reviewed on 14 Aug 2026 by
Accurate as of 14 August 2026.
YouGov Survey 1st July 2024 to 30th June 2025. Net Recommend score derived from “Which of the following online service websites would you recommend to a friend or colleague, or tell them to avoid?” Base: Current Customers of (MoneySuperMarket n=18,382, Compare the Market n=16,802, Go.Compare n=10,162, Confused.com n=8,229, Uswitch n=528).
Accurate as of 14 August 2026.
Accurate as of 14 August 2026.
Accurate as of 14 August 2026.
