Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.
Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £75,000 per person per institution.
If you don’t want to commit your money for too long, but are looking to earn a better rate of interest than is available on short term ISAs, a 2 year fixed rate ISA could be for you.
All cash ISAs have to allow you to transfer your money to another provider, at any point during the term. However, a sizeable interest penalty will be charged if you do – typically anything up to 180 days’ loss of interest.
As with all fixed rate ISAs, it’s important that you’re certain you can commit your money for the full term.
In the 2014-15 tax year (6 April 2014 – 5 April 2015), you can deposit up to £5,940 into a cash ISA. You are only allowed to open one new cash ISA per tax year so if you opt for a 2 year fixed rate ISA, you would not be able to open another cash ISA until April 2015.
When opening a fixed rate ISA, you’ll normally only be allowed to make a single deposit. So if you don’t deposit your full cash ISA allowance, and wished to make a further deposit later, you may only be able to contribute to a pre-existing easy access cash ISA as you’ll likely be unable to make further contributions to your fixed rate ISA pot.
Best cash ISA rates
Use our whole of market savings search to find your ideal cash ISA
Download your free moneyfacts.co.uk guide to ISAs
Stay in the know with all the latest information, of-the-moment consumer trends, best-in-class products & providers and helpful tools from Moneyfacts.
The announcement of a flexible ISA came as welcome news this week: soon, savers will be able to with... More
Everyone wants to do the best they can for their children, and that includes sorting out their futur... More
Saving for the future is something we all need to get into the habit of, but how are you going about... More
At one time, the start of a new year would have heralded the beginnings of ISA season, but our figur... More
During November inflation returned to positive territory, official figures have revealed, rising to ... More
Cash ISAs are a special type of savings account that pay interest tax-free. Each tax year you get an... More
Download your FREE Guide to ISA allowances for the 2015-16 tax year. Find out everything you need t... More
Cash ISA transfers can allow you to get a better interest rate and bring your ISAs together in one p... More
TSB has increased the rate on its two-year ISA by an impressive 0.30%, seeing it soar into the Money... More
Principality Building Society has reduced the rates paid on selected fixed rate deals, but despite t... More
Virgin Money has reduced rates on selected fixed rate deals, but despite this, two of its ISAs retai... More
Shawbrook Bank has reduced selected rates across its savings range, but despite this, its one-year I... More
Virgin Money has increased the rate paid on its no notice ISA by 0.10%, securing its position in the... More
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.