The fixed-rate ISA market offers some of the best savings rates around, combining competitive returns with the added attraction of paying no tax whatsoever on any interest accrued.
Fixed rate ISAs are also the only area of the savings market that offers inflation beating rates, which appeals to many savers who have had their returns severely dented by continued high inflation.
1 Year Fixed Rate Cash ISA (Issue 5)
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Penny says… "Paying a market-leading rate of 2.25%, this one-year deal also accepts transfers in from previous years' ISA funds.
"Further additions cannot be made during the term, so savers need to invest as much as possible upon opening the account."
Santander 2 Year Fixed Rate ISA
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Penny says… "Available to existing 123 current account or credit card holders, this attractive tax-free deal pays a market-leading rate of 2.50%.
"Withdrawals can be made during the term, although it is important to remember that a 120 days' loss of interest penalty will apply."
BM Savings 3 Year Fixed Rate ISA
2.80% AER/Gross for investments of £50,000 and over 2.60% AER/Gross for investments between £25,000 and £49,999 2.40% AER/Gross for investments between £10,000 and £24,999 2.30% AER/Gross for investments between £5,000 and £9,999 2.20% AER/Gross for investments between £500 and £4,999
See all 3 yr Fixed Rate ISA best buys
Penny says… "This three-year ISA pays various rates to savers with a wide range of deposit amounts.
"Early access to funds is permitted, although it is important to check the remaining term prior to making a withdrawal, as the loss of interest is determined by the bond's outstanding period."
Nationwide Building Society 4 Year Fixed Rate ISA
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Penny says… "This branch-based ISA pays a highly competitive tax-free rate to savers with deposits of £1 and over.
"Savers must be sure to invest as high an amount as possible initially as further additions cannot be made during the four-year term."
Halifax ISA Saver Fixed
See all 5 yr Fixed Rate ISA best buys
"Savers prepared to lock their money in for the long term will be pleased with this competitive five-year ISA.
"Requiring an initial deposit of £500, this deal also accepts transfers in from previous years' allowances."
1 year fixed rate cash ISAs 2 year fixed rate cash ISAs 3 to 5 year fixed rate cash ISAs Download your free guide to ISAs
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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