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Top 5 cracking fixed-rate ISAs

Top 5 cracking fixed-rate ISAs

Category: ISAs

Updated: 21/02/2013
First Published: 20/02/2013

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

Here are the top 5 fixed rate Cash ISAs:

1 year fixed rate ISAs


1 Year Fixed Rate Cash ISA
(Issue 5)

2.25% AER/Gross

  • Minimum investment £1
  • Further additions not permitted
  • Early access to funds allowed upon account closure, subject to 180 days' loss of interest
  • Transfers in accepted
  • Can be operated in branch or by post

See all 1 yr Fixed Rate ISA best buys


Penny saysPenny 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."

2 year fixed rate ISAs


Santander
2 Year Fixed Rate ISA

2.50% AER/Gross

  • Minimum investment £500
  • Early access to funds allowed upon account closure, subject to 120 days' loss of interest
  • Transfers in accepted
  • Savers must open or hold an existing Santander 123 current account or 123 credit card
  • Can be operated in branch or by telephone

See all 2 yr Fixed Rate ISA best buys

Penny saysPenny 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."

3 year fixed rate ISAs



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


  • Minimum investment £500
  • Early access to funds allowed, subject to 270 days' loss of interest for up to 3 years remaining, 180 days' for up to 2 years remaining and 90 days' for 1 year outstanding.
  • Further additions allowed
  • Transfers in accepted
  • Can be operated by post only

See all 3 yr Fixed Rate ISA best buys

Penny saysPenny 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."

4 yr fixed rate ISAs



Nationwide Building Society
4 Year Fixed Rate ISA

2.70% AER/Gross
  • Minimum investment £1
  • Early access to funds allowed upon account closure, subject to 320 days' loss of interest
  • Further additions not allowed
  • Transfers in accepted
  • Can be operated in branch only

See all 4 yr Fixed Rate ISA best buys

Penny saysPenny 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."


5 yr fixed rate ISAs



Halifax
ISA Saver Fixed

2.70% AER/Gross
  • Minimum investment £500
  • Early access to funds allowed upon account closure, subject to 365 days' loss of interest
  • Further additions allowed
  • Transfers in accepted
  • Can be operated in branch or by telephone

See all 5 yr Fixed Rate ISA best buys

Penny says

"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."


What next?

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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