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Product focus: Fixed rate ISAs

Product focus: Fixed rate ISAs

Category: Savings

Updated: 17/06/2011
First Published: 17/06/2011

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 It is now over 6 months old so the content may be out of date.

There is currently only one account, a five year fixed rate ISA, which negates the effects of CPI inflation. Whilst long-term fixed rate ISAs offer some of the best rates in the savings market, investors must be willing to lock their money away for the duration of the term.

Here is a selection of some of the best fixed rate ISAs at present.

Birmingham Midshires - 5 Year Fixed Rate ISA

  • This account pays a rate of 5.00% on its anniversary.
  • A monthly interest option is also available at 4.89%.
  • Savers can invest a minimum of £500 and further additions can be made.
  • Early access is permitted.
  • This is subject to loss of interest depending on the remaining term, as follows:
    • Year one, 365 days;
    • Year two, 320 days;
    • Year three, 270 days;
    • Year four, 180 days and;
    • Year five, 90 days.
  • Transfers in are accepted. The account is available to savers aged 16 and over and can be operated by post only.

Halifax - Fixed Rate ISA Saver

  • This four year bond pays 4.40% on maturity.
  • A minimum investment of £500 is required and further additions can be made whilst the issue is open.
  • Early access is allowed on account closure only, subject to 180 days' loss of interest.
  • Transfers in are accepted.
  • The account can be operated in branch, by telephone and online by savers aged 16 and over.

Cheshire Building Society - 4 Year Fixed Rate Cash ISA (02)

  • This four year bond pays a rate of 4.40% on its anniversary.
  • Savers can invest a minimum of £100.
  • Further additions are not allowed.
  • Early access is allowed on account closure only, although this is subject to 320 days' loss of interest.
  • Transfers in are accepted.
  • The account is available to savers aged 16 and over and can be operated in branch and by post.

Find the best savings rates for you - Compare savings accounts

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 Any products featured may be withdrawn by their provider or changed at any time.

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