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Best 2 Year Fixed Rate ISAs

Why choose a 2 year fixed rate ISA?

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 a 1 year ISA, a 2 year fixed rate ISA could be your best option. Further deposits after account opening are not usually allowed. View today's best rates below or read our guide to 2 year fixed rate ISAs to learn more.  

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Browse Fixed Rate ISA Terms

Best ISA rates - 2 year fixed

Best ISA rates - 2 year fixed

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  • Paragon Bank 2 Year Fixed Rate Cash ISA
    AER
    2.40%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Anniversary
    Further Options ˅
    Go To Provider's Site
    AER
    2.40%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Monthly
    Go To Provider's Site
  • Skipton BS 30 Month Online Fixed Rate Cash ISA Issue 186
    AER
    2.20%
    Account Type
    Cash ISA
    Term
    30 Month Bond
    Interest Paid
    Anniversary
    Go To Provider's Site
  • Leeds BS 2 Year Fixed Rate Cash ISA (Issue 160)
    AER
    2.00%
    Account Type
    Cash ISA
    Term
    31.07.24
    Interest Paid
    Yearly
    Go To Provider's Site
  • Aldermore 2 Year Fixed Rate Cash ISA
    AER
    1.90%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Anniversary
    Further Options ˅
    Go To Provider's Site
    AER
    1.90%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Monthly
    Go To Provider's Site
  • Skipton BS 2 Year Online Fixed Rate Cash ISA Issue 186
    AER
    1.70%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Anniversary
    Further Options ˅
    Go To Provider's Site
    AER
    1.70%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Monthly
    Go To Provider's Site
  • Charter Savings Bank 2 Year Fixed Rate Cash ISA
    AER
    2.45%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Anniversary
    Further Options ˅
    AER
    2.45%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Monthly
  • Castle Trust Bank Fixed Rate e-Cash ISA
    AER
    2.43%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    On Maturity
  • Castle Trust Bank Fixed Rate e-Cash ISA
    AER
    2.42%
    Account Type
    Cash ISA
    Term
    2 Year Bond
    Interest Paid
    Anniversary
  • Virgin Money 2 Year Fixed Rate Cash E-ISA Issue 499
    AER
    2.36%
    Account Type
    Cash ISA
    Term
    24.06.24
    Interest Paid
    Yearly
    Further Options ˅
    AER
    2.36%
    Account Type
    Cash ISA
    Term
    24.06.24
    Interest Paid
    Monthly
  • Secure Trust Bank 2 Year Fixed Rate Cash ISA
    AER
    2.35%
    Account Type
    Cash ISA
    Term
    22.07.24
    Interest Paid
    Yearly
Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme (FSCS) up to a maximum level of protection of £85,000 per person per institution. All new savings or bank accounts provided to UK customers are now covered by the FSCS.

Disclaimer

All rates subject to change without notice. Please check all rates and terms before investing or borrowing.

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A guide to 2 year fixed rate ISAs

At a glance

  • A medium-term option for ISA cash you don’t need to access
  • Make sure you can commit your money for the full two-year term
  • Further deposits after account opening are not usually allowed

How does a 2 year ISA work?

In the 2022-2023 tax year (a tax year runs from 6 April to the following 5 April), you can deposit up to £20,000 into a cash ISA. You are only allowed to open one new cash ISA per tax year, so if you opt for a 1-year fixed rate ISA, you will not be able to open another cash ISA until the next tax year. The only exception to this is if a provider allows you to ‘share’ your ISA allowance across their range of cash ISAs.

You may only be able to make a single deposit and/or transfer in to your 2-year ISA when you open the account. You might be permitted to make further deposits into the ISA, but this is only while the product remains on general sale. However, as soon as the fixed rate ISA is withdrawn from sale to new customers, you won’t be able to put any further money into it.

Although you will be able to transfer money out of your ISA, there will usually be a hefty interest penalty to pay. If you think you’ll need access to your money within the 2-year term, look instead at an ISA that will allow easy access, or penalty-free access after a notice period has been served.

Looking for easy access?

Moneyfacts tip Leanne Macardle

Don’t open a 2 year fixed rate ISA if you think you’ll need access to your money during the term. If you make a withdrawal the interest penalty charged could mean that you’ll earn less interest on your ISA savings than if you had opted for the top-paying easy access cash ISA instead.

Browse ISA terms

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