A trusted partner of moneyfacts.co.uk, Kellands are chartered financial planners that specialise in quality financial planning and investment advice. Learn more about speaking to Kellands for a one hour consultation free of charge. Min. £100k in savings & investments.
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.
DisclaimerAll rates subject to change without notice. Please check all rates and terms before investing or borrowing.
Quick LinksQuick links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use quick links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go to Provider' or 'Speak to a Broker' button, when you call an advertised number or when you complete an application.
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 However, as soon as the fixed rate ISA is withdrawn from sale to new customers, you won’t be able to put any further money into it.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.
BALANCED. Moneyfacts.co.uk is entirely independent and authorised by the Financial Conduct Authority for mortgage, credit and insurance products.
FREE. There is no cost to you. Our service is entirely free and you don't need to share any personal data to access our comparison tables.
TRANSPARENT. We only receive payment from product providers and intermediaries for quick/direct links and adverts through to their websites.
COMPREHENSIVE. We research the whole market and scour the small print so you can find the best products for your needs.
Using an ISA transfer is important as its the only way to retain the tax-free status of your funds. Our helpful guide explains five things you should know before you transfer.
Using an ISA transfer is the only way to retain the tax-free status of your funds. Our helpful guide explains what you should know before you transfer.
Did you know that you can inherit your spouse's/civil partner's ISA savings? This guide explains the rules on inheriting ISAs and the important things you need to know.
Did you know that you can inherit your spouse's/civil partner's ISA savings? This guide explains the rules on inheriting ISAs and the important things you need