Best 5 year and longer fixed rate ISAs

In the current 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. Learn more about the yearly ISA allowance and how it works. 

Cash ISAs are available in fixed rate, notice or easy access formats. Unlike variable rate easy access accounts, fixed rate cash ISAs guarantee you a certain rate across a certain amount of time. For example, a five year fixed rate ISA will give you a fixed rate of interest across five years. This can be useful when it comes to reaching your savings goals, in the context of being able to plan ahead.  

Different yearly terms are available and with different rates on offer its a good idea to compare ISA rates before opening an account. There are many alternatives to 5 year fixed rate ISAs available, that you may want to reference before going ahead: 

1 year fixed rate cash ISAs

2 year fixed rate cash ISAs

3 year fixed rate cash ISAs

4 year fixed rate cash ISAs

Stocks and shares ISAs

• You may only be able to make a single deposit and/or transfer in to your fixed rate 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. As soon as the fixed rate ISA is withdrawn from sale to new customers, you won’t be able to put any further money into it.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 yearly term, look instead at an ISA that will allow easy access, or penalty-free access after a notice period has been served. Learn more about easy access cash ISAs and notice cash ISAs.