Best Fixed Cash ISA Rates

As average fixed savings rates fall, one-year fixed bonds and ISAs have been outperforming longer-term deals.

As average fixed savings rates fall, one-year fixed bonds and ISAs have been outperforming longer-term deals.

The rate of UK inflation held at 4% in the year to January, revealed today’s release from the Office for National Statistics (ONS), following an unexpected uptick the previous month.

The rate of UK inflation held at 4% in the year to January, revealed today’s release from the Office for National Statistics (ONS).

Despite the fall, those now exiting a fixed deal will find average savings rates are higher than at the start of 2023.

Despite the fall, those now exiting a fixed deal will find average savings rates are higher than at the start of 2023.

While it’s no longer possible to find a fixed bond paying 6.00% AER, savers shouldn’t feel disheartened. We provide some alternative options to consider.

This is the first time since June of this year there are no fixed bonds offering a rate of 6.00% AER or more.

The average rate paid by a fixed bond with a term over 550 days dropped to 5.11% at the start of October, according to Moneyfacts’ data. This is the first time this rate has fallen since March 2023.

This is the first time average rates have fallen in this sector since March 2023.

Rising fuel prices largely responsible for sustained, elevated inflation despite food prices falling for the first time since September 2021

Rising fuel prices largely responsible for sustained, elevated inflation despite first monthly fall in cost of food since September 2021.

The Bank of England’s Monetary Policy Committee (MPC) voted to keep the base rate at 5.25% today - the first time in almost two years the MPC have opted to keep borrowing costs unchanged.

This is the first time in almost two years the Bank of England’s Monetary Policy Committee (MPC) opted to keep borrowing costs unchanged.

Food prices are rising at a slower pace, while a fall in energy costs also contributed towards this month’s decline.

Food prices are rising at a slower pace, while a fall in energy costs also contributed towards this month’s decline.

The last time this rate was higher was November 2008.

The last time this rate was higher was November 2008.

Four high street providers, Nationwide, Santander, TSB and Virgin Money, all defended their savings rates in letters published last week. This follows correspondence from the Treasury Committee in May which criticised the banks and building societies for seemingly failing to pass increases to the Bank of England base rate on to savers.

Their responses cite current accounts and fixed products as higher-rate alternatives.

Since last Wednesday, there are now 43 more fixed rate deals which offer 5% gross or more.

Since last Wednesday, there are now 43 more fixed rate deals which offer 5% gross or more.

This is the 12th consecutive rise to the base rate since December 2021.

This is the 12th consecutive rise to the base rate since December 2021.