Best 1 Year Fixed Rate ISAs 2018 | moneyfacts.co.uk

Compare 1 Year Fixed Rate ISA Best Buys

  - Find the best 1 year fixed rate ISA with our independent Best Buys.
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Compare the Best 1 Year Fixed Rate Cash ISAs

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AER Notice / Term Min Invest Transfer In Account Opening Search all
1800 Accounts
 

1.75%
12 Month Bond £1000 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.74%
1 Year Bond £1000 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.73%
1 Year Bond £500 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.70%
31.05.20 £1 Yes
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...  

1.67%
1 Year Bond £1000 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...  

1.61%
expected rate
12 Month Bond £1000 Yes
  1. Yes
  2. Yes
  3. Yes
  4. Yes
Details...  

1.59%
18 Month Bond £500 Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.56%
1 Year Bond £100 Yes
  1. No
  2. Yes
  3. Yes
  4. No
Details...
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1.55%
28.02.20 £10 Yes
  1. Yes
  2. Yes
  3. No
  4. Yes
Details...
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1.55%
28.02.20 £10 Yes
  1. Yes
  2. Yes
  3. No
  4. Yes
Details...
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1.55%
1 Year Bond £1000 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.55%
31.03.20 £100 Yes
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...
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1.36%
1 Year Bond £500 Yes
  1. Yes
  2. No
  3. No
  4. No
Details...
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1.75%
01.11.20 £100 Yes
  1. Yes
  2. Yes
  3. Yes
  4. No
Details...
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1.45%
23.03.20 £500 Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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1.25%
24.09.19 £500 Yes
  1. Yes
  2. Yes
  3. No
  4. No
Details...
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Moneyfacts.co.uk Best Buys show the best products chosen by our independent experts. Where we have been able to we have also provided a link for you to open an account today. Products shown with a yellow background are sponsored products.

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution.

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

Best short-term ISAs

The re-launch of Paragon Bank’s Limited Edition Easy Access ISA was the biggest news in the flexible ISA sector. This account offered savers the best deal in January with its rate of 1.45% yearly, or 1.44% on a monthly basis. Savers needed to be quick to open the account as, true to its name, it was only available for a limited time and was removed from the market in February.

For short-term savers, there was a lot of competition in the one-year fixed rate cash ISA sector. This started when Aldermore increased the rate on its product to 1.70%, which Coventry Building Society quickly followed by raising the rate on its own one-year fixed rate ISA to offer savers the same rate. Usurping both Aldermore and Coventry Building Society by the end of January was Cynergy Bank, which increased its rate to offer savers 1.73%. 

1 year fixed rate ISAs explained

  • Earn a higher rate of interest than on a notice or easy access cash ISA
  • Make sure you can commit your money for a year
  • You can only usually make one deposit and/or transfer to the fixed rate ISA

If you normally deposit your whole cash ISA allowance in one go, and don’t make any withdrawals during the tax year, a 1 year fixed rate ISA could be for you.

Paying a guaranteed rate of interest, a fixed ISA can help you maximise your returns as it can pay more than a variable rate notice or easy access cash ISA, as well as more than an equivalent fixed rate bond after tax has been taken into consideration.

For example, a 2.00% 1 year fixed rate ISA is equivalent to a 2.50% 1 year fixed rate bond if you are a basic rate taxpayer and you earn savings interest above your Personal Savings Allowance (3.33% if you pay higher rate tax).

You may only be able to make a single deposit and/or transfer in to your 1 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 1 year term, look instead at an ISA that will allow easy access, or penalty-free access after a notice period has been served.

Warning Don’t open a 1 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.

What Next?

Best cash ISA rates
Use our whole of market savings search  to find your ideal cash ISA

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AER:
DETAILS:

Oaknorth

12 month Bond


1.75%
  • 1.75% paid at £1000
  • Interest paid : Monthly
  • Min investment sum: £1,000
  • Open online only 
  • Manage online and by telephone
  • Transfers from Cash ISAs allowed
  • Early access subject to 90 day loss of interest. Minimum withdrawal of £1K, or the remaining balance if below £1K.
  • Min age: 18


AER:
DETAILS:

Shawbrook Bank

1 year fixed rate cash ISA Bond

1.74%
  • 1.74% paid at £1,000
  • Interest paid: On maturity
  • Min opening sum: £1,000
  • No Max investment
  • Withdrawals allowed but earlier access subject to 90 day loss of interest
  • Min age: 18
  • Transfers in accepted from Cash ISAs and Stock & shares ISAs
  • Open account online only
  • Manage account online or by telephone

AER: 
DETAILS: 

Cynergy Bank

Fixed rate cash ISA


1.73%
  • 1.73% paid at £500
  • Interest paid: Anniversary
  • Min opening sum: £500
  • Early access allowed subject to 180 day loss of interest
  • Min age: 16
  • Transfers from Cash ISAs and Stcoks & shares ISAs
  • Open online only
  • Manage account online, by post, by telephone and in branch.
AER:
DETAILS:

Coventry Building Society

Fixed rate ISA 

1.70%
  • 1.70% paid at £1
  • Interest paid: Yearly
  • Min opening sum: £1
  • Early access on closure only on 120 day loss of interest
  • Min age: 16
  • Transfers from Cash ISAs, stocks & shares ISAs & Help to buy ISAs
  • Open and manage account account online, by post, by telephone and in branch
AER:
DETAILS:

Charter Savings Bank

1 year fixed rate cash ISA

1.67%
  • 1.67% paid at £1,000
  • Interest paid: Anniversary
  • Min opening amount: £1,000
  • Early access subject to 150 days loss of interest
  • Min age: 18
  • Transfers from: Cash ISAs and Stocks & Shares ISAs allowed
  • Online opening and management of account only
AER:
DETAILS:

Al Rayan bank

Fixed term Deposit Cash ISA

1.61% (Expected)
  • 1.61% paid at £1,000 (Expected)
  • Interest paid: Quarterly
  • Min age: 16
  • Min investment £1,000
  • No withdrawals allowed
  • Transfers from cash ISAs and Stocks & shares ISAs
  • Account opening and management online, by post, by telephone, in branch and by mobile app
  • This bank operates under Islamic finance principles, the rates displayed represent the expected profit rate.
Rates and information correct as of 15/02/2019

 
 

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