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Current best rate:
9.90%
Best Fixed Rate Savings Accounts & ISAs 2018

Compare the top 10 savings accounts rates in the UK. These fixed-rate ISAs lock in your money for a fixed period of time, achieving a better than average interest rate which can beat inflation.

Best Fixed Rate Savings Accounts & ISAs 2018

Compare the top 10 savings accounts rates in the UK. These fixed-rate ISAs lock in your money for a fixed period of time, achieving a better than average interest rate which can beat inflation.

Blackmore - 3 Year ISA
BEST RATE

Interest Rate:

7.90%

Account Type

Fixed Rate ISA

Open With

£5,000

Interest Rate:

7.90%

Security Scheme

Capital Protection Scheme New Investors: Invest now and receive £150 cashback.
Lending Works - 5 Yr IFISA

Interest Rate:

6.00%

Account Type

IFISA

Open With

£100

Interest Rate:

6.00%

Security Scheme

Not covered by FSCS
Zopa - Zopa Core IFISA

Interest Rate:

4.50%

Account Type

Innovative Finance ISA

Open With

£1,000

Interest Rate:

4.50%

Security Scheme

Capital at Risk. Not FSCS.
Landbay - Property‐Backed ISA

Interest Rate:

3.54%

Account Type

Fixed Rate ISA

Open With

£5,000

Interest Rate:

3.54%

Security Scheme

Not FSCS covered
Shawbrook Bank - 5 Year Fixed Rate Cash ISA Bond

Interest Rate:

2.25%

Account Type

Fixed Rate Cash ISA

Open With

£5,000

Interest Rate:

2.25%

Security Scheme

FSCS
Virgin Money - 5 Year Fixed Rate Cash E-ISA

Interest Rate:

2.11%

Account Type

Fixed Rate Cash ISA

Open With

£1

Interest Rate:

2.11%

Security Scheme

FSCS
Coventry Building Society - Fixed Rate ISA 30.11.2023

Interest Rate:

2.10%

Account Type

Fixed Rate ISA

Open With

£1

Interest Rate:

2.10%

Security Scheme

FSCS
Leeds Building Society - 5 Year Fixed Rate ISA

Interest Rate:

2.05%

Account Type

Fixed Rate Cash ISA

Open With

£100

Interest Rate:

2.05%

Security Scheme

FSCS
Skipton Building Society - 5 Year Fixed Rate Cash ISA

Interest Rate:

2.01%

Account Type

Fixed Rate Cash ISA

Open With

£500

Interest Rate:

2.01%

Security Scheme

FSCS
United Trust Bank - Cash ISA 5 Year Bond

Interest Rate:

2.00%

Account Type

Cash ISA Bond

Open With

£15,000

Interest Rate:

2.00%

Security Scheme

FSCS. Transfers in only. Postal account only.
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Why Save with a Fixed-Rate Savings Account?

If you've got a lump sum you're happy to stash away for a few years, a fixed-term savings account could be the right account for you.

With over 1700 savings accounts available in the UK, Best Savings Rate helps you to compare the best fixed-rate savings accounts on the market for you. Interest rates on each account update multiple times a day - so you can quickly and easily decide which one will work for you.

Most of these top 10 accounts offer growth via compound interest, and others may pay income where you choose.

A fixed-rate account can offer much great rates than easy access savings accounts, and usually the rate is higher for longer savings term lengths. An example would be a 12-month fixed-rate bond which has a lower interest rate than a 5-year bond issued by the same bank. These fixed-term accounts are often called savings bonds.

The disadvantage of a fixed-term account is that you may incur penalties if you choose to withdraw funds before the end of the term.

Why Choose a Fixed-Rate ISA Account?

The advantage of choosing an Fixed-Rate ISA is that all of the interest will be tax-free during the length of the term.

  • Every UK citizen has a total yearly allowance of £20,000 for 2018/19 which can be paid into their ISAs.
  • There are several different types of ISA, with the new Innovative Finance ISA offering savers an alternative investment to cash which can pay high interest rates, tax free.
  • An individual can have different types of ISA but can only pay into one of each type in each tax year.
  • For example, you can put in £5,000 into a Cash ISA and £15,000 into a stocks and shares ISA in the current tax year. But you cannot pay £10,000 into two different Stocks and Shares ISAs in a tax year.
  • There are not joint ISAs – ISA actually stands for ‘Individual Savings Account’.

If you want to know more about ISA rules, we recommend the Government’s website, which has further information: https://www.gov.uk/individual-savings-accounts

Although interest is always tax-free in an ISA, savers using a standard account or bond are also able to get a sum of interest tax-free, depending on their circumstances.

This is called the Personal Savings Allowance. Find out more here.

Why Are Savings Account Rates so Low?

Interest rates are set by the Bank of England Monetary Policy Committee (MPC) and have been low since the 2008/09 financial crisis.

Low interest rates will then have a knock-on effect, with banks unable to raise their rates on standard savings accounts.

Of course, there is no single reason why this is – it is indeed a combination of factors which push interest rates low.

When Will Savings Interest Rates Rise?

Due to the poor economic outlook, rates look to remain low for some time.

Our analysts review rumours regularly and write about possible likely dates the next raise will be.

How Many Savings Accounts Can You Have?

Although it is simple to open a multitude of instant-access or regular savings accounts, it is worth understanding the exact type of product you are applying for.

There are different types of ISAs and these have their own set of rules due to the tax-free nature of these accounts.

What is the FSCS?

Funded by providers of financial advice, the ‘Financial Services Compensation Scheme’ covers individuals savings up to £85,000 if a regulated financial institution or bank collapses.

Companies covered by the FSCS are those regulated the Financial Conduct Authority (FCA). It is worth bearing in mind that investment ISAs will not be covered by such a scheme, so are considered riskier.

Bank Accounts from a European provider may be covered by an equivalent scheme which vary depending on the country of origin.

Find out more about the FSCS: https://www.best-savings-rate.co.uk/news/what-is-fscs/

How to Transfer an ISA Savings Account?

Already have an ISA with a lacklustre interest rate? Don’t worry, you can transfer all or part of this amount to a higher-rate ISA, without losing the tax-free status.

READ MORE