Earn tax-free interest on a lump sum when you lock your money away for 18 months, 2 years, or 3 years and enjoy fixed rates for your chosen term.
Is a Fixed Rate Cash ISA right for you?
This account is for:
- Earning tax free interest at a set rate
- Locking away your money for 18 months or more
- Saving a lump sum
This account is not for:
- Someone looking to make regular saving deposits
- Making withdrawals before the term is finished
- Saving more than £20,000 in a single tax year
How much could you earn in interest?
If you chose an 18 month term and put in £3,000 when you opened the account and made no further deposits, the balance after 18 months will be £3,158.89
Fixed Rate Cash ISA Summary Box
All the information you need to know about this savings account can be found here:
| 18 Month Fixed Rate Cash ISA | 3.44% Tax free/3.50% AER (Fixed) |
| 2 Year Fixed Rate Cash ISA | 3.50% Tax free / AER (Fixed) |
| 3 Year Fixed Rate Cash ISA | 3.50% Tax free / AER (Fixed) |
Interest payments
Interest is calculated each day. Interest is paid yearly on the anniversary of opening your account and at maturity for terms of whole years (e.g. 2 or 3 years) and paid monthly and at maturity for part year terms (e.g. 18 months).
No, we can't change the interest rate during the fixed term of your Fixed Rate Cash ISA.
Based on a £3,000 deposit, with no deposits or withdrawals made from the account, and variable interest rates remaining the same:
| Fixed Rate Cash ISA - 18 Months | Interest earned at 3.44% Tax free/3.50% AER (fixed) | £158.89 |
| Estimated balance after 18 months | £3,158.89 | |
| Fixed Rate Cash ISA - 2 Years | Interest earned at 3.50% Tax Free / AER (fixed) | £213.68 |
| Estimated balance after 2 Years | £3,213.68 | |
| Fixed Rate Cash ISA - 3 Years | Interest earned at 3.50% Tax Free / AER (fixed) | £326.15 |
| Estimated balance after 3 Years | £3,326.15 |
This is an example only and doesn't take into account your individual circumstances.
Ways to open |
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| Who can open | You must be:
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Open with |
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| Manage your account |
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Are withdrawals allowed?
Yes, withdrawals are allowed
Notice Period: None
Withdrawal charges: If you take money out of your account more than 14 days after opening the account, you ll pay a charge. This includes transfers to another ISA with us or another provider.
The charge depends on the term of your account:
| Term | Withdrawal charge |
|---|---|
| 18 Months | Equivalent to 135 days’ interest on the amount taken out or transferred |
| 2 Years | Equivalent to 180 days’ interest on the amount taken out or transferred |
| 3 Years | Equivalent to 270 days’ interest on the amount taken out or transferred |
For example: if you had an account with a 2 year term and took out £2,000, the charge would be the amount of interest you’d earn on the £2,000 for 180 days.
We ll take the charge from the balance in your account before you take out the money. You may get back less money than you originally paid into your account.
How to Withdraw:
- Cash
- Bankers draft
- Transfer to TSB current or savings account in your own name
(Fees may apply to some of these services, please see our Savings Account General Conditions for more information)
You can withdraw and replace money from your Fixed Rate Cash ISA without it counting towards your yearly ISA allowance for that year, as long as the repayment is made in the same tax year as the withdrawal, and paid into a new Fixed Rate Cash ISA or Cash ISA Saver.
- Accounts can only be opened in a sole name.
- Opening a Fixed Rate Cash ISA will limit the amount that can be invested in a stocks and shares or innovative finance ISA. To find out more about this, speak to a Partner in your local branch or call us.
- The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
- Your account will mature into a Cash ISA Saver (off bonus) at the end of the term. We'll contact you before this happens with your options.
- If you aren't happy with your Fixed Rate Cash ISA, you can cancel within 14 days without charge.
- You can also close your account after 14 days subject to the charge above.
Rates and information correct as at 21/11/2025.
Choose the term for your Fixed Rate Cash ISA
You must be 18 or over and a UK resident to apply
18 month fixed rate
3.50% Tax-free/AER (Fixed)
2 year fixed rate
3.50% Tax-free/AER (Fixed)
3 year fixed rate
3.50% Tax-free/AER (Fixed)
If you prefer to apply in branch or over a video call, you can book an appointment in advance.
Important documents
Fixed Rate Cash ISA FAQs
A Fixed Rate Cash ISA is a savings account in which your money is held for a fixed term and earns a guaranteed rate of interest.
With a Fixed Rate Cash ISA, you receive a fixed interest rate over a certain period of time. This means that you’re earning guaranteed, tax-free interest on the savings you deposit.
Yes, you can withdraw and replace money from your Fixed Rate Cash ISA without it counting towards your ISA allowance for that year. However, the repayment must be made in the same tax year as the withdrawal and paid into a new Fixed Rate Cash ISA or Cash ISA Saver.
A Fixed Rate Cash ISA gives you a guaranteed rate of tax-free interest over your chosen period of time. You can feel confident that the interest rate will not change during this period. You also get a 30 day window after opening the account to deposit funds.
Although Fixed Rate Cash ISAs give you instant access to your money, early withdrawals will cause you to lose out on a certain amount of interest. For more information on withdrawal charges, please see the summary box on our Fixed Rate Cash ISA page.
Yes, you can. Our savings accounts are not credit-scored in the same way as current accounts.
At the end of your chosen term, your Fixed Rate Cash ISA will mature into a Cash ISA Saver (off bonus). We'll contact you before this happens to find the option that’s right for you.
You can deposit money and manage your Fixed Rate Cash ISA through a few different channels, including in branch, over the phone, online or via the TSB Mobile Banking App.
Yes, your savings are protected under the Financial Services Compensation Scheme. The scheme protects up to £120,000 (or £120,000 each for joint account holders — £240,000 altogether) of the deposits in your TSB savings and current accounts.
Visit the FSCS website for more information on the scheme and full details of the companies covered.
We will write to you in advance of your account maturing to discuss options and find the right path for you. These will include opening a new Fixed Rate Cash ISA, creating a new savings account, or taking the money out should you wish to do so.
Important Information
The Annual Equivalent Rate (AER) shows what the interest would be if the interest was paid and added to the account once each year. It lets you compare savings accounts easily. Gross rate means that credit interest is paid without income tax being deducted. Tax-free is the contractual rate of interest payable where interest is exempt from income tax.
Tax-free means the interest paid will be free from UK Income Tax. The tax advantages depend on your individual circumstances and the tax treatment of your ISA may change in the future.
You need to be 16+ and UK resident to open most of our savings accounts with the exception of Savings Pots and TSB ISAs. For children under 16 please see specific pages for opening procedures.
