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Fixed Rate ISAs

Score for Skipton Building Society

Our Fixed Rate ISAs allow you to save tax-free, knowing the rate of interest won't change for the fixed term. You won't be able to continue to transfer in or pay in throughout the fixed term, but our Fixed Rate ISAs do allow payments and ISA transfers in when opening the account. If you close your account early you will incur an interest penalty so you may get back less than you paid in.

Our range of Fixed Rate Cash ISAs

Account name Interest rate Product overview Ways to apply
1 Year Fixed Rate Cash ISA Issue 246
4.50% tax-free pa/AER fixed
  • Save from £500
  • No withdrawals
  • Early closure subject to 60 days' interest penalty
Find out more
2 Year Fixed Rate Cash ISA Issue 246
4.20% tax-free pa/AER fixed
  • Save from £500
  • No withdrawals
  • Early closure subject to 180 days' interest penalty
Find out more
30 Month Fixed Rate Cash ISA Issue 248
4.35% tax-free pa/AER fixed
  • Save from £5,000
  • No withdrawals
  • Early closure subject to 180 days' interest penalty
Find out more

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest was paid and added each year. All ISA interest is paid tax-free, which means it’s exempt from income tax. We pay all non ISA savings interest gross, which means no tax is deducted. It’s your responsibility to pay any tax due, based on your individual circumstances. Tax rules may change in future.

Please be aware that products can be withdrawn at any time and without notice.

What happens on maturity?

When your fixed term ends, your account will transfer into a similar product with a 1 year fixed term, unless you tell us otherwise.

Frequently asked questions

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What is a Fixed Rate Cash ISA?

A Fixed Rate Cash ISA is a savings account that allows you to save up to your annual ISA allowance without paying tax on the interest you earn, while the interest rate will be fixed over the term of the account. Partial withdrawals are not allowed, but you can withdraw the full balance and close your account early, this will mean you will incur an interest penalty and you may get back less than you paid in.

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What are the advantages of a Fixed Rate Cash ISA?

The main benefit of a Fixed Rate Cash ISA is the option to use your annual ISA allowance, meaning you won’t pay tax on the interest you’ll earn on your savings. The other main feature is the guaranteed interest rate, so the rate of interest won't change for the fixed term.

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How many fixed rate cash ISAs can I have?

You can have more then one Fixed Rate Cash ISA from a previous tax year or in the same tax year.

You can find out more about how many types of ISAs you can have on our How many ISAs can you have? page.

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How much can I deposit into a fixed rate Cash ISA?

You can deposit up to your annual ISA allowance, for this tax year the allowance is £20,000. For more information visit our ISA allowance page.

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Which fixed rate cash ISA should I choose?

When choosing an ISA, the key things to consider are the interest rate, the length of the term and the access you’ll need to your money. The right fixed rate ISA for you will be determined by your own personal situation and whether you need regular access to your savings or are able put your money away for a longer period.

If you need help deciding, you could book a free review with one of our ISA specialists. To find out how and what else you can talk to us about, visit our My Review page.

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Can I close my Fixed Rate Cash ISA early?

Yes, you can withdraw the full balance of your Fixed Rate Cash ISA and close your account at any point during the term. However, it's important to note that if you close your account after 14 days from opening, you'll have to pay an interest penalty, which may mean you get back less than you paid in.

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Can I transfer other ISAs into a Fixed Rate Cash ISA with Skipton?

Yes, you can transfer ISAs from previous tax years and from other providers into a new fixed rate cash ISA account through an ISA transfer. You can find out more about how to do this on our ISA transfer page.

Other ways to save

If a Fixed Rate Cash ISA is not right for you we have a range of other types of savings accounts.

  • Easy Access accounts
  • Easy Access ISAs
  • Fixed Rate Bonds
  • Compare savings accounts

You're protected up to £85,000

Your eligible deposits with Skipton Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.

Learn more about the FSCS

FSCS - Protecting Your Money

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Site intended for UK residents only. Skipton Building Society is a member of the Building Societies Association. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 153706, for accepting deposits, advising on and arranging mortgages and providing Restricted financial advice.
Principal Office, The Bailey, Skipton, North Yorkshire, BD23 1DN.

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