Fixed rate ISAs at a glance
Fixed rate ISAs offer a secure way to save your money with a fixed interest rate for a set period. Here are the key features of these savings accounts:
- Fixed interest rate: The interest rate will not change for the term of the product, so you know exactly how much your savings will grow by.
- Tax-free savings: You don't pay tax on the interest earned, allowing you to keep more of your money.
- Fixed term: If you need to access your money before the end of the fixed term, you will incur an interest penalty.
Tax-free refers to the contractual rate of interest payable, where interest is exempt from income tax. The tax information provided is based on the current law and HM Revenue & Customs practice, both of which may change.
What is a fixed rate ISA?
A fixed rate ISA is a type of savings account where you put your money away for a set time, typically between one and three years. During this time, the interest rate stays the same, so you know exactly how much your savings will grow.
With a fixed rate ISA, you don’t pay tax on the interest you earn, which means you get to keep more of your money. These accounts are a great way of saving tax-efficiently and fix the interest rate you earn on your savings.
Browse our fixed rate ISAs
Please click 'View full product details' on a product you’re interested in for further details.
Fixed rate ISAs and Easy access ISAs
Compare the features of a fixed rate ISA with those of an easy access ISA to better understand the difference between these product types.
| Feature | Fixed rate ISAs | Easy access ISAs |
| Interest rate | Fixed for the term of the product | Variable, can change over time |
| Access to funds | Funds can be accessed at the end of the term | Can withdraw money at any time without penalty |
| Tax benefits | Interest earned is tax-free | Interest earned is tax-free |
| Penalties | Early withdrawal usually incurs a penalty | No penalties for withdrawals |
| Ideal for | Those who want to fix the rate of interest they receive on their savings for a fixed period | Those who need flexibility and might need to access their savings at any time |
Interested in an Easy access ISA instead? View our Cash ISAs page with a range of different access options.
Ways to apply
To open a savings account with us, you can apply either online or in one of our branches (as detailed in the individual product information).
Deposits protected up to £120,000
Your eligible deposits with Newcastle Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with Newcastle Building Society and Manchester Building Society (as a trading name of Newcastle Building Society). Any deposits you hold above the £120,000 limit are unlikely to be covered.
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