A Fixed Rate Cash ISA may be suitable if you:
- Have a lump sum to deposit or transfer and won’t want to add additional funds or make withdrawals during the fixed rate period
- Don’t rely on your savings for everyday living costs
- Want to benefit from tax free interest
- Want a guaranteed interest rate for the duration of the fixed term
- Accept that there will be a deduction of interest if you need access to your money during the term
A Fixed Rate Cash ISA may not be suitable if you:
- Need access to your money during the fixed rate period
- Rely on your savings for everyday living costs
- Are aware of an upcoming change in your circumstances that may mean you need access to your savings during the fixed rate period
- Want to pay in more than £20,000 in the current tax year across all your ISA accounts