Fixed Rate Cash ISAs

A fixed rate cash ISA is a type of fixed rate savings account that offers a tax-free, guaranteed interest rate for the term of the product, providing a predictable return on your savings.

You can make withdrawals before maturity, but this will be subject to a loss of interest, known as an early exit charge. At Shawbrook we offer fixed rate cash ISAs with terms ranging from 1 to 7 years. 

Fixed rate cash ISAs are a type of fixed rate savings account. They offer a fixed interest rate in addition to tax-free savings. At Shawbrook you may be able to make withdrawals before maturity, but this will be subject to a loss of interest, known as an early exit charge. 

Fixed rate bonds are another type of fixed rate savings account. They offer protection against interest rate changes for a specified term, but access to funds will be restricted until maturity. The interest earned on a fixed rate bond may be subject to income tax, depending on your personal circumstances, including your Personal Savings Allowance. 

Both easy access and fixed rate cash ISAs allow you to earn tax-free interest on your savings. The key difference is how easily you can access your money.

An easy access cash ISA lets you deposit and withdraw money whenever you like, making it a better choice if you want quick access to your savings.

A fixed rate cash ISA, on the other hand, offers a guaranteed interest rate for a set term. Fixed rate cash ISAs could be suitable if you want predictable growth and don’t need immediate access to your savings.

A fixed rate cash ISA is a tax-free savings account where your money earns a guaranteed interest rate for a set term, allowing your savings to grow predictably without paying income tax on the interest. At Shawbrook, interest can be paid monthly or annually, either added to your savings so you can earn interest on your interest or paid out directly.

Like all ISAs, fixed rate cash ISAs are subject to the annual ISA allowance, which is set by the Government each tax year. This means you can only deposit up to the annual limit across all your ISAs combined. Separate to the annual ISA allowance, you can also transfer in money from other ISAs, up to the maximum account balance.

At Shawbrook, you can make withdrawals before the term ends, but this can result in a loss of interest, known as an early exit charge. Our Fixed Rate Cash ISAs have a minimum balance of £1,000 and a maximum balance of £250,000. You need to fund your account within 90 days of opening, otherwise we’ll close your account.  

A fixed rate cash ISA offers tax-free savings and a guaranteed interest rate for the duration of the term, helping you to predict your savings growth.

Your money is put away for the duration of the term, so you won’t have immediate access to your savings. Some providers may allow early withdrawals, but this can reduce the interest you’ve earned. At Shawbrook, this is applied as an early exit charge, though rules vary between providers.

Looking for more flexibility? We also offer Easy Access Savings Accounts  and Notice Savings Accounts.

Yes, Shawbrook Fixed Rate Cash ISAs are FSCS protected, up to £120,000 per person across all your Shawbrook accounts combined. ISA stands for Individual Savings Account, which means it can only be opened in one person’s name. Because of this, ISAs are not eligible for the higher £240,000 protection limit that applies to joint accounts. Your savings remain tax-free, with a fixed interest rate that provides predictable growth over the term. You can withdraw funds before maturity, but this may result in a loss of interest. Your eligible savings are protected up to the FSCS limit.  

You can hold more than one fixed rate cash ISA, and it’s possible to pay into multiple Cash ISAs in the same tax year, as long as your total contributions stay within the annual ISA allowance for the current tax year. For example, you could save across multiple Cash ISAs, or split your savings between Cash ISAs and Stocks & Shares ISAs.

You can open more than one ISA with Shawbrook in the same tax year. However, you cannot use your annual ISA allowance across more than one Shawbrook Cash ISA in the same tax year. You can still transfer money from other ISAs into a Shawbrook Cash ISA, and these transfers do not count towards your current year’s ISA allowance.  

Yes. UK ISA rules let you hold both a Cash ISA and a Fixed Rate Cash ISA, provided you stay within your annual ISA allowance. A Cash ISA can be a standard easy access cash ISA, giving you flexibility to withdraw funds, while a fixed rate cash ISA locks your money away for a set term in return for a fixed rate of interest. At Shawbrook, you can open more than one Cash ISA, but you cannot split your annual allowance across multiple Shawbrook Cash ISAs in the same tax year. You can still divide your allowance across different ISA types or providers.

When a fixed rate cash ISA matures, your fixed term ends and you can choose what to do with your savings. Most providers let you:

• Reinvest into a new fixed rate cash ISA to continue earning interest,
• Withdraw your funds tax-free, or
• Transfer your ISA to another provider.

With Shawbrook, at maturity you can:  

• Withdraw your balance,
• Transfer it into a new Shawbrook ISA   (subject to account terms), or
• Transfer part or all of your ISA to another provider. If your account matures in the same tax year as your deposits, the full balance for that tax year must be transferred.  

If you don’t provide instructions, your funds automatically move into a Cash ISA Matured Funds account, earning a variable interest rate confirmed in writing.

You should check your key product information, and for helpful guidance you can view details on closing or maturing your account.

Yes, with some providers you may be able transfer a fixed rate cash ISA before it matures, but doing so may incur a fee or result in a loss of interest, depending on the terms of the account.

With Shawbrook, you can withdraw funds or transfer your Shawbrook fixed rate cash ISA to another provider before maturity, subject to the early exit charge.

Refer to your key product information for details about your account.

The Annual ISA Allowance is a government-set limit for how much you can pay into ISAs each tax year, so you can earn tax-free interest on your savings. For the current tax year, the total allowance is £20,000. You can divide your allowance across multiple accounts with different providers. The allowance renews on the 6 April each year, and does not carry over.

You can also transfer funds from other ISAs beyond this limit.

At Shawbrook, you can open more than one Cash ISA, but you cannot spread your £20,000 allowance across more than one Shawbrook Cash ISA in the same tax year. 

There is a difference between withdrawing and transferring. If you withdraw money from an ISA into a non-ISA, before then placing it into another ISA, the money will lose its tax-free status.

In addition, if the money was deposited in the same tax-year, it may reduce how much money you can pay back into an ISA during that tax-year given the Annual ISA Allowance of £20,000.

Transferring from one ISA to another ISA ensures you maintain ISA tax-free status benefits.  

Flexible ISAs are the exception. A flexible ISA allows the withdrawal and replacement of money during the same tax year, without affecting your Annual ISA allowance year. Shawbrook does not offer flexible ISAs. 

Please consider your individual circumstances, and if it would be best to undertake the ISA transfer process to ensure your money maintains its tax-free status.  

For more information, visit our pages below:
•    Depositing and withdrawing money
•    2025/26 Cash ISA Allowance 

Transferring an ISA is a straightforward process, provided you follow the correct steps to maintain your tax-free benefits. Before proceeding with the transfer, you may find it helpful to see our guidance on the differences between withdrawing and transferring an ISA.

Transferring an ISA from another provider to a Shawbrook ISA
To transfer an existing ISA from another provider to a new Shawbrook ISA you will need complete the online ISA application form. If your provider is not part of the Electronic Transfer Scheme, a separate form is required for a manual transfer. 

As part of your application process, we will capture the details of your current ISA. We will then work with your existing ISA provider to complete the transfer for you, and you'll keep your ISA tax-free status benefits.

At Shawbrook, we accept transfers from Cash ISAs or Stocks and Shares ISAs. Cash ISA transfers typically take 4 to 5 working days but can take up to 15 working days. Stocks and Shares ISA can take up to 30 calendar days. Transfer requests received after your initial account application may be refused.

Transferring from one Shawbrook ISA to another Shawbrook ISA   
To transfer your Shawbrook ISA to another Shawbrook ISA please contact our friendly Savings Team by phone, or log in and send us a secure message and we will complete the transfer. Transfer requests received after your new account application may be refused.

Transferring a Shawbrook ISA to another provider  
If you want to transfer your Shawbrook ISA to a new provider, you need to follow their process for transferring ISAs to them. The information your new ISA provider asks for may vary, but in general you will need to provide a sort code and account number of your Shawbrook ISA.   

Your account number - You can find your account number by logging in to your account. Your account number is displayed on the home screen next to your account name. 

Your sort code - Our sort code is 16-58-73. This is the same sort code used on all Shawbrook savings accounts.    

Other references - Your new provider may ask you for information like a roll number or reference number. We don't use roll numbers or reference numbers, so you can leave this blank if your new provider asks for it.    

What happens next  
Your new provider will manage the transfer, confirm next steps and let you know if they have any questions. They'll also confirm when the transfer is complete.  

Partial Transfers 
You can make partial transfers of funds that were deposited in previous tax years. Funds deposited in the current tax year must be transferred in full. If your ISA contains both current and previous year contributions, you will need to transfer the current year’s funds in full, but you can leave previous year funds in your Shawbrook ISA or transfer them separately.

For detailed step-by-step instructions, visit our guide on how to transfer an ISA. 

The below list details the ISA providers who can transfer your ISA to us online.