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Fixed Rate Cash ISA

With a fixed rate cash ISA, you can put your money away for a set amount of time, you can be confident that you've secured an account that will offer a fixed return on your investment whilst benefitting from your £20,000 tax-free annual ISA allowance. 

What's a fixed rate cash ISA?

It's a straightforward savings account where your money earns interest at a set rate for a fixed period of time, typically ranging from 1 to 5 years. Unlike variable rate ISAs, where interest rates can change, fixed rate ISAs offer predictability and stability, allowing you to plan your finances with confidence. No surprises, just consistent growth.

How does a fixed rate ISA differ from a regular savings account?

While both accounts offer interest on your savings, a fixed rate ISA locks in your interest rate for a predetermined period, providing stability and potentially higher returns compared to regular savings accounts, which may offer variable interest rates. The interest paid into fixed rate ISAs will be tax-free, meaning you won't pay a penny tax on the first £20,000 of your savings during the current tax year. 

The highlights

  • Users UK residents aged 18 or over
  • Mouse Pointer Open online with £500 today
  • Piggy Bank Save up to £20,000 for current tax year
  • Shield Check Earn interest tax-free
  • Sack Fixed return on your investment
  • Exchange Full transfers of existing ISA savings accepted
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Unlock higher rates

By fixing your money, you can often unlock higher interest rates. While you won’t be able to access the money during the term, it could be the incentive you need to leave your savings pot untouched.

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Don't pay a penny of tax

Like other ISAs, fixed rate cash ISA are a tax-free savings account. Save up to £20,000 each tax year and you won’t have to pay tax on the interest you earn.

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One fixed rate

Once you open your fixed rate ISA, the interest rate will stay the same for the term of your account. That might be just one year, or up to five. The choice is yours.

Choose an account

You can open a savings account through the Beehive Money app. All of our ISAs are just for UK residents; we pay interest annually; and how often (and how much) you can withdraw depends on the account. Bear in mind too that any of our products can be withdrawn at any time.

You should regularly review any savings you have. See our range of accounts below, compare interest rates and find the right product for your goals.

Need help deciding? Choose how much you’re likely to deposit to see the estimated total interest you could earn in 12 months. We’ve calculated it using the AER (Annual Equivalent Rate), assuming you’ll put in the amount you’ve chosen on the day that account launches. This gives you an idea of how much interest you might earn, based on your deposit.

Choose Account Rounded

Use the calculator below to get an idea of how much you could save, and the interest you could earn:

One Year Fixed ISA Issue 3

4.80%
  • - Fixed term until 31/08/2025
  • - UK residents aged 18 or over
  • - Open online with £500
  • - Earn annual interest
  • - Fixed return on your investment
  • - No access to funds until term ends
  • - Transfers out allowed subject to 90 days’ interest charge
  • - Current & previous years’ transfers in are allowed in full only
Including your interest,
you could save
 

Two Year Fixed ISA Issue 3

4.70%
  • - Fixed term until 31/07/2026
  • - UK residents aged 18 or over
  • - Open online with £500
  • - Earn annual interest
  • - Fixed return on your investment
  • - No access to funds until term ends
  • - Transfers out allowed subject to 180 days’ interest charge
  • - Current & previous years’ transfers in are allowed in full only
Including your interest,
you could save
 

Three Year Fixed ISA Issue 3

4.50%
  • - Fixed term until 31/07/2027
  • - UK residents aged 18 or over
  • - Open online with £500
  • - Earn annual interest
  • - Fixed return on your investment
  • - No access to funds until term ends
  • - Transfers out allowed subject to 270 days’ interest charge
  • - Current & previous years’ transfers in are allowed in full only
Including your interest,
you could save
 

Five Year Fixed ISA Issue 4

4.25%
  • - Fixed term until 31/07/2029
  • - UK residents aged 18 or over
  • - Open online with £500
  • - Earn annual interest
  • - Fixed return on your investment
  • - No access to funds until term ends
  • - Transfers out allowed subject to 365 days’ interest charge
  • - Current & previous years’ transfers in are allowed in full only
Including your interest,
you could save
 

For ISAs
*We will pay your interest free of UK income tax. Your tax treatment will depend on your individual circumstances and may be subject to change in the future. The tax treatment of ISAs may also change. AER stands for Annual Equivalent Rate. It shows what the interest rate would be if the interest was reinvested in the account each year. Interest rates are variable unless otherwise stated.

Things to know
Your gross rate is the amount of interest you’ll earn each year before tax. AER, or Annual Equivalent Rate, is designed to make savings accounts easier to compare. The AER will show you what your interest rate would be if interest was paid back into your account. For accounts that pay interest annually, the gross rate and the AER should be the same. For accounts that pay interest monthly the AER will be slightly higher than the gross rate. This is because if you leave your monthly interest in the account you’d start to earn interest on the interest.

These are just estimates and they’re for illustrative purposes only. Deposit examples may not reflect actual product deposit limits. We’ve based our calculations on the assumptions that the account is opened the day it’s made available; the interest rate doesn’t change; interest is paid straight into your account; and that you don’t put in any more money or take it out. So, if any of these things change, so will the amount of money you earn on your deposit.

Tax-free savings accounts (also known as Individual Savings Accounts or ISAs), are simple, really: with accounts like these you won’t have to pay tax on the interest you earn. There’s also a cap on how much you can add each tax year, depending on your circumstances, and keep in mind that the tax rules around ISAs could change

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Ready to get started?

Step 1

Get registered!

To join Beehive Money you can do this one of two ways. You can register on your desktop, or if you'd prefer you can install our app and follow the instructions on your screen.

Step 2

Take your pick of accounts

Once you have access to Beehive, choose the account that's right for you. We have a whole range available, such as fixed rates, easy access accounts, Cash ISAs and the Lifetime ISA.

Step 3

Set goals, achieve milestones

We know that you’re more likely to achieve your dream if you set goals. Our goal tracker and a helpful milestone will help motivate you to save for a brighter future.

Your savings are protected

Your savings will be protected up to a total of £85,000 by the Financial Services Compensation Scheme. There’s more about that here.

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Looking for something different?

Don’t sweat it, we have a range of accounts you can choose from. Check them out below.

Fixed rate

If you can put your money away for a set period in a fixed rate savings account, we'll pay you a fixed rate of interest. You can be rest assured that the interest rate will stay the same for the term of your account.

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All savings accounts

Not sure about which account you’re after? Whatever your goals and however you’d like to save, we have a range of accounts for almost everyone at Beehive.

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Easy access

Our easy access account is a flexible account with very few restrictions, which makes it a great choice for those who want to put away money but be able to access it at any time, without charges or penalties, and it’s never, ever 'locked' away.

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