Best fixed rate cash ISAs – earn up to 4.51%

ISAs are some of the best savings vehicles you can use in the UK as they allow for up to £20,000 of tax-free savings a year.

However, speculation about changes to ISA rules have made headlines recently, after chancellor Rachel Reeves was lobbied to reduce the maximum annual limit to £4,000 for cash ISAs.

Even if this policy were to be imposed, it would not detract from the fact that putting your money into an ISA can be one of the most tax-efficient ways to save your money.

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With the Bank of England expected to slash interest rates two more times this year, it could be a good idea to secure favourable rates now by locking your savings away into a fixed rate ISA.

However, before putting savings into a fixed rate ISA, you should make sure that you’re getting a good deal on your interest rate and make sure it is above inflation, otherwise you’ll be losing money in real terms.

If you're seeking the best cash ISA with a fixed rate, we list the top options currently on the market.

Best 1 year fixed rate ISAs

If you’re willing to lock away your money for one year without withdrawing any of it, you could grow your savings by up to 4.51%.

Best up to 18 month fixed rate ISAs

If you are after an account that keeps your money growing for up to 18 months, then you can earn up to 4.25% using one of the following savers.

However, if you are willing to lock your money away for an extra six months then you could potentially gain access to a higher interest rate of 4.42% by using a two year fixed rate ISA.

Best 2 year fixed rate ISAs

Two year fixed rate ISAs are a good option for people who want to grow their money in the medium-term without worrying about micro-managing their savings.

Right now, you can use a two year fixed rate account to grow your money by up to 4.42%.

Best 3 year fixed rate ISAs

Savers who are willing to lock their cash away for three years can access interest rates of up to 4.43% by using one of the following savings accounts.

Best 4 year fixed rate ISAs

If you’re putting away your money for four years, then you can get up to 4.05% returns using one of the following accounts.

However, it is worth bearing in mind that if you are willing to keep your money in savings for an extra year then you can gain access to a higher interest rate of 4.31%.

Best 5 year fixed rate ISAs

A five year fixed rate ISA is a good option for long-term savers who are trying to save towards a financial goal in the future.

The following accounts allow for up to 4.31% returns on your savings.