What are fixed rate Cash ISAs?
Cash ISAs are tax-free savings accounts. They can be set up to hold fixed rate products. In return for locking up your cash for a set amount of time, you’ll receive a predetermined tax-free interest for that period.
Term lengths vary and can go up to several years.
You can pay in your full £20,000 ISA allowance into a Cash ISA each tax year (or spread it across other ISAs).
If you decide to withdraw your money from the account, before the term ends, you may have to pay an exit fee. Tax rules change and any benefits depend on individual circumstances.
How fixed rates work with the HL Cash ISA
With most banks you have to open separate fixed rate Cash ISA accounts, then manage them individually.
With HL, you open one Cash ISA account, and then access fixed rates from multiple banks.
It’s the same ISA rules, same tax benefits, just much easier to stay on top of.
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See everything in one place
By accessing multiple banks through one account, you can switch your savings when your needs change, without opening new accounts. -
Get more choice
Hold as many fixed rate savings as you like on a wide range of terms. Plus, easy access savings. -
We’ll be here to help
Our specialised helpdesk are always here to help with your savings questions, or any other questions about your HL account.
What does AER and tax-free mean?
AER (Annual Equivalent Rate)
Shows what the interest rate/expected profit rate would be if it was paid and compounded once each year. It helps you compare the rates on different savings products.
Tax-free
Tax-free interest/profit in the Cash ISA is paid free of UK income tax. Tax rules can change and their benefits depend on your circumstances.
Expected profit rate
Islamic banks offer an expected profit rate, rather than interest on their savings products, in order to comply with Sharia banking principles. They are authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Any eligible deposits up to £85,000 are covered under the FSCS. More about Sharia banking.
Saving into fixed rate products through the HL Cash ISA
When picking which fixed rate savings products to put your money into, make sure you are choosing the right length for your savings goals.
When you open your product, you usually won’t be able to top it up later, so you could think about having a savings strategy in place to make sure your savings are working in the best way for your circumstances.
We suggest keeping at least three to six months’ worth of essential expenditure in an easily accessible account. Or one to three years’ worth if you’re not working (such as in retirement).
How is my money protected?
FSCS protection: Money held in a savings product with one of our banking partners has Financial Services Compensation Scheme (FSCS) protection up to £85,000.
Fully regulated: Our banking partners are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority.
Safeguarding: Money in the Cash ISA which isn't in a savings product is held in the transaction account. As Hargreaves Lansdown Savings Ltd is not a bank, money in the transaction account is not covered by the FSCS. Instead, it's protected under the Financial Conduct Authority's safeguarding rules.
Account security: Alongside your usual log in details and account encryption technology, we use two-factor authentication with automatic timeouts to help protect you and your money.
Cash ISA charges
We don't charge you directly to have a Cash ISA, instead we charge our banking partners. This means the same or similar products offered directly by the banks and building societies may have different interest rates to those available through the HL Cash ISA.
Cash ISA transfers
You can transfer money between your HL Cash ISA and HL Stocks and Shares ISA via your account online. Currently, you cannot transfer ISAs from another provider directly to the HL Cash ISA. But you can transfer to the HL Stocks and Shares ISA first, and then transfer into the HL Cash ISA.
Ready to open an account?
Open an HL Cash ISA, pick your rate and watch your savings grow.
This website is issued by Hargreaves Lansdown Asset Management Limited (company number 1896481), which is authorised and regulated by the Financial Conduct Authority with firm reference 115248.
The Active Savings service is provided by Hargreaves Lansdown Savings Limited (company number 8355960). Hargreaves Lansdown Savings Limited is authorised and regulated by the Financial Conduct Authority (firm reference number 915119). Hargreaves Lansdown Savings Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 with firm reference 901007 for the issuing of electronic money.
Hargreaves Lansdown Asset Management Limited and Hargreaves Lansdown Savings Limited are subsidiaries of Hargreaves Lansdown plc (company number 2122142).