fixed rate cash isa: Tax-Efficient savings with a guaranteed rate
Earn a guaranteed fixed rate of tax-free interest for the duration of the term.
Eligibility criteria and conditions apply. You'll need to be 18 or older, UK resident and have a Coutts Current Account. You can only subscribe to one Fixed Rate Cash ISA with Coutts in any tax year up to £20,000. Withdrawals are permitted but will be subject to an early closure fee. Offer may be withdrawn early due to limited availability. Open for applications between 6 and 30 April 2025. Available in sterling only. Interest is calculated daily and paid at maturity. £1 minimum deposit. Subject to ISA limits and restrictions.
Why choose our fixed rate Cash ISA?
- Save up to £20,000 in the 2025/2026 tax year and pay no tax on any interest earned
- Fix your rate of interest for the duration of the tax year
- As long as your current year's ISA contributions are within the £20,000 allowance, you can transfer in previous years' ISAs from other providers, with no maximum limit
- While withdrawals are permitted before the end of the fixed term, these will be subject to an early closure fee
- We also offer a Cash ISA and a Stocks and Shares ISA
Fixed rate cash ISA: Summary Box
What is the interest rate?
Balance |
AER P.A. (fixed) |
Tax Free P.A. (fixed) |
|---|---|---|
£1+ |
4.58% |
4.50% |
- Interest is calculated daily. We pay interest on a Fixed Rate Cash ISA at maturity.
- Interest rate is fixed. This means we can’t change the interest rate.
can coutts change the interest rate?
No, the interest rate is fixed for the tax year, 6 April to 5 April (or the last working day of the tax year). This means that the rate will not change between the date you open your account and the Maturity Date.
What would the estimated balance be at maturity date based on a £10,000 deposit?
- your account has been open and funded on 6 April
- The funds remain in the account until maturity on the 5 April (or the last working day of the tax year) the following year
- No further deposits or withdrawals are made.
Deposit Amount |
Balance at maturity |
£10,000 |
£10,457.66 |
Definitions
Annual Equivalent Rate (AER) |
This is a notional rate used for interest bearing accounts, which illustrates the interest rate if paid and compounded each year. It helps you to compare the effective rates of credit interest on different accounts. |
|---|---|
Gross Rate |
The interest rate without the deduction of income tax (where applicable). Interest will be paid gross. |
PA |
Per annum (per year)
|
How do I open and manage my account?
Eligibility
You must:
- be aged 18 years or over and resident in the UK for tax purposes;
- not to have subscribed to another Fixed Rate Cash ISA with us;
- not have subscribed, and will not subscribe, to more than the overall ISA subscription limit total in the same tax year; and
- hold the account solely in your name.
This account is only available to you if you hold a Current Account. The Fixed Rate Cash ISA allows you to subscribe up to £20,000 in the current tax year, which runs from 6 April to 5 April (or the last working day of the tax year) the following year with a £1 minimum balance.
You can open your account:
- By contacting your private banker
- Via our digital services
You can manage your account:
- Via our digital services
- By contacting your private banker
- By contacting Coutts 24
For more information, please see the Fixed Rate Cash ISA Terms.
Funding your fixed rate cash isa
There are three ways to subscribe to your new Fixed Rate Cash ISA. These are detailed below and you can confirm at the end of the application which option you would like to take.
Fund your ISA by the 30 April or the last business day in April.
Transfer from a Coutts Current Account
If this is a new ISA (and you haven’t used this years ISA subscription allowance) then you can fund the account up to £20,000 via an inter account transfer.
Transfer from an external provider
There is no maximum limit provided your total current year subscriptions are within the £20,000 ISA allowance. Full transfers only.
Transfer from your Coutts Current Account and an ISA from another provider
This allows the opportunity to combine a transfer request of an existing ISA and tofund this year’s ISA allowance from your Coutts Current Account.
Can I withdraw money?
You can withdraw money from your account (by contacting your private banker) during the cancellation period. Partial withdrawals are not permitted.
If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice. An Early Closure Charge will apply, except in the event of your death.
The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest.
The Early Closure Charge will be deducted from the balance of your Fixed Rate Cash ISA. The total amount you receive (including interest earned on your balance) will be no less than your deposit at the Start Date.
For more information, please see the Fixed Rate Cash ISA Terms.
What happens at maturity?
On the Maturity Date, we’ll automatically convert and move your funds to a flexible Cash ISA. You will then have several options:
Option 1 – open a new Fixed Rate Cash ISA.
You can open a new Fixed Rate Cash ISA from 6 April until 30 April. You can find our latest rates on our website or in the mobile app, as well as information on how to open one. You can move your funds from your Cash ISA by choosing the option to transfer your existing ISA to your new Fixed Rate Cash ISA. That way, your savings will stay tax free.
Option 2 – leave your money in your Cash ISA.
To keep your money in your Cash ISA, you don't need to do anything. You can access your savings whenever you want. Just so you know, the interest rate is variable so the amount of interest you'll earn can go up or down. You can always find the latest rates by checking our website or in the app.
Option 3 – move your ISA to another provider.
If you want to move your savings from your ISA account to another provider’s ISA, it's important to go through an ISA transfer process to maintain your tax-free allowance. Your new provider will help you with this. That way, your savings will stay tax free.
additional information
The Fixed Rate Cash ISA is a tax-free savings account.
Tax-free interest means that interest payable on Fixed Rate Cash ISAs is exempt from UK Income Tax. The tax treatment may be subject to change in the future and depends on your individual circumstances.
If you are unsure of your tax obligations, we strongly recommend you obtain independent tax advice.
Frequently Asked Questions
important documents
Before you apply, please read the important legal documents below as well as our Privacy Notice, which explains how your information might be used.
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.
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not a coutts client?
If you're not already a Coutts client talk to us about how you can take advantage of our wealth management expertise.
Get in touch online or call Coutts 24 on +44 (0)20 7753 1365
Financial Services Compensation Scheme
Your eligible cash deposits held with Coutts & Co are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered. Investment business undertaken with Coutts & Co in the UK may be covered by the FSCS, the cover depending on the nature of the claim being made. Eligible claims for most types of investment business are covered up to a maximum of £85,000 per person. FSCS cover is not available for loss of money resulting from performance of the investment.
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