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Fixed Rate ISA

For tax-free, peace-of-mind saving over 1 or 2 year terms.

Why choose a Fixed Rate ISA?

Get peace of mind knowing in advance what your savings will earn.
Interest is paid directly into your account to help your tax-free savings grow faster.
Earn 4.20% AER / Tax-free p.a. (fixed) with a 1 year fixed term. Term end date - 07 January 2027.
Earn 4.00% AER / Tax-free p.a. (fixed) with a 2 year fixed term. Term end date - 07 January 2028.

Available until 16 December 2025. Please note that these issues may be withdrawn early due to limited availability. Early closure fees may apply. To apply, you must be a UK resident aged 18+. You can only subscribe to one cash ISA with Royal Bank in any tax year up to £20,000.

Your ISA updates simplified

Understand how changes announced in the Autumn Budget impact future ISA limits. View details.

Summary Box: Fixed Rate ISA

1. What is the interest rate?

1 year issue 386	AER/Tax-free p.a. (fixed)
Balance
£1,000+	4.20%

2 year issue 387	AER/Tax-free p.a. (fixed)
Balance
£1,000+	4.00%

Interest is paid on a tiered basis at these fixed rates from the date you open your account until the Maturity Date. This means you'll earn one rate on your entire balance.

Interest is calculated daily and paid annually to your ISA on the first business day in April and on the Maturity Payment Date.

2. Can Royal Bank of Scotland change the interest rate?

No, the interest rate is fixed. This means that the rate will not change between the date you open your account and the Maturity Date.

3. What would the estimated balance be at maturity based on a range of deposits?

	Deposit at fixed term start date	Balance at maturity
1 year (issue 386)	£1,000	£1,042.00
1 year (issue 386)	£20,000	£20,840.00
2 year (issue 387)	£1,000	£1,081.60
2 year (issue 387)	£20,000	£21,632.00

4. How do I open and manage my account?

Eligibility

You must:

Not have subscribed to another cash ISA with us or have subscribed to more than the overall subscription limit in total to a cash ISA, a stocks and shares ISA, an innovative finance ISA and or a lifetime ISA in the same tax year.
Hold the account solely in your name.

You can open and manage your account on our mobile app, online or by telephone.

To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.

We will need your email address and mobile number to open your account.

You can make payments in branch and by telephone. We will send you a certificate of deposit within 14 days of the Start Date.

Balance and ISA allowance

Your deposit must reach your account by 06 January 2026. You must deposit at least £1,000 (the “Minimum deposit”) by this date. There is no Maximum deposit and no maximum balance; however, there is a limit on the amount you can pay into your account each tax year (“ISA allowance”). This limit is set by the Government and may change from time to time. The ISA allowance is £20,000 for the current tax year.

If you pay in more than the limit any excess money will be returned to you.

If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA with us.

Key Dates	Key Dates
Closing date to open your account	16 December 2025
Last date for receipt by us of external ISA transfer requests	17 December 2025
Last date for receipt of Royal Bank internal ISA transfer requests	02 January 2026
Last date to make payments or withdrawals	06 January 2026
Start Date	07 January 2026

	1 year	2 year
Maturity Date	07 January 2027	07 January 2028
Maturity Payment Date	08 January 2027	08 January 2028

5. Can I withdraw money?

You can withdraw money from your account (in branch or by telephone) until 06 January 2026 at 3.30pm. Partial withdrawals are not permitted after this time.

If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice to your branch. 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 ISA.

The total amount you receive (including interest earned on your balance) will be no less than your deposit at the Start Date. For example, if you have earned 50 days’ interest you will only be charged an Early Closure Charge equivalent to 50 days’ interest. If you have earned 100 days’ interest you will only be charged an Early Closure Charge equivalent to 90 days’ interest.

For more information on closing, please see the Fixed Rate ISA Terms (Term 8).

Transferring your ISA

You can transfer your ISA to another ISA manager. If the transfer is before the Maturity Date, we’ll convert your ISA to an Instant Access ISA and an Early Closure Charge will apply. If you want to transfer your ISA without incurring an Early Closure Charge the transfer must be dated at least the day after the Maturity Date, when your money is accessible.

Maturity of your ISA

On the Maturity Date (or if the Maturity Date is not a business day the next business day), we’ll convert your account to an Instant Access ISA. You’ll be able to access your money on the Maturity Payment Date. Please see Term 5 of the Fixed rate ISA for more information.

6. Additional Information

Annual Equivalent Rate (AER) shows the interest rate if interest is paid and compounded once each year. AER helps you to compare the rates of interest on different accounts.

Compound interest is interest that is earned on interest that’s already been paid.

Gross means the interest rate you are paid on your savings with no compounding.

p.a. per annum (per year).

Tax-free. We pay all savings interest without the deduction of tax. You do not pay any UK tax on interest earned in ISAs. You may have to pay tax on interest earned in non-ISA accounts depending on your Personal Savings Allowance. The tax treatment may be subject to change in the future.

Important Information

Please take some time to review, print and/or save the important information.

Fixed Rate ISA Information Sheet (PDF, 1.6MB) (for tax year 25/26)

Fixed Rate ISA Terms (PDF, 196KB)

FSCS Information Sheet and Exclusions List (PDF, 40KB)

Cash ISA Key Features (PDF, 43KB)

It's important for you to understand how we use and share your information. Please read this short summary before you continue with your application.

As part of the checks that we will complete to verify your identity, we’ll take an image of your face so that it can be compared with your photo ID and this biometric data is captured.

By continuing you're confirming you've been provided with, and have acknowledged our important documents, including the FSCS information sheet.

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