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Fixed Rate ISA

Secure a fixed savings rate for 1 or 2 years

You must be a UK resident aged 18+. You can only subscribe to one cash ISA with Royal Bank of Scotland this tax year up to £20,000. Tax free interest means interest payable is exempt from UK income tax. Tax reliefs referred to are those applied under current UK legislation, which may change. 

Applications for this Fixed Rate ISA are available until 5pm on 07 October 2026 to new-to-bank customers and 12 October 2026 to existing customers. Please note that these offers may be withdrawn early due to limited availability. Early closure charges may apply. 

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Why choose a Fixed Rate ISA? Open in new window
Opening and managing Fixed Rate ISA's Open in new window
Summary Box Open in new window
Apply now Open in new window

Our savings account terms and conditions are changing from 01 October. Find out more.

Fixed Rate cash ISA interest rates

4.72% AER/Tax-free p.a. (fixed) on a 1 year term or 4.75% AER/Tax-free p.a. (fixed) 2 year term

  • Tax‑free savings – Keep all the interest you earn.
  • Guaranteed fixed rate – Know what your savings will earn.
  • Interest paid annually – Helping your savings grow year after year.

Fixed Rate cash ISA interest rates

4.72% AER/Tax-free p.a. (fixed) on a 1 year term or 4.75% AER/Tax-free p.a. (fixed) 2 year term

  • Tax‑free savings – Keep all the interest you earn.
  • Guaranteed fixed rate – Know what your savings will earn.
  • Interest paid annually – Helping your savings grow year after year.

Opening your Fixed Rate ISA 

Whether you are a new or existing customer, you can still open a Fixed Rate ISA with us. T&Cs apply.

Summary Box

Account name: Fixed Rate ISA

What is the interest rate?

Term

1 year issue 404
2 year issue 405

Balance

£1,000+
£1,000+

AER/Tax-free p.a. (fixed)

4.72%
4.75%
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.

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.

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

Term

1 year issue 404
1 year issue 404
2 year issue 405
2 year issue 405

Deposit at start date

£1,000
£20,000
£1,000
£20,000

Balance at maturity date

£1,047.20
£20,944.00
£1,097.26
£21,945.13

Interest earned

£47.20
£944.00
£97.26
£1,945.13
These are only examples and do not take into account your individual circumstances, or any interest earned prior to the Start Date.

Opening and managing your Fixed Rate cash ISA

There are a few requirements when opening a Royal Bank Fixed Rate ISA. First, you’ll need to:

  • Be 18 years old or over.
  • Be a UK resident.
  • Agree to hold the Fixed Rate ISA solely in your name.

Keep in mind: 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 & Shares ISA, an Innovative Finance ISA and or a Lifetime ISA in the same tax year. 

To open your account we'll need your email address and mobile number, you can get started:

  • On our mobile app
  • Online
  • By telephone (for existing customers only)
  • 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.

You can make payments through the Mobile app, Digital banking, in branch and by telephone. We will send you a certificate of deposit within 14 days of the term start date to your secure inbox or by post.

You can transfer an ISA by visiting our ISA transfer page.

Balance and ISA allowance

Your deposit must reach your account by 26 October 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 - New Customer
Closing date to open your account - Existing Customer
Last date for receipt by us of external ISA transfer requests
Last date for receipt by us of Royal Bank internal ISA transfer requests
Last date to make deposits or withdrawals for this offer
Start Date

07 October 2026
12 October 2026
13 October 2026
22 October 2026
26 October 2026
27 October 2026

Maturity Date
Maturity Payment Date

1 Year

27 October 2027
28 October 2027

2 Year

27 October 2028
28 October 2028

Accessing your savings

You can withdraw money from your account (in branch or by telephone) until 26 October 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).

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 Terms for more information.

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.

What happens when your fixed term ends?

Once your 1 year or 2 year Fixed Rate ISA reaches the end of its term, we’ll automatically change it into an Instant Access ISA. You then have a few options available including:

  • Opening a new Fixed Rate ISA – fix your savings so you know the amount of interest you’ll get paid and you can top up your balance when you open the account.
  • Keeping your money in your Instant Access  ISA – access to your savings whenever you want and pay money in and out as you go
  • Moving your ISA to another provider – you’ll need to follow the ISA transfer process when moving your money to  keep its tax-free status 
See your next options Open in new window

Additional information

The interest payable on the money held in your account is tax-free.The tax treatment may be subject to change in the future and depends on your individual circumstances.

Definitions

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.

Statements at your fingertips

We'll send you an email when your statements are ready to view in Digital Banking. You can check it whenever you want.

How do I get additional support with my banking?

Banking My Way is a free service that allows you to record information about the support or adjustments you need to make banking easier. You can also let us know any additional support you may need to ensure all of our colleagues are aware of this. The information will be shared on our internal systems and therefore you will not need to repeat these requirements every time you interact with us.

Once your account is open, you can record this through Digital Banking or with our colleagues in branches or over the phone.

Learn more about Banking My Way

Get ready to apply

Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.

First things first. Please take a look at the important legal info:

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.

How your information might be used

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.

 

All okay? You're nearly ready to start.

Please take your time to read the summary of information box and make sure this savings account is right for you.

Unsure? Compare our savings accounts

To speed up your application for our Fixed Rate ISA account, we need to do a few final checks with you. They'll only take a minute.

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Do we already know you?
If you have a current account, credit card, loan or savings account with Royal Bank please let us know.
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Great, let's get your application started.

  1. Tell us a bit about yourself and we’ll set up your account.
  2. We might need to verify your identity when you apply online. We’ll do this by matching your Photo ID to a selfie of you. You’ll need a device with a camera to upload these. We might also ask for other information like proof of address.  If you don’t have your ID to hand, you can finish this step later. 
  3. Our partner Mitek will then check your identity by matching you to your Photo ID. Your Photo ID must be a Passport, UK or EU/EEA Driving Licence or an EU/EEA National ID card. We might also ask for a valid proof of address. If you don't have your ID to hand you can finish this step later.
  4. Once they’ve confirmed your identity we’ll activate your account.

Remember, to apply for a Fixed Rate ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on.

 

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Do you have our Royal Bank app on a mobile device?
If you're registered for our app on a mobile device, we can pre-fill some of your info, making the application process faster.
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Great, let's get your application started.

Remember, to apply for a Fixed Rate ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on.

Using a desktop or have the app on another device?

Simply scan the QR code with your mobile or tablet device that has the Royal Bank app and we'll get you started.  

Can't scan the QR code?

Using your mobile or tablet device now?

If you're already using a device with the Royal Bank app, select the 'Start your application' button below.

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Do you use Digital Banking?
If you log in to Digital Banking we can pre-fill some of the application for you.
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Log in to Digital Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Digital Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.

Remember, to apply for a Fixed Rate ISA, you must: 

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 18 years old and a permanent UK resident, or a Crown Servant serving overseas, their spouse or civil partner.
  • Have a phone number and email address we can contact you on.
Previous
Log in now

Let’s get you registered for Digital Banking

You’ll need to sign up for Digital Banking with us in order to apply for a savings account. The good news is that it normally takes only 5 minutes and all you’ll need is your sort code, account number and your Royal Bank Debit Card, if you have one.

Once you’ve registered, select ‘Next’ to log in and apply for a Fixed Rate ISA account.

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Next

Log in to Digital Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Digital Banking pin and password.
  3. Once you're logged in, select 'Savings accounts' from the product list. 
  4. Finally, choose the account you want to apply for and complete your application.
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Log in now