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A Fixed Rate Cash ISA is a tax-free individual savings account, which means you won’t pay any tax on the interest that you earn.
You can save up to £20,000 into one Cash ISA in a tax year. With an OakNorth Fixed Rate Cash ISA, you’ll earn a set interest rate throughout, so you’ll know what your returns are upfront – and they won’t change.
Enjoy tax-free growth on your interest. Save up to £20,000 in any one tax year.
No teaser rates, no gimmicks. Just fixed interest that rewards your goals.
Start saving from as little as £1. Pick the term that works for you — 12, 24 or 36 months.
Loyalty bonus rates of up to 0.20% extra for reinvesting Fixed Rate Cash ISA Customers can be found here.
Term
AER
Min. deposit
Withdrawals
The Financial Conduct Authority (FCA) is a financial services regulator. It requires OakNorth Bank to give you this important information to help you decide whether our Personal Fixed Rate Cash ISAs are right for you. You should read this document carefully, together with the General Terms & Conditions and Specific Terms & Conditions for our Personal Cash ISAs, so you understand what you are buying, and keep it safe for future reference.
You should scroll down and read all information below carefully before you apply.
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| Term/Product | Gross rate (%) | AER (%) | |
|---|---|---|---|
| 12 months | 4.31 | 4.40 |
Your savings account will start generating interest no later than one business day from when we receive and apply your first deposit to your savings account.
Interest will be calculated on the minimum daily balance and applied monthly to your OakNorth Cash ISA.
No. The interest rate is fixed during the term.
| Term/Product | Initial Deposit at account opening | Balance after maturity |
|---|---|---|
| 12 months | £1,000 | £1,044.00 |
*These are only examples for illustrative purposes and do not take into account your individual circumstances.
These estimates assume that no further withdrawals are made, the account remains open during the selected term, that the interest is accrued daily and applied to the account monthly and that any interest earned stays in the account.
Our accounts are available to individuals, aged 18 or over, who are UK residents (i.e. England, Wales, Northern Ireland and Scotland). Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.
Applications to open an account must be completed through our website here or via the OakNorth mobile banking app. Please note, in case of transfers from another ISA provider, the applications must be completed through our website.
The minimum amount required for the account to remain open is £1. The maximum deposit for this account is the current tax year allowance for ISAs set by HM Revenue & Customs, which for the tax year 2026/27 is £20,000. In addition, or alternatively, you may transfer existing Cash ISAs from other providers into this account. We’re only able to accept electronic Cash ISA transfers from the ISA providers listed in our online application. These limits are subject to HM Revenue & Customs rules.
You can transfer Cash ISA balances from the current tax year as well as previous tax years. Please note, if you have already contributed to your Cash ISA in the current tax year and would like to transfer from the current tax year’s allowance, you must transfer the full amount. The maximum amount (excluding interest) that you may hold on deposit with us across all types of accounts is £500,000.
Upon account approval, you will have 30 calendar days to fund your account via a new deposit and/or Cash ISA transfer, otherwise your account will expire and be closed.
Once you activate online banking, your account can be managed by logging into the OakNorth mobile banking app or the ‘My Account’ section of our website. Alternatively, you can contact us by email, by phone, or by writing to us. Please refer to our website for our contact details.
Yes, but early withdrawals are subject to a charge depending on your chosen term. You can withdraw funds to your linked account or request an ISA transfer through your new provider.
If you withdraw or transfer before the term ends, the following charges apply:
| ISA Deposit Term | Early Withdrawal Charge | |
|---|---|---|
|
12 Months |
90 days of interest on the amount withdrawn |
|
|
24 Months |
180 days of interest on the amount withdrawn |
|
|
36 Months |
270 days of interest on the amount withdrawn |
Withdrawal charges are deducted from your account balance at the time of withdrawal, which means you may get back less than you originally deposited.
Withdrawals can be made via the OakNorth web platform or app, or by contacting us via email or phone.
You can close or transfer your account at the end of the fixed term without penalty.
Please note that this is not a flexible ISA – any funds you withdraw can’t be replaced.
We’ll contact you at least 14 days before your maturity date to outline your options. Your maturity instructions will need to be provided by you logging into the web platform or app.
The options provided will allow you to:
a) Withdraw all or part of your account balance to your linked bank account
b) Reinvest all or part of your account balance into new OakNorth Savings product available at the time
c) transfer your full Cash ISA balance to another ISA provider (in this case, you will need to give transfer instructions to the new ISA provider, who will forward the request to us on your behalf).
Please refer to your maturity reminder emails for further information on your available options and how to provide your instructions.
If no instructions are received, the total balance – including interest – will be automatically transferred into an OakNorth Easy Access Cash ISA. For current rates, see our website.
Interest is tax-free and doesn’t count towards your Personal Savings Allowance.
The AER (Annual Equivalent Rate) illustrates what the interest rate would be if interest was paid and compounded once a year.
The treatment of your account for tax purposes will depend on your individual circumstances. All tax information is based on our understanding of current law and HM Revenue & Customs practice, both of which may change. For more information visit www.hmrc.gov.uk.
Please note: The information provided in the Summary Box, is a summary of the key features of our Fixed Rate Cash ISAs. It should not be used as a substitute for our Terms and Conditions which can be found on our website.
**Early withdrawal charges apply
Use our calculator to find out how much interest you could earn and what your savings might be worth at the end of your term.*
A Fixed Rate Cash ISA works similarly to a Fixed Term account — your money is locked away for an agreed period, but you can still access it if needed. Just keep in mind that withdrawing early comes with a penalty.
If you withdraw before the end of your term, you’ll lose 90 days’ interest on a 12-month term, 180 days’ interest on a 24-month term or 270 days’ interest on a 36-month term. So it’s important to choose a term that suits your needs and access preferences.
Pick your term
Choose the Fixed Rate Cash ISA that works for you — available in 12, 24, or 36-month terms.
Apply online or in the app
Fill in a quick application on our website or via the OakNorth app with just a few personal details.
Fund your ISA
Start earning tax-free interest. Remember, early withdrawals reduce the interest earned.
Watch your savings grow with a return that makes a difference.
No paperwork, no phone calls — just a few taps to start saving.
Track your savings from the app or your online account and stay in control.
FSCS-protected up to £120,000. Your savings are in safe hands.
If you’re over 18 years old and you’re a resident of the UK – i.e. you have a permanent UK address that you’ve had for over three years – then you’re eligible for an OakNorth fixed rate cash ISA. You’ll also need to have a personal UK bank or building society account to transfer funds into your account.
ISAs are individual savings, so we don’t offer joint ISA products.
No, your interest rate will remain the same throughout the duration of your fixed term ISA.
*This calculator provides an illustrative estimate of how your savings could grow over time based on the information you enter. The estimate assumes that the interest rate does not change during the period, that any contributions are made on the [1st of the month] and no withdrawals are made. The estimate does not account for tax, fees, or future rate changes. Actual returns may vary depending on your account type, deposit amount, term, and tax status. This information does not constitute financial advice or a recommendation, and OakNorth Bank accepts no responsibility for any losses arising from reliance on these calculations. For products with a funding window, additional contributions may not be applicable once that window has closed.
