Fixed rate ISAs can offer higher returns on your savings, based on a fixed term of 1 to 5 years and not making withdrawals during the term.
By locking in your money for a longer period and avoiding withdrawals, you have access to rates as high as 1.7% AER, and up to £85,000 it is backed up by The Financial Services Compensation Scheme. If you need easy access or to withdraw money at any time, you will typically incur a penalty or lose a little bit of interest.
To get started today, you can open a fixed rate ISA from as little as £1, and you can earn the highest rates with products that have a minimum contribution of £500 or £1,000.
My Financial Broker offers a simple way to compare fixed rate ISAs and you can usually deposit money and starting saving on the same day you apply.