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Fixed Rate Cash ISA

Fixed Rate Cash ISA

Our Fixed Rate Cash ISAs are an easy way to save your money with a guaranteed rate of return. Earn tax-free interest on your savings with a Sainsbury’s Bank Fixed Rate ISA.
Up to 3.80% AER/tax free p.a. on balances of £5,000 - £2,000,000.

Financial Services Compensation Scheme

All of our savings products are covered by the Financial Services Compensation Scheme (FSCS). For further information about the compensation provided by the FSCS visit opens in new window

Protecting your money - A guide from the FSCS [PDF, 557Kb] opens in new window


Important Information

The tax treatment or rate of interest payable depends on the individual circumstances of each customer and may be subject to change in the future.

Savings accounts are available from Sainsbury’s Bank to UK residents aged 18 years old or over. Sainsbury’s Bank reserves the right to alter rates at any time.

Gross interest is the interest rate paid without the deduction of income tax. AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if paid and compounded once each year. 

Frequently asked questions

How does a Fixed Rate Cash ISA work?

A Fixed Rate Cash ISA is a type of tax-free savings account with a set interest rate. The term of the account will usually range from 1 - 5 years.

Is opening a Fixed Rate Cash ISA a good idea?

Before opening a Fixed Rate Cash ISA, you should consider the amount of money you’d like to save and how long for. You should also think about whether you will have enough spare money to put aside for the full term.

Fixed Rate ISAs often offer higher interest rates than instant access ISAs, but you may be limited on how often you can withdraw money – if at all.

Can I withdraw money from my Fixed Rate Cash ISA?

With a Fixed Rate Cash ISA from Sainsbury’s Bank, partial withdrawals during the term of the ISA are not allowed. If you want to transfer all of the money in your account to a new ISA provider before the end of the term, it will be subject to an early closure charge. This is calculated based on interest and how many years early you close the account. See our Terms and Conditions for more information.  

Does a Fixed Rate Cash ISA have a high interest rate?

Fixed rate ISA interest rates vary depending on how long the term is fixed for, but it could have a higher rate than an instant access account. This is because the money you save stays in the account for the full term.

How can I manage my Fixed Rate Cash ISA account?

It’s important to manage and keep track of your fixed rate cash ISA so you know how much money you’ve saved, and the amount of interest you’ve earned. Knowing when your fixed period ends is important for this type of account. To manage your Sainsbury’s Bank Fixed Rate Cash ISA, you can login online.