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Fixed Rate ISA

NatWest's Fixed Rate ISA, for one and two year terms

Fixed Rate ISA, our tax-free savings account

A Fixed Rate ISA is a type of savings account that could give you:

  • A set, tax-free interest rate for a defined period of one or two years when you deposit a minimum of £1,000.
  • Peace of mind, as you’ll know exactly how much your savings will earn before you apply. Your ISA rate won't change during your term.

What are NatWest's best one-year and two-year Fixed Rate ISA rates?

  • Earn 4.30% AER/Tax-free p.a. (fixed) when you fix your savings for one year.
  • Earn 3.80% AER/Tax-free p.a. (fixed) when you fix your savings for two years.

What is a Fixed Rate ISA?

A Fixed Rate ISA is a savings account where you agree to lock your money away for a certain period. These accounts offer guaranteed interest rates in return.

Unlike instant-access ISAs, you won’t be able to touch your money until the fixed term ends. But, the interest rate will often be higher.

Fixed rate ISAs also offer tax benefits compared to traditional savings accounts. Any interest you earn is tax-free, as long as you stick to the £20,000 annual allowance.

How does a Fixed Rate ISA work?

Open your Fixed Rate ISA with NatWest

Whether you are a new customer or have an existing account with us already it's simple to apply. Just click 'Apply online' below to get started. You’ll need to read a few T&Cs before you begin.

Compare Fixed Rate ISA options

You can save up to £20,000 and earn tax-free interest for terms of one or two years. Simply choose the term and interest rate that’s right for you.

Transfer your savings to your Fixed Rate ISA

After you’ve opened your account, you’ll need to add at least £1,000 before the Start Date of your ISA. You can add any savings or transfer another allowance into your account with our ISA transfer form.

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?

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 NatWest 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?

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

How do I open and manage my account?

What do you need?

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

  • Be 16 years old or over.
  • Be a UK resident.
  • Agree to hold the fixed ISA solely in your name.

Keep in mind: You can’t have subscribed to another cash ISA in the same tax year. This includes a Help to Buy: ISA with another provider. You can’t have invested the maximum amount in any combination of permitted ISAs either.

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)
  • In branch. Bring along your own digital device, such as a mobile or tablet. Our staff will then help you to open the account yourself.

How can you pay money in and manage your ISA?

Up and running? You can manage your Fixed Rate ISA using our app, online, or by phone.

Payments can be made in branch and by telephone. We’ll send you a certificate of deposit within 14 days of the account start date.

Just remember that:

  • Your deposit needs to reach your account by 12 April 2024.
  • You must deposit at least £1,000 (the ‘minimum deposit’) by this date.
  • There’s no maximum deposit or balance with a NatWest Fixed Term ISA.
  • You’ll need to stay within the annual ISA allowance, which is £20,000 for the current tax year. This limit is set by the Government and can change.
  • If you pay in more than the annual allowance, any excess money will be returned to you.

Key dates

Can I withdraw money?

You can withdraw money from your account (in branch or by telephone) until 12 April 2024 at 3:30pm. Partial withdrawals aren’t permitted after that. Instead, you’ll need to wait until the account matures.

Want to make a withdrawal after the cut-off, but before the maturity date? You’ll need to close your account by giving written notice to your branch. An Early Closure Charge will then apply, except in the event you pass away.

The Early Closure Charge will:

  • Be the lower of the interest earned on your account, or 90 days’ interest
  • 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’ve earned 50 days’ interest, you will only pay an Early Closure Charge equivalent to 50 days’ interest. And if you’ve earned 100 days’ interest, you will only face a charge equivalent to 90 days’ interest.

For more details, take a look at our Fixed Rate ISA Terms (Term 8).

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

AER: Stands for the Annual Equivalent Rate. It shows you what the rate would be if interest was paid and compounded each year.

Tax Free: The interest rate you are paid without the deduction of UK income tax.

p.a.: per annum (per year).

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

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.

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.

Are you an existing NatWest customer?

Great, let's get your application started.

You’ll need these bits of info handy for your application:

  • Have your National Insurance number. You’ll find it on your payslip, P60 or any letters from HMRC.
  • Be at least 16 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.
Do you have our NatWest 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.
Do you hold a current account with NatWest?

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 16 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 NatWest app and we'll get you started.  

Using your mobile or tablet device now?

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

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 16 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.
Do you use Online Banking?
If you log in to Online Banking we can pre-fill some of the application for you.
Do you hold a current account with NatWest?

Log in to NatWest Online Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Online 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 16 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.

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 16 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.

Let’s get you registered for Online Banking

You’ll need to sign up for Online 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 NatWest Debit Card, if you have one.

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

Log in to NatWest Online Banking

  1. Enter your customer number or 16-digit card number to get started. 
  2. You'll then need to enter your Online 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.

Want to reach your savings goals quicker?

How to start saving

Ready to start saving and take control of your financial future? Check out our guide to discover the benefits of using a savings account, how to save regularly, and how your savings can earn you interest.

Work towards your savings goals today

Got specific financial goals but don't know where to start? We're here to help. Discover the best strategies for saving towards your goals, and get tips for staying motivated along the way. Plus, explore tools and resources that could help track your progress and achieve your savings goals faster. 

Discover our savings accounts

Stash the cash for your future with one of our many savings accounts. Whether you're saving for the long term, or for a certain goal, we could have an account for you.