What is the best Nationwide Fixed Rate ISA?
A Fixed Rate ISA is a savings account where you put away a set amount of money for a fixed period of time, usually 1-3 years. In return for locking away your money, you’ll receive a guaranteed interest rate for the set time period. Because it’s an ISA, your interest will also be tax-free, unlike if you saved into a normal savings account.
You can save up to £20,000 in ISA accounts across different providers each tax year. Tax treatment depends on individual circumstances and may be subject to change in the future.
If you’re looking for the best Fixed Rate ISA on the market, keep in mind that the familiar high-street banks don’t always offer the most competitive rates.
What is Nationwide’s best fixed rate ISA?
Nationwide’s current best Fixed Rate ISA is their 1-year Fixed Rate Cash ISA offering 4.10% AER (fixed). Although this is a competitive interest rate for a Fixed Rate ISA account, there are other Fixed Rate ISAs offering higher rates than this currently on the market.
What are the current Nationwide fixed rate ISAs?
Nationwide currently offers two Fixed Rate ISAs; their 1-year Fixed Rate ISA and their 2-year Fixed Rate ISA. Once the fixed term has ended on either account, your account will automatically mature into Nationwide’s Instant Access Cash ISA, which may offer a substantially lower rate of interest.
- 1 Year Fixed Rate ISA: 4.10% AER/tax-free (fixed). Requires a minimum opening deposit of £1, but keep in mind that you can't add more money to the account once it has been opened. As this is a fixed-rate account, you’ll be agreeing to lock away your money for a fixed period of 1 year. If you choose to withdraw your funds before this point, this will close the account and you’ll have to pay an early access charge equivalent to 60 days' interest. If the early access charge is more than the interest you've earned, you'll get back less money than you paid into your account.
- 2 Year Fixed Rate ISA: 4.00% AER/tax-free (fixed). Requires a minimum opening deposit of £1, but keep in mind that you can't add more money to the account once it has been opened. As this is a fixed-rate account, you’ll be agreeing to lock away your money for a fixed period of 2 years. If you choose to withdraw your funds before this point, this will close the account and you’ll have to pay an early access charge equivalent to 120 days' interest. If the early access charge is more than the interest you've earned, you'll get back less money than you paid into your account.
You can see Nationwide’s full list of Cash ISAs here
Source: Nationwide Fixed Rate ISAs. Rates accurate as of February 2025.
Can I withdraw money from a Nationwide fixed rate ISA?
Yes, you can withdraw your money from a Nationwide Fixed Rate ISA, but if you do this before the fixed term ends you’ll pay an early access charge. This is equivalent to 60 days' interest for their 1 Year Fixed Rate ISA and 120 days' interest for their 2 Year Fixed Rate ISA. At the end of the fixed term, you can ask Nationwide to close the account, which will enable you to withdraw all your funds.
Can I transfer money into a Nationwide Fixed Rate ISA?
Yes, you can transfer money into a Nationwide Fixed Rate ISA, but you have to do this in a Nationwide branch. You can’t initiate a transfer online or via the Nationwide app, even if you are transferring money from another Nationwide account.
How to find the best Fixed ISA Rates
Although a lot of high street banks offer Fixed Rate ISAs and opening an account with them may seem the easiest option, they don’t always offer the best Fixed Rate ISA rates. To find the best Fixed Rate ISAs, compare accounts from different providers, including smaller providers you might not have heard of before. As well as the rate, look at if the provider ticks other boxes, like having excellent customer service, or an easy-to-use savings app with intuitive savings features to help you save more.
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