What is the best Skipton Fixed Rate ISA?

What is Skipton’s best Fixed Rate ISA?

Skipton’s current best Fixed Rate ISA is their 5 Year Fixed Rate ISA offering 3.90% tax-free AER (fixed). If you don’t want to lock away your money for that length of time, you can choose to fix for 1, 2 or 3 years instead, all of which offer an interest rate of 3.75% tax-free AER (fixed). 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. By comparing a wider range of providers, you can access a higher interest rate and grow your savings faster.

What are the current Skipton Fixed Rate ISAs?

Skipton currently offers four Fixed Rate Cash ISAs, ranging from 1 to 5 years. All four ISAs can be opened with as little as £500, but all deposits and transfers must be paid into the account before a set deadline. At the end of the fixed term (known as ‘maturity’), your savings will automatically be transferred into a 1 year Fixed Rate Cash ISA, unless you request otherwise before your maturity date. 

• 1 year Fixed Rate ISA: 3.75% AER/tax-free fixed (annual interest). Requires a minimum opening deposit of £500. As this is a fixed-rate account, you’ll be agreeing to lock away your money for a fixed period of 12 months. 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.
• 2 Year Fixed Rate ISA: 3.75% AER/tax-free (fixed). Requires a minimum opening deposit of £500. 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 180 days' interest. 
• 3 Year Fixed Rate ISA: 3.75% AER/tax-free (fixed). Requires a minimum opening deposit of £500. As this is a fixed-rate account, you’ll be agreeing to lock away your money for a fixed period of 3 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 240 days' interest.
• 5 Year Fixed Rate ISA: 3.90% AER/tax-free (fixed). Requires a minimum opening deposit of £500.  As this is a fixed-rate account, you’ll be agreeing to lock away your money for a fixed period of 5 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 365 days' interest.

Source: Skipton Fixed Rate ISAs. Rates accurate as of May 2025.

Can I withdraw money from a Skipton Fixed Rate ISA?

Yes, you can withdraw your money from a Skipton Fixed Rate ISA, but if you do this before the fixed term ends you’ll need to close your account and pay a penalty. The exact charge will depend on your chosen fixed term and will be based on a set number of days’ interest: 

• 60 days' interest for a 1 Year Fixed Rate ISA
• 180 days' interest for a 2 Year Fixed Rate ISA
• 240 days' interest for a 3 Year Fixed Rate ISA
• 365 days' interest for a 5 Year Fixed Rate ISA

Can I transfer money into a Skipton Fixed Rate ISA?

Yes, you can transfer money into a Skipton Fixed Rate ISA. If you haven’t got one already, you can open one online by requesting a transfer as part of the setup process. If you open an ISA over the phone, by post or in a local branch, the process may vary, but you’ll usually need to complete a Transfer Authority Form provided by Skipton. However, once the initial opening window is closed, you cannot continue to put money into the account.

How to find the best Fixed ISA Rates

There are loads of Fixed Rate ISAs to choose from across a range of banks, building societies and modern app-based providers. Opening an ISA with a high street bank might seem like the easiest option, especially if you already have a current or savings account with them. This could see you missing out on a better interest rate, as the most well-known banks don’t always offer the best rates.

By choosing an ISA with a competitive interest rate, you can reach your savings goals faster and reduce the impact of inflation. And, with a fixed rate account, you’ll protect your savings from falling interest rates too! 

Although the interest rate is important, it’s a good idea to look for excellent customer service and an easy-to-use savings app too. That way, you should find it easier to save money and stay on track.