Skip to main content
Personal
Business
Commercial
Log in to Personal Banking
The Co-operative Bank
or
Register

Co-operative Bank Fixed Rate Cash ISAs

With a Fixed Rate Cash ISA from The Co-operative Bank, you can save tax-free, and earn a fixed rate of interest for 1 or 2 years.

Account overview

With a Co-operative Bank Fixed Rate Cash ISA, you can:

  • Lock in your tax-free interest rate for 1 year, at a rate of 3.93% tax-free / AER fixed
  • Or, lock in your tax-free interest rate for 2 years, at a rate of 3.75% tax-free / AER fixed
  • Deposit a minimum of £5,000 and up to a maximum of £20,000 if using your annual ISA allowance
  • Deposit as little as £1 and up to £1,000,000 when transferring previous tax years’ ISA allowances from an existing cash ISA. Your existing ISA could either be with us, or another provider
  • Reinvest all or part of your money at the end of your chosen term
  • Manage your account online, by mobile, over the phone, in branch or by post.

Please note:

  • To apply, you must be a UK resident aged 18 or over
  • It’s only available as a sole account, not a joint account
  • This product can be withdrawn at any time
  • You’ve got 30 days from when we open your account to pay in the minimum deposit. You can do this in one lump sum or through multiple payments. After your account’s been open for 30 days, no further deposits are allowed
  • Withdrawals during the fixed term are subject to 180 days’ loss of interest on the amount of money withdrawn
  • At the end of your term, your money will be transferred to a variable rate Co-operative Bank Cash ISA, or another account of your choice.

Not the right account for you? Take a look at our other savings accounts.

Compare our Co-operative Bank Fixed Rate Cash ISAs

The main differences between our Fixed Rate Cash ISAs are the lengths of their terms, and the interest you could earn.

Length of term
Interest paid annually (tax-free/AER fixed)
Balance at the end of the fixed term, based on a £5,000 deposit
Length of term 1 year
Interest paid annually (tax-free/AER fixed) 3.93%
Balance at the end of the fixed term, based on a £5,000 deposit £5,196.50
Length of term 2 year
Interest paid annually (tax-free/AER fixed) 3.75%
Balance at the end of the fixed term, based on a £5,000 deposit £5,382.03

Please note: your fixed term will start on the date we receive and accept your initial deposit, or the date we receive the transfer value of your existing ISA, not the date you open the account.

The account summary information is displayed in the summary box below — you must read it before applying. You can also download this information in a PDF format.

Fixed Rate Cash ISA terms, conditions and summary box (PDF)

Summary box

The Co-operative Bank Fixed Rate Cash ISA

Interest paid annually

3.93% tax-free / AER for a 1 year Fixed Rate Cash ISA

3.75% tax-free / AER for a 2 year Fixed Rate Cash ISA

Interest is calculated daily and is paid annually on the anniversary of the start of the fixed term. If this date doesn’t fall on a Business Day, it will be paid on the next available Business Day.

Your fixed term will start from the date we receive and accept your initial deposit, or the date we receive the transfer value for your existing cash ISA — whichever is earlier.

Interest can either be paid into this account or another account of your choice, with us or another provider.

The fixed rate you receive will be the rate on offer for the term you select on the date your application is received.

No, the interest rate is fixed. It won’t change until the account matures at the end of your term.

Balance at end of fixed term

£5,196.50 would be the balance after a 1 year fixed term

£5,382.03 would be the balance after a 2 year fixed term

This calculation is for illustrative purposes and assumes:

  • You haven’t made any additional deposits or withdrawals
  • You’ve chosen to add your interest to the account.

Open an account

To open an account you must be a UK resident aged 18 or over. Please note: this account can only be opened as a sole account.

You can open an account:

  • Online
  • In branch
  • By post.

How much can I deposit?

The minimum deposit is £5,000, but if you’re transferring in previous tax years’ ISA allowances only – then the minimum deposit is just £1.

The maximum deposit if you are using your annual ISA allowance is £20,000 per tax year. But if you’re transferring in ISAs from previous tax years’ ISA allowances, the maximum balance is £1,000,000.

The maximum account balance is £1,000,000.

You’ve got 30 days from when we open your account to pay in the minimum deposit. You can do this in one lump sum or through multiple payments up to the maximum amounts above. If after 30 days you haven’t met the minimum deposit, we’ll close the account and return any funds to you. No further deposits are allowed after 30 days from account opening.

How do I pay into this account?

If you’re using your annual ISA allowance

You can pay your initial deposit(s) into this account by cash, cheque or transfer from another account held with us or another provider. You can also pay cheques in at the Post Office®.

If you’re transferring an existing cash ISA you have (with us or elsewhere) to this account

You can do this by providing us with a completed Cash ISA Transfer Authority Form. You’ll receive the form with your welcome letter so just complete it, return it to us and we’ll arrange the transfer on your behalf.

You must not withdraw the funds yourself to transfer to this account as they will lose their tax-free status.

How do I manage this account and get in contact?

You can contact us, and manage this account:

  • Online
  • Over the phone
  • In branch
  • By post.

Yes — however, if you withdraw before your maturity date, you’ll be charged the value of 180 days’ interest on the amount you withdraw (using the account’s interest rate). This charge will be taken from interest you’ve earned, but hasn’t been paid. But if you haven’t earned enough interest to cover this charge, some of it will come out of your original deposit(s).

Any money that you withdraw from your ISA will lose its tax-free status, and, if repaid back into an ISA, it will count towards your current tax year's ISA allowance.

So, for example, if you have deposited £10,000 and then withdraw £1,000, you will only be able to deposit a further £10,000 in that tax year.

You can withdraw money:

  • In branch
  • By telephone
  • By requesting a bankers cheque — there is a charge for this.

At the end of the fixed term, your account matures and your money will be put into a variable rate instant access cash ISA — unless you provide us with other maturity instructions.

We’ll send you a letter before your maturity, to remind you of your maturity date and to let you know what options are available to you (such as re-investing or withdrawing).

On maturity, you can access your money in branch, over the phone, by post, through online banking and through our mobile app, if registered.

This is a limited issue product and may be withdrawn without notice at any time.

If you are or have previously been made bankrupt, you are eligible to apply.

Interest earned from this account will not count towards any of your available Personal Savings Allowance.

All interest earned from your ISA will be tax-free.

You cannot pay into a cash ISA with us if you have already paid in the full annual ISA allowance in this tax year.

For more information about ISAs in general, please read our ISA Allowance and information guide.

Transferring an existing cash ISA

If you like, you can transfer money from an existing cash ISA into a Co-operative Bank Fixed Rate Cash ISA. Your existing ISA might be with us, or another provider.

If your existing cash ISA is with another provider, they may have restrictions relating to ISA transfers — we recommend checking this before requesting a transfer to us.

You must not withdraw the money and transfer it to us yourself, as it will lose its tax-free status.

I want to open and transfer money to a new Co-operative Bank Fixed Rate Cash ISA

If you wish to transfer an existing cash ISA held with us or another provider to a new Fixed Rate Cash ISA, you’ll need to:

  1. Apply for a new Fixed Rate Cash ISA
  2. Complete the Co-operative Bank Cash ISA Transfer Authority form, which’ll arrive with your welcome letter or download it
  3. Return the completed form to us.

Apply for a Co-operative Bank Fixed Rate Cash ISA

If you’re eligible, you can apply either online, or in branch.

To apply, you must:

Approval is based on an assessment of your personal circumstances. To help protect you and ourselves against fraud, we’ll share the personal information from your application with fraud prevention agencies.

Before you apply:

  • Remind yourself of the interest rate of your chosen Fixed Rate Cash ISA. The rates differ depending on the length of the fixed term
  • Please make sure you’ve read the summary box information, and read and saved copies of the important documents below.

Apply online

It will take around 10 minutes to complete this application.

To continue, confirm that you:
Please tick to confirm you've read all of the summary box information and the important documents below, and are eligible to apply for this account.

You'll now be taken to the application form.

Apply for a Fixed Rate Cash ISA

Apply in branch

If you’d rather not apply online, you also have the option to apply in one of our branches.

Find your nearest branch

Important documents

Please read the important documents below and save copies of them for future reference.

Please note: We're making changes to our terms and conditions. You'll find a summary of what's changing in the updated PDF below. These changes will take effect from 4 June 2025.

Other ways you can save with us

If a Co-operative Bank Fixed Rate Cash ISA is not right for you, there are plenty of other ways to save with us.

Compare all of our savings accounts

Co-operative Bank Fixed Term Deposit

Up to 4.15% gross / AER fixed (annually)

Monthly interest option available.

An account designed for those who want to lock away a lump sum for 1, 2 or 3 years, and earn a fixed rate of interest.

View Co-operative Bank Fixed Term Deposit

Online Cash ISA

2.46% tax-free / AER variable

An instant access cash ISA for existing customers who want to manage their tax-free savings online and on mobile.

View Online Cash ISA

Cash ISA

1.68% tax-free AER variable

An instant access cash ISA for those who want to manage their tax-free savings online, on mobile, through telephone banking, or in branch.

View Cash ISA

Savings terms explained

AER stands for Annual Equivalent Rate and shows what the interest rate would be if interest were paid and added to your account each year.

Business day is usually Monday to Friday excluding bank holidays.

Calendar month means from midnight on the first day of a month to 11.59:59pm on the last day of the month.

Fixed interest means the rate stays the same until the account matures.

Gross is the rate of interest payable before any tax is taken off.

Tax-free means you will not pay any tax on your interest.

Tax year runs from 6 April to 5 April.

Variable interest means that it could go up or down.

Please note: any reference to tax is based on our understanding of current tax regulations which may change in the future and depend on the customer's individual financial circumstances.

The Co-operative Bank reserves the right to decline or accept any application and/or deposit.

Find out more about Financial Services Compensation Scheme | This will open in a new tab

Financial Services Compensation Scheme

Your eligible deposits held by a UK establishment of The Co-operative Bank p.l.c. are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. This limit is applied to the total of any deposits you have with The Co-operative Bank and smile. Any total deposits you hold above the limit between these brands are unlikely to be covered.

Please read further information on the FSCS scheme here or visit their website.

Not found what you're looking for?

Contact our support team

Visit a branch
Call us