Available until 5pm on 06 December 2023 to new customers and 11 December 2023 to existing customers. Please note that these issues may be withdrawn early due to limited availability
At a glance: 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, and it won't change throughout the term.
What are NatWest's best one-year and two-year Fixed Rate ISA rates?
- Earn 4.85% AER/Tax-free p.a. (fixed) when you fix your savings for one year.
- Earn 4.65% AER/Tax-free p.a. (fixed) when you fix your savings for two years.
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.
Account name: Fixed Rate ISA
What is the interest rate?
AER/Tax-free p.a. (fixed)
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?
Deposit at start date
Balance at maturity date
How do I open and manage my account?
You must be aged 16 years or over and resident in the UK for tax purposes.
• Not have subscribed to another cash ISA (including a Help to Buy: ISA with another provider) or invested the maximum amount in any combination of permitted ISAs in the same tax year; and
• Hold the account solely in your name.
You can open and manage your account on our mobile app, online or by telephone.
To open in branch you must bring your own digital device such as a mobile or tablet and our staff can assist you opening the account yourself.
We will need an email address and mobile number to open your account. You can update them online.
You can make payments through the Mobile app, Online Banking, in branch and by telephone. We will send you a certificate of deposit within 14 days of the Start Date.
Balance and ISA allowance
Your deposit must reach your account by 29 December 2023. You must deposit at least £1,000 (the “Minimum deposit”) by this date. There is no Maximum deposit and no maximum balance; however, there is a limit on the amount you can pay into your account each tax year (“ISA allowance”). This limit is set by the Government and may change from time to time. The ISA allowance is £20,000 for the current tax year.
If you pay in more than the limit any excess money will be returned to you.
If you make a payment into your Fixed Rate ISA you will not be able to make any further payments for that tax year into any other cash ISA except for a NatWest Help to Buy: ISA.
Can I withdraw money?
You can withdraw money from your account (in branch or by telephone) until 29 December 2023 at 3:30pm. Partial withdrawals are not permitted after this time.
If you want to make a withdrawal after this time and before the Maturity Date, you must close your account by giving written notice to your branch. An Early Closure Charge will apply, except in the event of your death.
The Early Closure Charge will be the lower of the amount of interest earned on your account or 90 days’ interest.
The Early Closure Charge will 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 have earned 50 days’ interest you will only be charged an Early Closure Charge equivalent to 50 days’ interest. If you have earned 100 days’ interest you will only be charge an Early Closure Charge equivalent to 90 days’ interest.
For more information on closing, please see the Fixed Rate ISA Terms (Term 8).
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.
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)
Get ready to apply
Before you apply, we need to check you're happy with a few things. And ask you a few questions up front. Then we can make your application as quick and simple as it can be.
If you carry on applying, it means you're happy with what's in these documents, including the FSCS information sheet. Please take some time to review, print and/or save the important information.
First things first. Please take a look at the important legal info:
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.