2 Year Fixed Rate ISA

Our cash ISA gives you a tax-free guaranteed interest rate for a fixed term

2 Year Fixed Rate ISA

What you can get

  • Fixed rate of 0.45% AER/tax-free for 2 years
  • Combine multiple cash ISAs in a single cash ISA with Santander – transfer in ISAs from other providers within 14 days of opening

Eligibility and withdrawal penalties

  • You cannot withdraw money from this account unless you close it. There is a penalty of 120 days’ interest if you close the account early

  • You open the account with £500 or more
  • You‘re a UK resident aged 16 or over

Account name

2 Year Fixed Rate ISA

What is the interest rate?



AER/tax-free (fixed)
2 Year Fixed Rate ISA

AER/tax-free (fixed)
2 Year Fixed Rate ISA for 1|2|3 World or Santander Select Customers

AER based on funds deposited by

Maturity date

2 years







Interest is calculated daily and added to this account on 1 March annually.

* Interest may be earned before this date provided the account is open and funded.

AER is based on funds deposited by 1 March 2020. If you deposit funds after 1 March 2020, the interest you receive may be less than the advertised AER.

Can Santander change the interest rate?

No, the interest rate is fixed during the term.

What would the estimated balance be after 24 months based on a £1,000 deposit?

Account name

Interest earned 

Balance after  24 months

2 Year Fixed Rate ISA



2 Year Fixed Rate ISA for 1|2|3 World or Santander Select customers




Estimates assume the account is opened and deposit is made on 1 March 2020.


At the end of term

We'll calculate and pay the interest for you on the date of maturity and it will be available to you from the following day.

We’ll contact you around 14 days before maturity to tell you your options. If we don’t hear from you we’ll transfer your account to an ISA Saver, currently paying 0.35% AER/tax-free (variable) for balances of £1+ and 0.60% AER/tax-free (variable) for balances of £10,000+.

Estimated balance of ISA Saver after 12 months


Maturing account balance transferring to ISA Saver

Interest earned

Balance after 12 months

2 Year Fixed Rate ISA - £1,009.02



2 Year Fixed Rate ISA for 1|2|3 World or Santander Select customers - £1,014.05




Estimates assume no further deposits or withdrawals made and no change to interest rates.

These illustrations are only examples and don’t take into account individual circumstances.

How do I open and manage my account?

To open the account you must be:

  • a UK resident, account can only be held in single name; and
  • aged 16 or over.

To be eligible for the higher interest rate you must be a 1|2|3 World or a Santander Select customer at point of opening.



  • Online and Mobile.
  • Visit any Santander branch.


ISA transfers

You can transfer in existing ISAs held with external ISA providers, applications must be received within 14 days of account opening and the funds in the ISA which you are transferring from must be available to be transferred within 30 days of account opening.

Santander cash ISA transfers in are allowed, applications must be received by 31 March 2020.

You can transfer the full balance of your ISA to another provider at any time, a charge equivalent to 120 days' interest will be applied. You will need to contact your new ISA provider to arrange the transfer.



A subscription is any deposit (or payment) made by you into an ISA.

Minimum opening balance of £500. You can open the account with a zero balance if you are transferring in existing ISAs with a balance of at least £500.

The ISA allowance for the 2019/20 tax year is £20,000.

Deposits can be made up to and including 31 March 2020. No subsequent additional deposits allowed.

This 2 year fixed rate ISA is a cash ISA. Please be aware that if your deposits for any given tax year are less than the full ISA allowance for that tax year, you won’t be able to pay into another cash ISA in the same tax year to use the remaining allowance.

You can subscribe your ISA allowance into a cash ISA, a stocks and shares ISA, an innovative finance ISA and a lifetime ISA or a combination of the four. Santander do not offer innovative finance ISAs or lifetime ISAs.

For example, if you subscribe to this Fixed Rate ISA you won’t also be able to subscribe to one of our other cash ISAs  this tax year.

A tax year runs from 6th April in one year to 5th April the next.

This product doesn’t accept additional permitted subscriptions


Manage the account

  • Branch and telephone. View only in Online and Mobile Banking.
  • A certificate or email confirmation will be issued after account opening.
  • Statements are issued annually in March.

Can I withdraw money?

Partial withdrawals aren’t allowed. You can withdraw money by closing the account; a charge equivalent to 120 days’ interest will be applied.

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

We aren’t offering additional flexibility on ISAs but some providers are offering this feature. Those providers may allow you to replace funds that you have withdrawn with them without affecting the ISA limit.

Additional information

You can cancel the account within 14 days of opening and your money will be returned in full with interest.

The favourable tax treatment of ISAs may change in the future.

Subject to availability and may be withdrawn without notice. Rates and information correct as at 3 February 2020.

Transferring ISAs from other providers

You can transfer ISAs you have with other providers at any time, but we must receive the transfer request within 14 days of when you open your Santander ISA. The money you’re transferring must reach your Santander ISA within 30 days of opening. 

Before you transfer your ISA to us you’ll need to consider these points:

  • We don't charge a transfer fee but other providers may. 
  • You can transfer some or all the money that you’ve paid into an ISA in previous tax years. If you want to transfer money that you’ve paid into an ISA in the current tax year, you’ll need to transfer all of it. 
  • If you transfer an ISA in full to us and have built up previous tax year flexible allowances with your current provider, you’ll lose that allowance when you move to Santander. 
  • If you want to use the flexible allowance you should re-deposit into your existing ISA before you transfer to us.
  • Transferring money out of a Help to Buy: ISA will impact the bonus you may receive.

The ISA manager for Santander cash ISAs is Santander UK plc. For Santander stocks and shares ISAs the ISA manager is Santander ISA Managers Limited. This means that transfers between Santander cash ISAs and Santander stocks and shares ISAs should be treated as transfers between ISA providers, not transfers of existing cash ISAs with Santander.

Cash ISA transfer form

Stocks and Shares ISA transfer form (pdf)
Innovative Finance ISA transfer form (pdf)
Lifetime ISA transfer form (pdf)

Transferring other Santander cash ISAs

If you have more than one Santander cash ISA, you can combine any balances into a single cash ISA using the Santander Cash ISA transfer form below. To transfer in to a new Fixed Rate ISA, we need to receive your transfer form within 14 days of you opening your new ISA.

Santander Cash ISA transfer form (pdf)


Any money withdrawn from your cash ISA rather than transferred will be considered a withdrawal and will lose its tax free status. If you replace the money back into an ISA it will count towards your current tax year ISA limit.

Everything you need to know before you apply

We recommend reading the information in the documents below before you apply. You may like to save or print them so you can refer to them in the future.

This account also comes with

Telephone Banking
Online and Mobile Banking with text and email alerts
Access to the Santander branch network