If you're aged 18 or over and want flexible, tax-free, fixed-rate savings, a Furness Building Society ISA may be the account for you.

With a Fixed Rate Cash ISA you’re agreeing to put a lump sum of money away for a fixed amount of time in return for a guaranteed rate of interest.

Fixed Rate Cash ISAs are designed to keep your money locked away over a set period. Choose this account if the following appeals to you:

• You have a lump sum to save.
• Easily transfer your ISAs from another provider.
• Guaranteed fixed rate of interest.
• Typically higher interest rates than variable rate Cash ISAs.

If it’s a flexible ISA with easy access to your savings that you’re after, then take a look at our Everyday Cash ISA instead.

No. When opening a Fixed Rate ISA you’re agreeing to lock away a lump sum for a set term - in exchange for a guaranteed interest rate. Once the account matures, you can then add to your savings and transfer the money into a new savings account. 

More information about ISA maturity can be found on our Savings Maturity page.

You can have multiple ISAs, but you can only subscribe to one new Cash ISA in the 2022/2023 tax year. So, if you’ve opened one of our ISA accounts since 6 April 2022, you’ll need to wait until 6 April 2023 to open another one. The only exception is if you’re transferring funds from another account, in which case you may be able to open more than one Cash ISA account in the same year.

It’s also important to note that opening multiple ISA accounts will not increase your ISA Allowance, which is £20,000 tax-free savings per tax year.

You can absolutely transfer your Fixed Rate ISA from one provider to another at any time. Whether you want to switch to a different type of ISA or keep the same one, you have the flexibility to do so. 

Keep in mind that if you plan to transfer funds you've invested in the current year, you'll need to transfer the entire amount.

With Fixed Rate Cash ISAs, withdrawals are not allowed until the maturity date. However, you can close the account completely, or transfer the whole balance to another ISA. Please be aware that if you opt for an early closure, you may be subject to an early access fee.

Once your account has reached maturity, you have the option to boost your savings by transferring the funds into another savings account. For more information on ISA maturity, please take a look at our Savings Maturity page.

Of course! Transferring your ISA to, from, or between accounts at Furness Building Society is a straightforward process. All the necessary forms and information can be found on our ISA Transfers page.