Home / Personal Savings / Personal Fixed Rate Cash ISAs

Key product information for your Personal Fixed Rate Cash ISAs

Account name Personal Fixed Rate Cash ISAs

What is the interest rate?

Fixed Rate Term Monthly interest rate (%) Gross annual interest rate (%) AER (%)
12 Months 1.36* 1.37 1.37

Minimum balance: £1,000

Maximum balance: The annual allowance for ISA contributions in the 2017/2018 tax year is £20,000. Funds can also be transferred from existing ISAs as long as the total balance of your OakNorths accounts does not exceed the £250,000 limit

Interest is calculated on the minimum daily balance and applied to the account on the first day of every subsequent month.

*The monthly interest rate is rounded to 2 decimal places.


Can OakNorth Bank change the interest rate?

No. The interest rate is fixed during the term.

What would the estimated balance be on maturity based on a £1,000 deposit?

Fixed Rate Term

Initial deposit at account opening Balance at maturity

12 Months




This is only an example for illustrative purposes and does not take into account your individual circumstances. 


This example assumes that the account remains open during the selected term, and that any interest earned stays in the account.

The term of the account and thus interest accrual will start on the business day that we receive your first funding.

Any subsequent funding will add to the total balance, and interest will be calculated on the daily closing balance.

How do I open and manage my account?

Our accounts are available to individuals, aged 18 or over, who are ordinarily resident in the UK (i.e. England, Wales, Northern Ireland and Scotland) for tax purposes and have a permanent UK address. Also, you must have a personal UK bank or building society account that allows transfers to be made to and from it.

Applications to open an account must be completed online

The minimum deposit required to open your account is £1,000. The maximum deposit for this account is the current tax year allowance for ISAs. In addition or alternatively, you may transfer existing Cash ISAs from other providers into this account, up to the amount held. These limits are subject to HM Revenue & Customs rules.

Upon account approval, you will have 30 calendar days to fund your account via new deposit and/or Cash ISA transfer before your account will expire and be closed.

You have the right to cancel the account within 14 days from account approval. If you are transferring in a Cash ISA and choose to exercise your right to cancel, the funds excluding any interest accrued will be sent back to the original provider. 

Once you activate online banking, your account can be managed via the ‘My Account’ section of our website.

If for any reason you need to contact us, this can be done by email, by phone or by writing to us. Please refer to our website for our contact details.

Can I withdraw money?

Yes. You can withdraw funds from your Fixed Rate Cash ISA via online banking by going to the ‘My Account’ section of our website. Alternatively, you may email us at or call us at 0330 380 1181 to withdraw funds.

Your money can be returned to your nominated account or transferred to another ISA provider. Please note, if you would like to transfer your ISA out, you will need to contact your new ISA provider and instruct them to request a transfer from us.

There is a minimum withdrawal amount of £1,000, or the balance amount if the account balance is less than £1,000.

There will be a withdrawal charge depending on the term taken, as shown below.


ISA Deposit Term

Early Withdrawal Charge

12 Months

90 days of interest on the amount withdrawn

We will deduct the charge from the balance in your account when the withdrawal is made, and you therefore may get back less than you originally deposited.

You can close or transfer your balance to another provider at the end of the term with no penalty.

We retain the right to pay a reduced rate of interest during any period when the account balance is below the minimum amount permitted for the product.

This is not a flexible Cash ISA, so any money withdrawn cannot be replaced and counted towards your current ISA tax year allowance.

30 days before your account matures, we will send you an email asking if you want to:

  • Reinvest the full or partial balance in a new OakNorth Cash ISA and any remaining balance will be transferred back to your nominated account.

  • Return your full original principal investment and interest earned back to your nominated account.

If we do not hear from you before the account maturity date, the total amount will be automatically transferred to an Easy Access Cash ISA with us. See our Easy Access Cash ISA deposit account page for the current interest rate.

Additional information

Interest is tax-free, and doesn't count towards your Personal Savings Allowance.

The AER (Annual Equivalent Rate) illustrates the annual interest rate as calculated over the original principal and any interest accrued during the year, or the term of the deposit, whichever is shorter.

We may stop offering the above product(s) to new customers in the future.

Please note: The information provided in the summary box, is a summary of the key features of our Fixed Term Deposit accounts. It should not be used as a substitute for our terms and conditions which can be found on our website.

Can I split my Cash ISA allowance between accounts?

Yes. You can split your Cash ISA allowance between our Fixed Rate Cash ISAs and Easy Access Cash ISAs. This will be classified as one Cash ISA for the purposes of tax-free allowances and HMRC reporting. This is subject to HMRC ISA Guidelines, and provided that your annual allowance is not exceeded across all Cash ISA products. We are one of only a few providers in the UK who allow this split.

Do you accept transfers in/out of this account?

Yes. You can transfer existing Cash ISAs that you hold with other providers into your OakNorth Cash ISA with a minimum transfer amount of £1,000. We will contact your existing Cash ISA provider and arrange the transfer on your behalf. As per HMRC and industry guidelines:

  • Transfers may take up to 15 days

  • If you hold a Cash ISA with another provider from the current tax year, you will have to transfer your entire balance including interest to your OakNorth Cash ISA as part of your application

  • If you would like to transfer in your Cash ISAs from previous years, you can transfer all or part of your balance to your OakNorth Cash ISA. These funds will not count towards your ISA allowance for the current tax year. 

You can transfer your OakNorth Cash ISA to another provider at any time. However, in a Fixed Rate Cash ISA there will be a withdrawal charge depending on the term taken, as shown below.


ISA Deposit Term

Early Withdrawal Charge

12 Months

90 days of interest on the amount withdrawn

We will deduct the charge from the balance in your account when the withdrawal is made, and you therefore may get back less than you originally deposited.