Cash ISA

The Co-operative Bank 2 Year Fixed Rate Cash ISA Review

A two-year cash ISA from The Co-operative Bank, with a £5,000 minimum deposit. It ranks 41st of 44 two-year cash ISAs we track.

2 years

4.09%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£5,000

Max balance

No limit

Access

At maturity only

Interest paid

Annually

Transfers in

Accepted

How It Stacks Up

Ranks 41st of 44

2-year cash ISAs we track

Below average
This account 4.09%
UK CPI (Aug 2026)
3.10%
Pays 0.99% more
Average 2-year cash ISA
4.50%
Pays 0.41% less
Best 2-year cash ISA
5.05%
Pays 0.96% less

Inflation: ONS. Averages and best rates: accounts on DepositScout.

Compare cash ISAs

A Good Fit For

  • Pro: New and existing savers

Worth Weighing Up

  • Con: Your money is locked in for 2 years
  • Con: You need at least £5,000 to open it

Good to Know

Open to UK residents aged 18 or over as a sole account only; minimum deposit is £5,000 (or £1 for prior-year ISA transfers), with 30 days from account opening to fund it. Can be opened online, in branch, or by post.

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Estimated returns with The Co-operative Bank's Cash ISA

What you could earn with The Co-operative Bank's 2 Year Fixed Rate Cash ISA.

Estimated interest

£5,000 saved

£417

At 4.09% AER

£10,000 saved

£835

At 4.09% AER

£50,000 saved

£4,174

At 4.09% AER

Estimated over the 24-month term, if the rate stays the same and interest is left in. Amounts outside the account's minimum or maximum aren't shown.

Our Expert Opinion on The Co-operative Bank 2 Year Fixed Rate Cash ISA

Jonny PeaseCo-Founder, DepositScout

The Co-operative Bank's 2 Year Fixed Rate Cash ISA pays 4.09%, which sits below the cash ISA market average and 1.03% behind the category leader at 5.12%, so I would not call this rate particularly strong. It does beat August 2026 CPI inflation by 0.99%, which at least preserves real value, and it accepts ISA transfers in, making it useful for consolidating existing ISA pots. The real catch is the early withdrawal penalty of 120 days' interest, and with a £5,000 minimum to open, I would first check Cynergy Bank's Online ISA at 4.15% with no fixed lock-in.

Compare Cash ISAs

2 alternatives to The Co-operative Bank's 2 Year Fixed Rate Cash ISA

Same type of account, closest on rate.

Common questions about the 2 Year Fixed Rate Cash ISA

D

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