What interest rate does the First Direct Fixed Rate Cash ISA pay?

The First Direct Fixed Rate Cash ISA pays 4.50% AER.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £450 at 4.50% AER. This assumes the rate stays the same and interest stays in the account.

How much can I pay in?

You can deposit at least £500.

Can I withdraw my money?

No. Withdrawals aren't allowed until the account matures.

When is interest paid?

Interest is paid at the end of the term.

Who can open this account?

New and existing First Direct customers can open it. You can open it in the app or by phone.

Is my money protected?

Yes. Eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking licence.

Can I transfer an existing ISA in?

Yes, transfers in from other ISAs are accepted.

How does it compare with other one-year cash ISAs?

At 4.50% AER it ranks 22nd of 47 one-year cash ISAs we track. The best pays 4.92% and the average is 4.37%.

Dashboard

Cash ISA

First Direct Fixed Rate Cash ISA Review

A competitive one-year cash ISA from First Direct. It ranks 22nd of 47 one-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

1 year

4.50%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

No limit

Access

At maturity only

Interest paid

On maturity

Transfers in

Accepted

First Direct is also paying £210 to switch your current account. Offer ends 2 December 2026.

See the switch offer

How It Stacks Up

Ranks 22nd of 47

1-year cash ISAs we track

Above average

This account 4.50%

UK CPI (Aug 2026): 3.10%; Pays 1.40% more
Average 1-year cash ISA: 4.37%; Pays 0.13% more
Best 1-year cash ISA: 4.92%; Pays 0.42% less

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

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Pros and cons

Pro: New and existing savers
Con: Your money is locked in for 1 year

Good to Know

~13-month

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Estimated returns with First Direct's Cash ISA

What you could earn with First Direct's Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£45.00

At 4.5% AER

£5,000 saved

£225

At 4.5% AER

£10,000 saved

£450

At 4.5% AER

£50,000 saved

£2,250

At 4.5% AER

Estimated over one year, 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 First Direct Fixed Rate Cash ISA

Jonny PeaseCo-Founder, DepositScout

First Direct's one-year Fixed Rate Cash ISA pays 4.50%, which sits below the cash ISA market average and 0.62% behind the current market leader at 5.12%. It does at least beat August 2026 CPI of 3.1% by 1.40%, so your money grows in real terms, but savers who shop around can do better, with Tandem Bank's one-year cash ISA at 4.76% for instance. The main catch is that access is locked until maturity, and early closure after the 30-day cancellation window risks losing all interest earned, so I would only commit if you are certain you won't need the £500 minimum deposit back early.

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