What interest rate does the M&S Bank M&S 1 Year Fixed Rate Cash ISA pay?

The M&S Bank M&S 1 Year Fixed Rate Cash ISA pays 4.10% AER fixed.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £410 at 4.10% 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 and up to £20,000.

When is interest paid?

Interest is paid on each anniversary of opening.

Who can open this account?

New and existing M&S Bank customers can open it. You can open it online, by post 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 4.10% AER it ranks 44th of 56 one-year cash ISAs we track. The best pays 4.95% and the average is 4.42%.

Dashboard

Cash ISA

M&S Bank M&S 1 Year Fixed Rate Cash ISA Review

Q: Can I withdraw my money?

Access: No withdrawals without a fee.

A one-year cash ISA from M&S Bank. It ranks 44th of 56 one-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

4.10%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

£20,000

Access

No withdrawals without a fee

Interest paid

Anniversary

Transfers in

Accepted

How It Stacks Up

Ranks 44th of 56

1-year cash ISAs we track

Below average

This account 4.10%

UK CPI (Aug 2026): 3.10%; Pays 1.00% more
Average 1-year cash ISA: 4.42%; Pays 0.32% less
Best 1-year cash ISA: 4.95%; Pays 0.85% less

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

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Pros and cons

Pro: New and existing savers
Con: Not flexible: money you withdraw can't be replaced without using more allowance

Good to Know

£50.00 charge for any withdrawals.

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Estimated returns with M&S Bank's Cash ISA

What you could earn with M&S Bank's M&S 1 Year Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£41.00

At 4.1% AER

£5,000 saved

£205

At 4.1% AER

£10,000 saved

£410

At 4.1% AER

£20,000 saved

£820

At 4.1% 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 M&S Bank M&S 1 Year Fixed Rate Cash ISA

Jan WatermannCo-Founder, DepositScout

The M&S 1 Year Fixed Rate Cash ISA pays 4.10%, which is below the market average for cash ISAs and 1.15% behind the category leader at 5.25%. It does beat inflation by 1.00% against August 2026 CPI of 3.1%, so your money grows in real terms, but the rate is hard to justify when alternatives like Virgin Money's 1 Year Fixed Rate Cash E-ISA offer 4.77%. The minimum is £500, the maximum £20,000, and withdrawals are not permitted without a fee during the one-year term.

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