What interest rate does the M&S Bank M&S 3 Year Fixed Rate Cash ISA pay?

The M&S Bank M&S 3 Year Fixed Rate Cash ISA pays 4.15% AER fixed.

How much interest could I earn?

Saving £10,000 for 3 years would earn about £1,297 at 4.15% 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 three-year cash ISAs?

At 4.15% AER it ranks 27th of 31 three-year cash ISAs we track. The best pays 5.13% and the average is 4.63%.

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Cash ISA

M&S Bank M&S 3 Year Fixed Rate Cash ISA Review

Q: Can I withdraw my money?

Access: No withdrawals without a fee.

A three-year cash ISA from M&S Bank. It ranks 27th of 31 three-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 3 years

4.15%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 27th of 31

3-year cash ISAs we track

Below average

This account 4.15%

UK CPI (Aug 2026): 3.10%; Pays 1.05% more
Average 3-year cash ISA: 4.63%; Pays 0.48% less
Best 3-year cash ISA: 5.13%; Pays 0.98% 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

£100.00 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 3 Year Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£130

At 4.15% AER

£5,000 saved

£649

At 4.15% AER

£10,000 saved

£1,297

At 4.15% AER

£20,000 saved

£2,595

At 4.15% AER

Estimated over the 36-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 M&S Bank M&S 3 Year Fixed Rate Cash ISA

Jan WatermannCo-Founder, DepositScout

At 4.15%, this three-year fixed cash ISA from M&S Bank sits below the market average for cash ISAs and trails the category leader by 1.10%, which is a meaningful gap. It does at least beat August 2026 CPI of 3.1% by 1.05%, so your money grows in real terms, but savers willing to shop around can do considerably better. Hampshire Trust Bank's 3 Year Online ISA Fixed Saver pays 4.83% on the same term, for instance. The real catch here is the no-withdrawal rule for three years, and the £20,000 cap limits how much you can shelter.

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