Cash ISA

OakNorth Bank 24 Months Fixed Rate Cash ISA Review

One of the best-paying two-year cash ISAs, from OakNorth Bank. It ranks 4th of 44 two-year cash ISAs we track.

Fixed rate · 2 years

5.02%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£1

Max balance

£20,000

Access

2 Years

Interest paid

Monthly

Transfers in

Accepted

How It Stacks Up

Ranks 4th of 44

2-year cash ISAs we track

Among the best
This account 5.02%
UK CPI (Aug 2026)
3.10%
Pays 1.92% more
Average 2-year cash ISA
4.50%
Pays 0.52% more
Best 2-year cash ISA
5.05%
About the same

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

Compare cash ISAs

A Good Fit For

  • Pro: New and existing savers
  • Pro: Savers who want a monthly income

Worth Weighing Up

  • Con: Not flexible: money you withdraw can't be replaced without using more allowance

Please verify all details with the provider – see our Disclaimer

See all OakNorth Bank accounts

Estimated returns with OakNorth Bank's Cash ISA

What you could earn with OakNorth Bank's 24 Months Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£103

At 5.02% AER

£5,000 saved

£515

At 5.02% AER

£10,000 saved

£1,029

At 5.02% AER

£20,000 saved

£2,058

At 5.02% 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 OakNorth Bank 24 Months Fixed Rate Cash ISA

Jonny PeaseCo-Founder, DepositScout

OakNorth Bank's 24 Months Fixed Rate Cash ISA pays 5.02%, which sits above the cash ISA market average but 0.10% behind the category leader at 5.12%. It beats August 2026 CPI of 3.1% by 1.92 percentage points, so your money grows in real terms. The cap of £20,000 means it suits ISA-year top-ups rather than larger transfers. The main catch is the 90-day interest penalty for early withdrawal, so only commit money you can leave untouched for two years.

Compare Cash ISAs

2 alternatives to OakNorth Bank's 24 Months Fixed Rate Cash ISA

Same type of account, closest on rate.

Common questions about the 24 Months Fixed Rate Cash ISA

D

DepositScout Alerts

2 minutes ago

Easy Access rate just dropped

A top provider just cut their rate. Here's what you need to know about the latest market shift.

Nationwide FlexSaver Rate Down
4.20% AER
4.75%
View Best Rates
Live Market Tracking

Be the first to know when this OakNorth Bank rate drops.

Join 1,000+ savers using DepositScout who get instant email alerts when top UK savings rates change. Never miss out on a better deal again.

Takes 30 seconds · No spam · Unsubscribe any time