What interest rate does the Paragon Bank 1 Year Fixed Rate Cash ISA pay?

The Paragon Bank 1 Year Fixed Rate Cash ISA pays 4.40% AER fixed.

How much interest could I earn?

Saving £10,000 for 1 year would earn about £440 at 4.40% 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 £500,000.

When is interest paid?

You can choose to have interest paid monthly, annually or on each anniversary of opening.

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 4.40% AER it ranks 25th of 47 one-year cash ISAs we track. The best pays 4.92% and the average is 4.37%.

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Cash ISA

Paragon Bank 1 Year Fixed Rate Cash ISA Review

A one-year cash ISA from Paragon Bank. It ranks 25th of 47 one-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

Fixed rate · 1 year

4.40%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£500

Max balance

£500,000

Term

1 Year

Interest paid

Monthly/Annually/Anniversary

Transfers in

Accepted

How It Stacks Up

Ranks 25th of 47

1-year cash ISAs we track

Just above average

This account 4.40%

UK CPI (Aug 2026): 3.10%; Pays 1.30% more
Average 1-year cash ISA: 4.37%; About the same
Best 1-year cash ISA: 4.92%; Pays 0.52% less

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

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A Good Fit For

Pro: Savers who want a monthly income

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Estimated returns with Paragon Bank's Cash ISA

What you could earn with Paragon Bank's 1 Year Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£44.00

At 4.4% AER

£5,000 saved

£220

At 4.4% AER

£10,000 saved

£440

At 4.4% AER

£500,000 saved

£22,000

At 4.4% 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 Paragon Bank 1 Year Fixed Rate Cash ISA

Jonny PeaseCo-Founder, DepositScout

Paragon Bank's 1 Year Fixed Rate Cash ISA pays 4.40%, which at least beats CPI inflation of 3.1% by 1.30%, so your money holds real value over the term. That said, the rate sits below the cash ISA market average and is 0.72% behind the current market leader at 5.12%, so it is not the sharpest one-year ISA deal around. It accepts transfers in and requires a minimum of £500, which suits most savers, but the money is locked for the full year. If you want flexibility, the HL Cash ISA is available at 4.52% with easier access.

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