What interest rate does the TSB 2 Year Fixed Rate Cash ISA pay?

The TSB 2 Year Fixed Rate Cash ISA pays 4.75% AER.

How much interest could I earn?

Saving £10,000 for 2 years would earn about £973 at 4.75% AER. This assumes the rate stays the same and interest stays in the account.

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 TSB customers can open it. You can open it online, in branch 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 two-year cash ISAs?

At 4.75% AER it ranks 14th of 44 two-year cash ISAs we track. The best pays 5.05% and the average is 4.50%.

Dashboard

Cash ISA

TSB 2 Year Fixed Rate Cash ISA Review

A competitive two-year cash ISA from TSB. It ranks 14th of 44 two-year cash ISAs we track.

Rate checked Oct 2026Got this account? Leave a review

2 years

4.75%AER

Rate checked Oct 2026Got this account? Leave a review

Protection

FSCS£120,000

Min balance

£0

Max balance

No limit

Access

At maturity only

Interest paid

On maturity

Transfers in

Accepted

How It Stacks Up

Ranks 14th of 44

2-year cash ISAs we track

Above average

This account 4.75%

UK CPI (Aug 2026): 3.10%; Pays 1.65% more
Average 2-year cash ISA: 4.50%; Pays 0.25% more
Best 2-year cash ISA: 5.05%; Pays 0.30% 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 2 years

Good to Know

Applicants must be 18 or over and a UK resident; existing TSB Cash ISA holders under 18 may also apply. Can be opened online, in branch, or via telephone banking.

Please verify all details with the provider – see our Disclaimer

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Estimated returns with TSB's Cash ISA

What you could earn with TSB's 2 Year Fixed Rate Cash ISA.

Estimated interest

£1,000 saved

£97.26

At 4.75% AER

£5,000 saved

£486

At 4.75% AER

£10,000 saved

£973

At 4.75% AER

£50,000 saved

£4,863

At 4.75% 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 TSB 2 Year Fixed Rate Cash ISA

Jan WatermannCo-Founder, DepositScout

TSB's 2 Year Fixed Rate Cash ISA pays 4.75% AER, which sits above the market average for cash ISAs but is 0.37% behind the category leader at 5.12%, so it is a decent but not standout option. The rate does beat inflation by 1.65 percentage points against CPI of 3.1% as of Aug 2026, which at least means your money is growing in real terms. It accepts ISA transfers in, which is useful if you want to consolidate existing ISA pots. The main catch is that there is no access until maturity, so you need to be comfortable locking your money away for two years.

Compare Cash ISAs

2 alternatives to TSB's 2 Year Fixed Rate Cash ISA3 alternatives to TSB's 2 Year Fixed Rate Cash ISA

Same type of account, closest on rate.

Common questions about the 2 Year Fixed Rate Cash ISA

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