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  • 3 Year Fixed Rate cash ISA

    1.55% AER*

     

    *AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.

Key Benefits

Key benefits

  • A fixed rate of 1.55% AER*
  • A tax-free return now and in the future
  • Receive your interest monthly or annually
  • Simple and straightforward saving
  • Transfer existing ISAs from other providers
  • Save from £500 up to £100,000
I am
What you will need to apply
  • Your contact details
  • Your email address
  • Details of the UK current account, in your name (either as sole or joint holder), that you would like to set up as your nominated account
  • National Insurance number
  • Existing ISA account details if transferring
  • Power of attorney. If you are applying for this account as a power of attorney, you will need to call our customer services team on 0800 052 2222 to complete your application. For further information about power of attorney please visit our helpful information

Summary

Summary box

Account name 3 Year Fixed Rate cash ISA
What is the interest rate? Annual 1.55% Gross** / AER*
Monthly 1.54% Gross** / 1.55% AER*
*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded on an annual basis.
** Gross is the rate of interest payable before any income tax is deducted.
Interest will be paid monthly on the day of the month you first paid into your account or annually on the anniversary of making your opening payment.
Can Paragon Bank change the interest rate? No. The interest rate is fixed for the fixed rate period.
What would the estimated balance be after 36 months based on a £1,000 deposit? £1,047.22 based on £1,000 over 36 months at 1.55%

This is for illustrative purposes only and does not take into account individual circumstances.
How do I open and manage my account? Online. Minimum balance £500 up to a maximum of £100,000 (plus any resulting interest). Account holders must be aged 18 or over and a UK resident for tax purposes.
Can I withdraw money? Withdrawals prior to your fixed term ending are subject to 270 days’ loss of interest. We will write to you before your fixed term ends to give you instructions on what to do next.
Additional information You have up to 30 days from the date of your application to make your opening payment.

Provided you make your opening payment within 14 calendar days of your application we’ll guarantee the interest rate shown when we received your application or, if higher, the rate on our website at the time you make your opening payment.

If rates change after 14 calendar days and you haven’t made your opening payment, we’ll pay the rate advertised on the day we receive your deposit.

You can only make new subscriptions by electronic transfer or cheque from the nominated account you choose during your application. This account must be in the name of the Paragon Bank account holder.

Transfers from an existing ISA provider are also permitted.
Important Information
  • All electronic or cheque deposits must be made from your nominated bank account. This account must include the name of the Paragon Bank ISA holder
  • If you are unable to make your opening payment in a single payment – perhaps due to limits on electronic payments set by your bank – we can accept additional payments into your account for 15 business days after we receive your opening payment
  • Unless you provide us with alternative instructions when your fixed rate term ends, your ISA will automatically switch to an Easy Access cash ISA which you can access at any time
  • We are registered under the Financial Services Compensation Scheme (FSCS) which means your eligible savings are protected up to the statutory limit of £85,000
  • If you change your mind about opening an account, you have the right to close your account within 14 days of receiving your welcome pack
  • Before you apply for your account please make sure you have read and understand both our Product Terms and Conditions and General Terms and Conditions
Open your account today. I am
Image of Savings customer John Cattanach who have shared their story with Paragon Bank
Clear in communications
Clear in communications

John Cattanach

District Councillor for Cawood and Wistow, John Cattanach, joined Paragon Bank in 2015 and became one of our first ISA customers, choosing a Two Year Fixed Rate ISA in May this year. Before depositing any money, John conducts very thorough internet research to ensure he is getting a competitive interest rate, as this is the most important deciding factor for him when choosing an account.

John said:

Since opening an account with you, Paragon has become one of my favourite banks. Not only was I impressed with your ISA rates, but I found you to be a very savvy internet bank, providing a product that I want simply and efficiently. My contact with Paragon Bank has been problem free.

John also found the process of opening the account online very easy and will look at our rates in the future when looking to open further accounts.

Online ISA transfer
Online ISA transfer

Andrew Boston

After shopping around for a good interest rate, retired finance manager, Andrew Boston decided to apply for a Paragon Bank Two Year Fixed Rate ISA.

Andrew was organising a transfer from a previous ISA provider and was impressed to find that he could complete the transfer form online.

The ability to request the transfer of funds from my previous provider as part of the online application process felt like a real step forward. In the past, with other banks, I’ve always had to fill out a paper form to do this part of the process.

Andrew was also pleased with the telephone support that he received:

Not only was the online application process straightforward but when I did ring up, I found the staff both helpful and proactive in dealing with my enquiry.

Efficient ISA transfer
Efficient ISA transfer

Greg Haycock

Midlands-based, Greg Haycock was one of the very first customers to open a Paragon Bank ISA, opting for a Two Year Fixed Rate ISA.

Keen to find an ISA that he could open and manage online, Greg took no time getting to grips with Paragon Bank’s online ISA application and transfer process:

The transfer was much quicker than anticipated. I did all the paperwork online, including the application and transfer form and Paragon Bank took it from there. The account was easy-to-set up and the system is easy-to-use

Your eligible deposits with Paragon Bank are protected up to a total of £85,000 by the
Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme.
See how you're protected
Paragon Bank PLC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England number 05390593. Registered office 51 Homer Road, Solihull, West Midlands B91 3QJ. Paragon Bank PLC is registered on the Financial Services Register under the firm reference number 604551