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Personal savings accounts

Choose the best savings account for you from our range of fixed rate accounts, cash ISAs, notice and easy access accounts.
We’re proud to offer consistently competitive rates, in our range of savings accounts and cash ISAs.

Fixed Rate Accounts

1 Year account

0.80%

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2 Year account

0.90%

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3 Year account

1.00%

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5 Year account

1.05%

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Learn more about fixed rate accounts

Why choose a fixed rate account?

Fixed rate accounts offer you a higher rate of interest in return for locking your money away for a period of time, usually between one and five years. Typically, the longer you choose the higher the rate will be.

Once you’ve chosen your rate, this will remain the same during the fixed period meaning you will know exactly how much interest you’ll earn by the end of your term.

  • Know exactly how much you'll earn
  • Choose monthly or annual interest
  • Tax-free within your Personal Savings Allowance or as a cash ISA
  • Higher interest with longer term

What else should I know?

Making deposits - Once you’ve opened an account, you will need to make your opening deposit into the account. This is a lump sum one off amount and as the account is fixed you will not be able to add further deposits during the rest of the term.

Withdrawals - You will only be able to withdraw your money from your account when the fixed rate term comes to an end, known as your maturity.

Personal savings allowance - Launched in 2016, the personal savings allowance allows you to earn interest on your savings tax-free. There are limits depending on your tax banding. Currently £1,000 for lower rate tax payers, £500 for higher rate but if you earn more than £150,000 the personal savings allowance doesn’t apply.

Fixed rate accounts explained

Fixed Rate Cash ISA

1 Year ISA

0.60%

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2 Year ISA

0.70%

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3 Year ISA

0.75%

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5 Year ISA

0.85%

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Learn more about cash ISAs

Why choose a cash ISA?

An ISA is an ‘Individual Savings Account’ that allows UK taxpayers to benefit from tax-free interest on their savings.

Our Cash ISAs are flexible which means you can withdraw and replace the money in your Paragon ISAs without affecting your ISA allowance. And, our ISA wallet means you can spread your allowance across our ISA range.

Available as easy access, notice and fixed rates. To have a cash ISA with us you must be at least 18 years old and a UK resident.

  • Earn tax-free interest
  • Easily transfer existing ISAs
  • Freedom and flexibility with our flexible ISAs and ISA Wallet
  • You choose monthly or annual interest

What is the ISA allowance?

Each tax year (6th April to 5th April) the government sets a maximum amount you can invest into an ISA. This can be split between a cash and a stocks and shares ISA. You can find details of this year's ISA allowance here

Cash ISAs explained
Paragon Bank’s savings accounts are simple, clear and easy to understand

- Lee Renaut

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