Fixed rate ISA early withdrawal penalty calculator

See what it costs to take money out of a fixed rate Cash ISA before the fix ends, or to transfer it, and whether a better rate elsewhere would earn that charge back in time. Your account's own terms set the exact charge.

How much you would take out or move

Your balance, or the part you would take out.

Your fixed rate (AER)

Months left on your fix

How the charge is worked out

Charge, in days of interest

Check your account's terms. In our table, the most common charge is 90 days' interest on a 1-year fix, 180 on a 2-year fix, 270 on a 3-year fix and 365 on a 5-year fix.

The rate you could move to (AER)

Best rates in our table on 30 October 2026, among accounts that take transfers in. An easy access rate can change at any time.

What breaking your fix would cost

Early withdrawal charge

£98.63

90 days' interest at 4.00% on £10,000

Better off if you stay

£4

By the end of your fix, in 12 months

Staying leaves you £4 more. To make moving worth it, the new rate would need to beat 5.04%.

Compared over the 12 months left on your fix, with both rates treated as AERs and assumed not to change.

If you stay: interest to the end of your fix: £400.00
If you move: early withdrawal charge: £98.63
If you move: interest at 5.00%: £495.07
Rate needed to break even: 5.04%
Time to earn back the charge: About 13 months

If you have not yet earned as much interest as the charge, some providers take the rest from your savings, so you could get back less than you put in.

How the early withdrawal penalty is worked out

Most fixed rate Cash ISAs charge a set number of days' interest on the amount you take out. It is worked out as the amount × the rate × the days ÷ 365. On £10,000 at 4% AER, 90 days' interest is £98.63.

Some accounts charge a percentage of the amount or a flat fee instead, and some do not allow partial withdrawals, so the only way out is to close the whole account. In our table of 114 fixed rate Cash ISAs, the most common charge is 90 days' interest on a 1-year fix, 180 days on a 2-year fix, 270 days on a 3-year fix and 365 days on a 5-year fix.

Is it worth breaking a fixed rate ISA?

Only if the new rate earns back the charge before your fix would have ended. The charge comes off your savings straight away, so the new account starts with less money and has to make it up through its higher rate.

Take £10,000 fixed at 4% AER with 12 months left and a charge of 90 days' interest. The charge is £98.63. At 5.00%, the best 1-year fixed rate in our table that takes transfers in, moving would leave you £4 less by the end of the fix. Moving only comes out ahead if the new rate beats 5.04%.

A longer fix changes the sums. With £20,000 fixed at 4.5% AER, 24 months left and a charge of 180 days' interest, the charge is £443.84 and the new rate would need to beat 5.68%. The more months you have left, the more time a higher rate has to earn the charge back. But a longer fix usually comes with a longer charge, and that costs more.

Transfer the ISA, do not withdraw it

To keep the money tax-free, ask the new provider to arrange an ISA transfer. gov.uk says that if you withdraw the money without doing this, you will not be able to reinvest that part of your tax-free allowance again, and that a transfer between Cash ISAs should take no longer than 15 working days.

Most fixed rate ISAs apply the same charge to a transfer out as to a withdrawal, and gov.uk says providers may make you pay a charge.

If your fix ends soon, you can ask for the transfer to happen once it ends. HMRC's guidance for ISA managers says a provider can take a revised instruction to transfer after the product reaches maturity, which avoids the penalty, and the 15 working day timetable can start on a later date you set. See how ISA transfers work.

What this calculator leaves out

Interest earned so far. If you have not yet earned as much interest as the charge, some providers take the rest from your savings, so you could get back less than you put in. The calculator takes the whole charge off the amount you move.
Partial withdrawals. Many fixed rate ISAs only let you close the whole account, so check whether you can take out just part of it.
Time in transit. A transfer between Cash ISAs should take no longer than 15 working days, and the calculator does not allow for that time.
Rate changes. The calculator assumes both rates stay the same. An easy access rate is variable and can change at any time, while a new fixed rate stays the same for its term.
After your fix ends. The comparison stops on the date your fix would have ended, when you could move without a charge.

To compare rates, see our fixed rate Cash ISAs and easy access Cash ISAs, and read more about taking money out of an ISA.

Tax treatment depends on your circumstances and may change. This is not financial advice.

Questions people ask

Can you withdraw money from a fixed rate ISA early?

Usually, at a cost. Most fixed rate Cash ISAs let you close the account or transfer it before the fix ends in exchange for an early withdrawal charge, often a number of days' interest. Some do not allow partial withdrawals, only closing the whole account. Your account's terms say which applies.

How is a fixed rate ISA penalty calculated?

Most providers charge a set number of days' interest on the amount you take out. On £10,000 at 4% AER, 90 days' interest is £98.63 (£10,000 × 4% × 90 ÷ 365). Others charge a percentage of the amount or a flat fee.

Can the penalty come out of my savings?

Yes, with some providers: if you have not yet earned as much interest as the charge, the rest can be taken from your balance, so you could get back less than you put in.

Do I pay the penalty if I transfer my fixed rate ISA?

Usually. Most fixed rate ISAs treat a transfer out before the fix ends like a withdrawal and apply the same charge, and gov.uk says providers may make you pay a charge to transfer. If the fix ends soon, you can ask for the transfer to happen when it ends.

Is it worth breaking a fixed rate ISA for a better rate?

Only if the higher rate earns back the charge before your current fix would have ended. The calculator shows the rate you would need to beat and how long the charge would take to earn back.

What happens when my fixed rate ISA ends?

You can move the money without an early withdrawal charge once the fix ends. Providers normally contact you before then; if you do nothing, the money usually moves into a variable rate account with the same provider.