Applying for a Saga 1 Year Fixed Rate ISA Account

A fixed rate ISA, designed for those looking to make the most of their annual ISA allowance and secure a fixed tax free rate of interest.

1. Check that you’re eligible

  • You are 50 or over

  • You are a UK resident for tax purposes.

2. Have the following handy

  • Your bank details

  • Your permanent residential address details

3. Choose

  • Choose the type of account you’re looking for, press the ‘Apply now’ button and complete the simple online application process (this normally takes around 5 minutes).

Saga Savings accounts are provided by Birmingham Midshires

1 Year Fixed Term ISA

 Monthly interest
 Yearly interest



Tax free/AER



Tax free/AER
Withdrawals permitted subject to a charge.
You can withdraw and replace funds within the same tax year without effecting your yearly ISA allowance providing your Fixed Rate ISA is still on offer.

Withdrawals explained

You may request withdrawals by post, subject to a charge. 

The charge will depend on the remaining term of the account and is the equivalent number of days' tax free interest. We’ll deduct the charge from your account balance. 
Depending on when you make the withdrawal, this may result in you getting back less than you originally deposited. We apply charges as follows (equivalent in days’ tax free interest):

  • Less than 1 year remaining on term = 90 days charge


Important information

Payment of interest

If you choose yearly interest we’ll calculate it daily and pay you on the anniversary of your deposit. We can pay yearly interest back into the account, to another Saga Savings account or to another UK bank or building society account that accepts faster payments. Please note that where the term of the account is for 12 months or less, we must pay yearly interest into the Account. Please see the Account conditions for more information.

If you choose monthly interest we’ll calculate it daily and pay it monthly on the first day of each month. Monthly interest can be paid to your account, to another Saga Savings account or to another bank or building society account that accepts faster payments. Interest paid to another account can be replaced in the same tax year by replacement subscriptions to your Account.

Cancellation Period

Saga Fixed Rate ISAs have a 14 day cancellation period.

Notice of maturity

We’ll write to you prior to your account maturing to give you instructions on what to do next. If we receive no reinvestment instructions, we’ll re-invest your funds at maturity into a variable rate easy access ISA of our choice.


Please read the General Savings Conditions together with the Account conditions.

If there’s any conflict between the General Savings Conditions and the Account Conditions then the Account Conditions shall have priority. 

The General Savings Conditions apply to all Saga Savings accounts provided by Birmingham Midshires.

To view the General Savings Conditions you'll need Adobe Acrobat Reader.

Fees and charges

Account withdrawal

Please refer to the “Withdrawals explained” section near the top of this page.

Telegraphic Transfer

We can make a same day transfer of money from your account directly to another UK bank account electronically. This costs you £35 and we’ll require your instruction in writing no later than 2pm Monday to Friday. 

Financial Services Compensation Scheme

Read full details of the Financial Services Compensation Scheme.

Historical Rates

Review the historical rates of previous savings products

Privacy Policy

Read our full privacy policy.

Who is the provider and how are they regulated?

The deposit taker for Saga Savings accounts is Birmingham Midshires, a division of Bank of Scotland plc, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628. Registered office: The Mound, Edinburgh, EH1 1YZ. Registered in Scotland No. SC327000.

We’re here to help

Call to find out more

Mon – Sat 8am-8pm (excluding bank holidays)