Get a fixed 4.27% on your savings, tax free

By opening a Tembo Fixed Rate Cash ISA, you will agree to lock away your funds for a 12-month period, in return for earning a fixed rate of interest. This means for that set time period, your interest rate will not change once you open and fund the account. We may however change the interest rate for new Fixed Rate Cash ISA accounts in the future.

Unlike other Fixed Rate Cash ISAs, with a Tembo Fixed Rate Cash ISA, you can make further one-off contributions into the account after you’ve opened it. This allows you to keep locking your money away for your long-term goals as you have more funds available. New funds added to your Fixed Rate Cash ISA will instantly lock in for 12 months from the date they're added, at the rate available at the time. This rate may be different from the rate your initial deposit locked in at when you first opened the account.

The Tembo Fixed Rate Cash ISA is not designed to be an account where you can make as many withdrawals as you like. By depositing your money into this account, you’re agreeing to lock away your money for 12 months to benefit from a fixed rate of interest for that period. You can withdraw money from a Tembo Fixed Rate Cash ISA, but doing so will incur a charge equivalent to 90 days' interest on the amount withdrawn. If you need access to your money, consider using our easy access Cash ISA so you can make as many withdrawals as you like without incurring a charge.

When your Tembo Fixed Rate Cash ISA reaches the end of the fixed term, which is known as ‘maturity’, your account will automatically transfer into a Tembo Cash ISA Hub Account unless you tell us otherwise when we contact you before maturity. If you’ve made further contributions to your Tembo Fixed Rate Cash ISA after the initial deposit, these deposits will have their own start date, interest rate and maturity date.

Tembo uses national, trusted banks to hold client funds deposited into Tembo ISA accounts. This is due to strict rules prescribed by the FCA to ensure that customer funds are separate from our funds and ring-fenced. This means that if Tembo were to cease operating, your funds are protected. Each of our partner banks is also FSCS-protected, which means that if one of these banks were to go into default, your money would be protected up to £85,000 per eligible person, per bank.