Close Brothers Savings has boosted its fixed-rate Cash ISA to 4.36% this week. Its 1 Year Fixed Rate Cash ISA has earned an 'excellent' rating among finance experts at Moneyfactscompare for its "competitive" offer.

Based on the current interest rate, anyone who deposits £10,000 would earn £436 tax-free by the end of the one-year term. Brits can currently save up to £20,000 per year in an ISA, and savers have until April 5 to use up this year's allowance. However, this account is for savers who can afford to put away a large lump of cash, since the minimum opening amount is £10,000 and no withdrawals are permitted.

Early access will be penalised with a 90-day loss of interest, and the account being closed.

Commenting on the deal, Caitlyn Eastell, Personal Finance Analyst at Moneyfactscompare.co.uk, said: "Close Brothers Savings has increased the rates on its range of Fixed Rate Cash ISAs this week.

"The one-year option now pays an attractive 4.36% and takes a competitive position in the top tables. Savers will need to deposit at least £10,000 but further additions are permitted for 10 days from the account opening, which may be a bonus for some.

"While earlier access is permitted, investors should consider access carefully as they will be hit with a 90-day loss of interest penalty and closure of the account.

"Overall, this may be an enticing option for savers wanting to maximise and guarantee their tax-free savings for the 2026/27 year. On assessment, the deal earns an Excellent Moneyfacts product rating."

As of April 2027, the ISA landscape will change drastically. While the overall allowance will remain the same, anyone under 65 will be limited to saving £12,000 annually in a Cash ISA from April 2027.

Any remaining allowance must be used in other accounts, such as a Stocks & Shares ISA or a Lifetime ISA. Labour said it was designed to encourage more investment and to support investment in UK companies, but not all MPs agree with the decision.

To open an account with Close Brothers Savings, Brits must do so online and make any additional deposits within the first ten days. Moving forward, they can manage their account online, by phone and by post.