It is a savings product that pays a fixed rate for a fixed term, held inside a Cash ISA so the interest is tax free. At Meteor, the Cash ISA is the wrapper and the fixed term product sits inside it.

Yes. Your Meteor Cash ISA is a single account that acts as the wrapper for your tax free savings. Within it, you can hold as many ISA-eligible savings products as you desire, all at once.

For example you could hold a 1 year fixed product, a 2 year fixed product and an easy access product at the same time, each with a different UK-authorised bank, all inside the same ISA. New payments in each tax year are subject to your annual ISA allowance.

Generally, no. Fixed term products are designed to be held to maturity. All fixed term deposit ISAs have a 14 day cooling off period. After that, a fixed term product cannot usually be accessed before its maturity date except in very limited circumstances.

Some savers keep part of their money in an easy access product for this reason. Your Meteor Cash ISA can hold both at once. This is general information, not a recommendation about what is right for you.

Your capital and interest is returned to your Meteor ISA Holding account. You can then choose another ISA-eligible savings product, with a competitive rate, within the same ISA. Because you are already registered and verified, there is no new registration required, no new identity check and no new ISA transfer.

With a single bank Cash ISA, a maturing fixed term often moves into a lower variable rate unless you give new instructions, and moving elsewhere usually means starting again.

Yes, and it is the same journey as opening one. You open your Meteor Cash ISA first, then request the transfer from inside your account. There is no separate transfer application to make before you have an account.

We contact your existing ISA manager and manage the transfer for you, and your savings stay tax free throughout.

Transferring in does not use up your annual ISA allowance, however much you move. Transfers typically take up to 15 working days, depending on your existing provider. 

Usually yes, but your existing ISA manager may charge you for doing so. Providers of fixed term products commonly apply an early exit charge, often a set number of days interest, if you move before the maturity date. Check your existing provider's terms before you start, so you know what it would cost.

Many savers wait until maturity instead. You can open your Meteor Cash ISA at any time, so it is ready and waiting when your current fixed term ends.

Eligible deposits are protected by the Financial Services Compensation Scheme up to £120,000 per person, per authorised bank or banking group. Anything above that limit with the same bank or group is not covered.

Because your Meteor Cash ISA can hold products from many different UK-authorised banks, a larger balance can be spread across more than one banking group inside the same ISA. Some brands share a banking licence, in which case the £120,000 limit applies to the combined balance. Eligibility conditions apply. You can check what is covered at fscs.org.uk.

In Shariah-compliant savings accounts, instead of interest, an Expected Profit Rate is used to indicate the potential return on savings. This rate reflects the profit the bank anticipates earning from Shariah-compliant investments made with the deposited funds. While not guaranteed, the Expected Profit Rate provides an estimated return, and banks generally aim to pay out the advertised rate.

A deposit that returns your original capital at maturity and pays the rate shown, with a bonus on top only if defined conditions are met over the term.

It has more moving parts than a standard fixed rate product, so read the product terms in full before you apply.

Nothing. Meteor Savings is free for you to use. We do not charge you any fees, and on fixed term and notice products we do not take a share of the interest the banks pay.