Top-tier Cash ISAs: Our Selection of Fixed-Rate and Easy-Access Offers
Title: Top Cash ISAs in the UK: Easy Access and High Interest Rates
Kickstart your savings journey with our roundup of the best Cash ISAs available in the UK. Our specialist journalists at This is Money have scoured the market to bring you the crème de la crème of tax-free deals - but it's slim pickings at the moment!
Easy Access Cash ISAs
Plum x Citi Bank Plum Cash ISA
- Minimum deposit: £100
- Interest rate: 5.06% (includes a 1.56% bonus rate for the first 12 months)
This easy-access ISA offers a high interest rate, with the bonus rate applying if you open an account before February 28, 2023. After the bonus period, the underlying rate remains competitive.
Trading 212
- Minimum deposit: £1
- Interest rate: 5.6% (includes a 1.6% bonus rate for the first 3 months, followed by a 4.0% base rate)
Trading 212 is another solid choice offering a true easy-access ISA. New customers can secure a 0.6% bonus rate for the first 3 months, while existing customers enjoy a base rate that surpasses many competitors.
Fixed-Rate Cash ISAs
If you prefer the safety of a higher interest rate by locking your money away, consider these top options:
OakNorth Bank - One-Year Fixed Rate
- Minimum deposit: Not specified
- Interest rate: 4.26%
Saffron Building Society and Ford Money - Two-Year Fixed Rate
- Minimum deposit: Not specified
- Interest rate: 4.2%
Both providers offer competitive rates if you're willing to lock your money away for two years.
Compare Features and Conditions
Consider the following features and conditions before choosing the right Cash ISA for you:
| Provider | Interest Rate (AER) | Type | Minimum Deposit ||--------------|------------------------|----------|---------------------|| Plum x Citi Bank | 5.06% (12-month bonus) | Easy Access | £100 || Trading 212 | 5.6% (3-month bonus) | Easy Access | £1 || OakNorth Bank | 4.26% | One-Year Fixed | - || Saffron Building Society | 4.2% | Two-Year Fixed | - |
Key Considerations
- Interest Rates: Higher interest rates often require locking your money away for longer periods.
- Flexibility: Easy-access accounts offer flexibility but typically lower rates compared to fixed-rate ISAs.
- Tax Benefits: All Cash ISAs provide tax-free interest on savings, which can be beneficial for higher earners.
- Protection: Savings are protected up to £85,000 per person under the Financial Services Compensation Scheme (FSCS) if the provider is regulated.
Maximum Allowance
- The annual ISA allowance is £20,000 for the 2025/2026 tax year, and you can open multiple ISAs as long as you stay within this limit.
Happy saving!
[1] https://www.thisismoney.co.uk/money/saving/article-11429711/As-Isa-season-dawns-how-claim-government-bonus.html[2] https://www.gov.uk/individual-savings-accounts-isas[3] https://www.citi.com/citi-online/uk/personal/banking/plum/plum-cash-isa.htm
- To begin your savings journey, explore our list of top Cash ISAs, featuring the Plum x Citi Bank Plum Cash ISA with a 5.06% interest rate (12-month bonus) and minimum deposit of £100.
- Trading 212 offers another great choice, providing a true easy-access ISA with a 5.6% interest rate (3-month bonus) for new customers and a base rate that beats many competitors.
- For those seeking the safety of higher interest rates, consider the OakNorth Bank One-Year Fixed Rate at 4.26% and the Saffron Building Society and Ford Money Two-Year Fixed Rate at 4.2%.
- Evaluate features and conditions before selecting the perfect Cash ISA, taking into account interest rates, flexibility, tax benefits, and protection.
- Keep in mind that higher interest rates often necessitate locking money away for longer periods, while easy-access accounts typically offer lower rates compared to fixed-rate ISAs.
- Tax-free interest, protection up to £85,000 per person under the Financial Services Compensation Scheme (FSCS), and flexibility are all important aspects to consider when choosing the right Cash ISA for your personal-finance and business needs.
