Compare the best cash ISAs which could help you earn returns as interest on money you save. Check for ISA interest rates that beat both inflation and the Bank of England base rate so you know the money you save really is growing.
| Best Cash ISAs | Description | Rate | Rate vs Current Inflation | Rate vs Bank of England Base | Security | Get Account |
|---|---|---|---|---|---|---|
 Trading212 |
Trading 212 offers an easy access cash ISA with an unbeatable rate, access money anytime and earn interest daily. | 5.17% | 2.57% (2.6%) |
0.42% (4.75%) |
FCA regulated and FSCS protected up to £85,000. Open within minutes with a deposit from £1. | Open Account |
| Trading 212 is offering a fantastic rate on their ISA which saw the savings rate increase despite a recent decrease in the Bank of England base rate. Save in different currencies including; EUR, USD, CHF, HUF, PLN, CZK, RON, DKK and more. 18+ U.K. residents only. | ||||||
 Moneybox |
Earn 5.17%, open with as little as £500, limited to 3 withdrawals every 12 months. | 5.17% | 2.57% (2.6%) |
0.42% (4.75%) |
FSCS protection up to £85,000, FCA regulated and biometric account protections | Open Account |
| While attractive in some ways Moneybox aren’t as flexible as the equivalent Trading 212 product, plus the 5.17% rate includes a bonus 0.47% rate for first 12 months which will drop. The minimum deposit is also much higher at £500, rate penalties apply if your balance falls below. Withdrawals limited to 3 over any 12 month period. 18+ U.K. residents only. | ||||||
 Paragon Bank |
Double access ISA account limited to 2 withdrawals per year. | 4.87% | 2.27% (2.6%) |
0.12% (4.75%) |
Fraud alerts, nominated bank account for withdrawals, FSCS, FCA | Create Account |
| FCA regulated and FSCS deposit protections with a competitive interest rate make the Paragon bank double access cash ISA an attractive option if you’re willing to lock your money away for around 12 months and limit withdrawls. 18+ U.K. residents only. | ||||||
 Virgin Money |
Virgin Money’s 1 year cash ISA acount let’s you pay money in anytime | 4.51% | 1.91% (2.6%) |
-0.24% (4.75%) |
FSCS protection Online and app access | Create Account |
| Virgin Money have a separate banking licence protecting your desposit up to £85,000. Virgin Money has recently been acquired by Nationwide, so this may change, but there’s no specific plans to merge the two providers. Interest rates are subject to change. Withdrawals can be taken at any time. Open your account online or in Virgin Money branches. 18+ U.K. residents only | ||||||
 Post Office |
Post Office easy access offers 4.30% interest rate for 12 months. | 4.30% | 1.70% (2.6%) |
-0.45% (4.75%) |
FCA regulated, FSCS protections, Secure two factor logins and biometric security | Create Account |
| Open your easy access Post Office ISA with just £100 (£500 for the fixed rate account). After 12 months the interest rate declines. Post Office ISA accepts transfers in. This account can only be opened and managed online. Make unlimited withdrawals but you’ll lose your tax free allowance. Minimum withdrawal of £10, minimum ISA balance is £1. FSCS protection up to £85,000 split between; Bank of Ireland UK, Post Office and AA Savings balance. 18+ U.K. residents only | ||||||
 Chip |
Savings and investments in one place aiming to grow your wealth | 4.58% | 1.98% (2.6%) |
-0.17% (4.75%) |
Shared FSCS protections with ClearBank up to £85,000 protection. FCA regulated | Create Account |
| Chip’s cash ISA earns you tax free interest, withdraw without impacting your allowance. ISA transfers are allowed with Chip. You cna open an account in minutes and save up to £20,000 in your ISA. Interest paid monthly. 18+ U.K. residents only | ||||||
Cash ISAs are a fantastic way to save money for a short term period and earn a consistent interest rate on your balance.
What should you consider when choosing a cash ISA?
Consider what you value most before you choose a cash ISA product to save into. Here are some of the most important considerations when choosing a savings product:
Cash ISAs can be the perfect option if:
- you want a guaranteed rate of return on your savings
- you need access to your money (although some accounts are “fixed” or limit withdrawals)
- you have a savings balance of up to £20,000 to save
- you haven’t yet used your £20,000 ISA allowance this financial year (2024 – 25 financial year 06th April 2024 – 05th April 2025).
You may prefer an alternative product type, like an investment account or stocks and shares ISA if:
- you’re willing to risk short to medium term losses for longer term growth
- you’re unlikely to need the money soon
- you’ve already used your ISA allowance but have more money to save or invest (a general investment account could work here)
- you’re looking for greater returns than cash ISAs can offer
- you’ve already paid your entire £20,000 allowance into either a cash ISA or a stocks and shares ISA this financial year.
It isn’t just about getting the best cash ISA savings rate but also about:
- access to withdraw your money when you need to
- how you can use, pay into, withdraw from and manage your account (online has largely replaced in-branch account options).
- beating the rate of inflation (if you can) because inflation erodes the value of your money if you’re saving at or below this rate you’re technically losing money
- the base rate of interest, if you have a tracker mortgage or are borrowing money, you may be better off putting the money towards paying down your debts.
Cash ISAs Compared
Generally, cash ISA savings products are designed to help you earn interest on the money you deposit while offering access to the money you have saved when you need it.
Cash ISAs that allow unrestricted access to your money are called easy access or instant access ISAs.
Other types of cash ISA can reward you, often with higher interest rates (and therefore better returns on the balance you deposit, but not always!), when you agree to lock your money away for fixed period of time.
These types of ISAs are called fixed rate cash ISAs.
Popular terms available for fixed rate cash ISAs include:
| Term | Interest Rate | Number of Years |
|---|---|---|
| 1 | 4.30% | Money locked away for 1 year |
| 2 | 4.55% | Money locked away for 2 years |
| 3 | 4.75% | Money locked away for 3 years |
| 5 | 5.00% | Money locked away for 5 years |
For example, if you’re solely interested in earning the best interest rate and don’t need the money for at least 12 months, you can factor in fixed rate cash ISA savings into your comparison.
Sometimes, the rate of return you’ll get for locking money away can be higher if you agree to a longer term of no or restricted access to your deposit.
Our table, for example purposes only, details how a provider might incentivise longer fixed term cash ISA deposits with higher rates for longer terms.
If you may need the money soon, then choosing an account which doesn’t limit your withdrawals and doesn’t issue interest penalties for making a withdrawal would best suit you.
How to use our Cash ISA comparison table
We’ve picked some of the best ISA providers who offer Cash ISA savings options and consolidated details of their products into our table.
We’ve included essential details like:
- the interest rate you can earn on your money
- the current rate of inflation (which is the rate at which your savings are eroded by continually rising prices)
- the Bank of England base rate of interest (which can affect the cost of borrowing, like your mortgage or loans)
- Security, FCA (Financial Conduct Authority) and FSCS (Financial Services Compensation Scheme) regulation and protections
- Minimum account deposits, withdrawal limits, access types and any other information
Key ISA considerations
Right now, the best cash ISA rate isn’t a fixed account, but an easy access account provided by the investing provider Trading212.
The account offers an interest rate of 5.17% on balances you deposit, accepts transfers of existing ISAs in and allows you to withdraw money whenever you need it.
As a variable rate ISA, the interest rate could drop at anytime and is arguably more likely to do so after the Bank of England base rate of interest reduction from 5% to 4.75% on Thursday 7th November 2024.
You can open the account within a few minutes using the Trading212 app.
Current fixed cash ISA rates are lower at around 4.47% for a one year agreement.
Other ISA Facts
Remember:
- you must be a UK resident to open an ISA
- you’ll need to prove your identity
- you’ll need to provide your National Insurance Number
- you have a maximum of £20,000 to contribute to an ISA each financial year
- FSCS protections are limited up to £85,000 but can be shared between banks, check the details of your new account provider carefully if you’re:
- exceeding £85,000
- you already have deposits invested in another account with them
- they share a banking licence with another provider or bank