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Cash ISAs

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  • Grow your savings tax-free today

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  • Choose from easy access to fixed rate accounts

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Our top cash ISA rates

We search the market to bring you the best deals from the leading high street names. Accurate as of Wednesday, 19 June 2024

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Chip Cash ISA (powered by ClearBank)

  • Interest Rate (AER)

    5.1% Variable

  • Notice Period


  • Min/Max Deposit

    £1.00 to £85,000.00

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Leeds Building Society

Limited Issue Online Access ISA (Issue 73)

  • Interest Rate (AER)

    4.75% Variable

  • Notice Period


  • Min/Max Deposit

    £1,000.00 to No limit

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Saga Cash ISA

  • Interest Rate (AER)

    4.55% Variable

  • Notice Period


  • Min/Max Deposit

    £1.00 to £100,000.00

What is a cash ISA?

  • Tax-free savings. A cash ISA is a savings account that lets you earn interest without paying tax

  • Limits apply. You can save up to £20,000 per person each tax year (which runs from April to April) in cash ISAs tax-free.

  • Now more flexible. As of the 2024-2025, you can open as many cash ISAs as you like during the period, provided you stay within the £20,000 annual subscription limit.

How do cash ISAs work?

  • Compare deals. Our handy comparison tables show a wide range of cash ISA accounts from leading UK providers.

  • Complete application. Choose an account and click through to the provider to start your application

  • Start saving tax-free. Open your ISA and make a deposit. Earn tax-free interest on up to £20,000 each year.

Why is now a good time to open a cash ISA?

Interest rates have risen from historically low levels in the past two years. When interest rates rise, so too do savings rates, and this means you should be able to earn a greater return on a cash ISA.

A cash ISA’s tax-free returns are also particularly good news if you have maxed out your personal savings allowance. It allows you to continue building a bigger saving pot without having to pay any more tax.

As of June 2024, the Bank of England interest rate is 5.25%. For example, if you were to invest the full £20,000 into a top-rated cash ISA at 5.1%, you would earn £1,020 a year, assuming the rate remained the same.

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What are the different types of cash ISAs?

There is a wide range of different types of cash ISA available. See which might suit you best:

  • 1

    Easy access ISA

    An instant or easy-access account means you can withdraw your funds at any time if you need them – great for short-term borrowing, such as for a wedding, car or a holiday. Interest rates will be variable.

  • 2

    Regular saver ISA

    With a regular cash ISA account you can save up to a maximum amount each month, such as £250, but you’ll typically earn a higher interest rate. This type of cash ISA could suit those who want to get into a savings habit.

  • 3

    Junior ISA

    Children can save into their own Junior ISA – or JISA – up to the age of 18. The annual maximum savings limit is £9,000. The money is locked away until the child reaches the age of 18.

  • 4

    Fixed rate ISA

    If you can put your savings away for a longer time frame a fixed rate cash ISA could reward you with higher interest. Make sure you’re comfortable giving up access to your funds for a year or more.

  • 5

    Lifetime ISA

    A Lifetime ISA is a UK government scheme allowing individuals under 40 to save for a first home or retirement, offering a 25% bonus on contributions up to £4,000 annually.

  • 6

    Notice ISA

    A notice ISA is a type of savings account where withdrawals require advance notice, typically 30 to 180 days. It offers tax-free interest on savings, providing flexibility with higher interest rates than standard accounts.

Can I switch my ISA from previous tax years?

Yes, you can apply to transfer your cash ISA funds into a new ISA account, but check the terms and conditions because not all cash ISAs accept transfers.

Never close down the cash ISA account and withdraw the money or you will lose the tax-free status of the money. To preserve the cash ISA status you must do a transfer, which your provider can help to arrange.

piggybank savings

What are the pros and cons of cash ISAs?

Saving with a tax-free cash ISA has advantages and disadvantages. Here are some of the main things to consider:

  • Tick


    • Save tax-free – you don’t need to worry about any tax liability on your savings interest

    • Competitive interest rates – some cash ISAs pay more than standard savings accounts

    • Choose fixed or variable rates – some accounts pay a bonus rate

  • Cross


    • Limit on deposits – tax-free savings capped at £20,000 each tax year

    • Rules on new accounts – cash ISA funds have to be transferred to new ISAs to preserve their tax-free status. Exit fees can apply

    • Interest rates may fall – high rates often fall after a year

How to choose the best cash ISA

Easy access ISAs are a good bet if you might need to withdraw your money, while fixed-rate accounts get you better returns but lock up your cash. Other factors to consider are…

  • Interest rates

    The higher the interest rate, the better your returns, but you may need to look your money away for longer – sometimes up to five years – to get the best rates.

  • customer support icon

    Customer service

    You can check ISA providers’ customer service score on TrustPilot and Feefo. It’s a good idea to ensure the customer helplines’ opening hours suit you, too.

  • Eligibility and access

    Some of the ISAs with the best returns are only available to providers' existing customers. You may also want to check you can manage the account online or via an app.

  • Sweeteners and incentives

    Some providers will give you a cash bonus when you open an account. However, to qualify there may be a minimum deposit requirement.

What are the rules around cash ISAs?

  • As of the 2024-25 tax year, you're free to open as many cash ISAs as you like, as long as your total annual ISA subscription stays within the £20,000 limit.

  • Previous ISA rules have been simplified so you can now transfer full or partial amounts between ISAs at any time. But individual provider terms may still apply.

  • You can divide your annual £20,000 ISA allowance between different types of ISA – cash, equity or Lifetime ISA.

  • If you want to move your cash ISA funds to take advantage of a better rate elsewhere, you’ll need to apply for an ISA transfer. Your ISA provider should take care of this

Cash or investment ISA?

  • Deciding whether to open a cash or investment ISA mainly depends on your attitude to risk.

  • When you choose a cash ISA, you can work out how much of a tax-free return you will make and can save in the knowledge that you won’t lose money.

  • With an investment ISA, there may be the potential for higher returns, especially when the stock market is up

  • However, there is also a risk that your investment pot might dip in value and you could end up with less than you invested

Victoria Russell

Our expert says


Cash ISAs offer a safe home for your savings along with tax-free returns. This makes them a sound choice for anyone who doesn’t want to take the risk of investment. You also have a choice of cash ISAs depending on how long you’re prepared to tie up your money. Often the longer it can be locked away, the greater the return offered.

- Victoria Russell , Money & Personal Finance Expert

How to compare cash ISA accounts with MoneySuperMarket

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    Just click the button below to see a list of all our cash ISA accounts

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    View accounts from leading UK ISA providers and compare rates

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    Click through to provider

    When you find the cash ISA you want, click straight to the provider to apply

Reporting ISA scams

We’re aware that some fraudsters are trying to use the MoneySuperMarket brand to trick consumers into handing over money or financial details, by offering fake ISA products with eye-catching rates.

The best way to stop these scams is to report them.

How do I report an ISA scam?

Check out our tips on how to keep you and your family safe from scams.

Phone Action Fraud on 0300 123 2040 to report fraud

Any UK resident over the age of 18 can hold a full cash ISA – and save up to £20,000 in their name. Junior ISAs are available to anyone under 18 – and they have a smaller annual savings limit of £9,000.

You can open most new cash ISA accounts online, over the phone or in a bank or building society branch. You’ll need to supply proof of identity and address.

This will depend on the terms and conditions of your cash ISA account. For most instant and easy access cash ISAs there won’t usually be any limits or restrictions on withdrawals from your account. If you have a fixed rate cash ISA there will usually be penalties – such as a loss of interest – if you withdraw the funds within the fixed rate term. Always ask your provider about withdrawals if you’re unsure.

Cash ISA funds deposited with UK providers who are authorised and regulated by the Financial Conduct Authority (FCA) are protected by the Financial Services Compensation Scheme (FSCS). This scheme protects your money up to a maximum limit of £85,000 per person (£170,000 for a joint account), per authorised firm.

Be aware some finance brands are part of the same authorised banking group. If you have more than the £85,000 limit in cash savings it is worth spreading your money across different banking groups to get maximum protection.

Opening a cash ISA should take a matter of minutes. But this will depend on the particular procedure followed by the provider with whom you’re opening the account.

If you accidentally pay too much into a cash ISA during the tax year, you won’t be eligible for any tax-relief on the excess amount. But it’s not anything to worry about. In the event that you do overpay, you can get in touch with HMRC by calling its helpline on 0300 200 3300 from 9am to 6pm Monday to Friday.

Alternatively, HMRC will contact you at the end of the tax year and notify you of any tax you’re required to pay.

That depends on the particular cash ISA you chose. But typically the interest is calculated daily and will be paid monthly, or at the end of the term.

No. This is because the tax benefits of cash ISAs are intended for individuals and consequently can only be held in one name.

However, you could still benefit from tax-free savings by transferring your money into your partner’s account to take advantage of their annual allowance.

Yes, you can. You can also transfer your money from a stocks and shares ISA to a cash ISA. ISA rules used to stipulate that you must transfer the whole balance if you’re transferring into a new ISA from an ISA that you paid into during the current tax year. From 2024-2025, these rules no longer apply.

That largely depends on your circumstances. But if you’re retired and think there’s a chance you could need to get access to your money, you may want to consider an easy access cash ISA or a notice cash ISA.

The former will allow you to access your money whenever you like, with no penalty, but generally pay a lower rate.

A notice cash ISA requires you to give notice (usually up to 180 days) when you take money out. As long as you give the required notice you won’t be penalised for withdrawing your cash.

You can compare savings accounts using a number of factors. These include the interest rates they offer as well as how long the rate will last, the amount you might need to deposit in order to open the account, and how you can access the account. Once you’ve decided which account you want, simply click through and you’ll be taken to the provider’s website.

Not sure what type of account to go for? Our Savings Decision Tree can help you decide.

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