10 best cash ISAs in the UK

Looking to grow your savings pot? A cash ISA is one of many types of savings accounts available in the UK, with nearly all banks and providers offering them.

An ISA lets you save and grow your money without paying tax on the interest you earn, making it a good option for many savers.

But which is the best cash ISA in the UK right now? Below, we’ll run through 10 of the best accounts currently available, including a mix of easy access and fixed rate ISAs.

We’ll focus on accounts that give you the best interest rates, so you can make your savings work just a little harder.

And if you need to manage your money in multiple currencies, consider checking out the Wise account from the money services provider Wise. It’s not a bank account but offers similar features. You can also switch on the Wise Interest to make the most out of your Wise account by investing in a fund that holds government-guaranteed assets. Just note, investment returns, even in a low-risk fund, are never guaranteed, and your capital can be at risk.

Learn more about the Wise account 💰

What is a cash ISA?

A cash ISA is just like an ordinary savings account, but with a couple of key differences. The first is that you don’t pay tax on any of the interest you earn.

Normally, you’d have to pay tax on any interest you earn from money held in a savings account if it goes over your personal savings allowance. This is £1,000 for basic rate taxpayers and £500 for higher rate taxpayers.¹

But with an ISA, you don’t pay tax on interest you earn in the account.

The second difference with an ISA is that you can only save a certain amount a year in one - this is known as your ISA allowance. Everyone in the UK aged 18 or over gets an ISA allowance at the start of each tax year. In 2024/25, the ISA allowance is £20,000.¹

Cash ISAs come in a handful of different types, based on how you access your money. There are easy access ISAs and fixed ISAs, which offer tax-free interest for a fixed period of 1,2,3 or 5 years. You won’t be able to make withdrawals with a fixed cash ISA, not without incurring a penalty.

Some are flexible, letting you replace any cash you withdraw, while for others it's a ‘once and done’ deposit policy. You’ll also find that many cash ISAs let you transfer in ISAs from other providers.

Cash ISAs - what you need to know:¹

• The cash ISA allowance for 2024/25 is £20,000
• The allowance resets every tax year, but doesn’t roll over to the next year - so if you don’t use it, you lose it.
• You can open multiple cash ISAs with different providers in one year - as long as your total savings doesn’t exceed £20,000.
• Cash ISAs offer Financial Services Compensation Scheme (FSCS) protection up to £85,000 per person.
• If you’re transferring money between ISAs, use the provider’s transfer process rather than withdrawing and re-depositing the money. Otherwise, you’ll lose your tax-free benefits.

📚 Read more: Current accounts with best interest rates in the UK

Best cash ISA in the UK - top 10 options compared

To help you start comparing options, below is an at-a-glance look at 10 of the best cash ISAs in the UK right now.

We’ve included both easy access and fixed accounts in our list, along with focusing on those with the highest cash ISA rates in the UK.

ISA account	Type	Interest rate	How to apply	Transfers in?
Plum Cash ISA	Easy access	5.17%	App	Yes
Moneybox Cash ISA	Easy access	5.16%	App	Yes
Zopa Smart ISA	Easy access	5.08%	App	Yes
Cynergy Bank Online ISA	Easy access	4.9%	Online	Yes
Marcus Cash ISA	Easy access	4.75%	Online	No
Shawbrook 1 Year Fixed Rate Cash ISA	1 year fixed	4.72%	Online	Yes
OakNorth Bank Fixed Rate Cash ISA	1 year fixed	4.71%	Online	Yes
Virgin Money 1 Year Fixed Rate Cash E‑ISA	1 year fixed	4.65%/5.05%	Online	Yes
TSB Fixed Rate Cash ISA	18 months fixed	4.5%	Online/branch	Yes
Halifax ISA Saver Fixed	5 year fixed	4%	App/online/branch	Yes

Plum Cash ISA²

The Cash ISA from savings and investments specialist Plum offers an AER interest rate of 5.17%. This top rate is only for the first 12 months, after which it falls to 4.29% AER.

It’s an easy access ISA and lets you withdraw money the next working day, but it’s not flexible - this means you can’t replace anything you withdraw. Crucially, you can only make three withdrawals a year, otherwise the rate drops to 3% AER.

However, you can transfer in ISAs from elsewhere. Be aware though that the rate for transferring in existing ISAs is 4.29% AER.

To open and manage the Plum Cash ISA, you’ll need the Plum mobile app. You can get started with just a £1 minimum deposit.

📚 Read more: Best savings accounts with high interest in the UK

Moneybox Cash ISA³

The MoneyBox Cash ISA is another app-only account, so you’ll need to download the MoneyBox app to access it. It offers 5.16% AER (variable) interest for 12 months, dropping to 4.25% AER after that. And it has a minimum required balance of £500.

You can make up to 3 withdrawals a year, after which the rate plummets to 0.75% AER. This rate drop also happens if your balance falls below £500 at any point. It’s not a flexible ISA, so you can’t replace money you withdraw and keep your tax benefits.

The account lets you transfer in existing ISAs from other providers without any drop in rate.

Zopa Smart ISA⁴

The Zopa Smart ISA can be opened with just £1 and offers interest of 5.08% AER (available on ISAs opened before 6th May 2024). This is a bonus rate lasting until 6th May 2025, after which the rate drops to 4.58% AER.

It’s an easy access ISA, with no limits or penalties for withdrawals. It’s also flexible, meaning you can replace any withdrawn money in the same tax year without affecting your ISA allowance.

To open and manage this ISA, you’ll need to download the Zopa mobile app. You’ll also need to open a Zopa Smart Saver account first. You’ll then have the option to split your ISA allowance across personalised easy access and fixed ISA pots (these pay different interest rates).

You can also transfer in existing ISAs.

Cynergy Bank Online ISA⁵

You can open a Cynergy Bank Online ISA with as little as £1, and transfer in existing ISAs only at the time of applying. The interest rate is 4.90% AER, and doesn’t include any bonuses, so you should get this for the lifetime of the account (unless the provider decides to change the rate).

It’s an easy access ISA, so you can make unlimited 24/7 withdrawals. However, it’s not flexible so you can’t replace money you take out without your allowance being affected.

You’ll need to be a Cynergy Bank personal banking customer in order to open this ISA, and you can do it online.

Marcus Cash ISA⁶

The Cash ISA from Marcus, the brand owned by US banking giant Goldman Sachs, can be opened online with an initial deposit of just £1. It offers a rate of 4.75% AER for the first year, after which it drops to 4.24% AER.

This isn’t a flexible ISA, so you can’t replace money withdrawn within your tax-free allowance. And it doesn’t permit transfers in from other ISAs. However, you can make unlimited withdrawals if you need to.

📚 Read more: Best online bank accounts in the UK

Shawbrook 1 Year Fixed Rate Cash ISA⁷

The 1 Year Fixed Rate Cash ISA from savings and lending bank Shawbrook pays interest of 4.72% AER. There’s a minimum balance of £1,000 and a maximum balance of £250,000. As it’s a fixed ISA, you won’t be able to withdraw your money for the 1-year term without incurring charges.

To open this account, you’ll need to apply online. You can choose monthly or annual interest, and transfers of other ISAs are permitted upon application.

OakNorth Bank Fixed Rate Cash ISA⁸

The OakNorth Bank Fixed Rate Cash ISA can be opened with just £1, and pays 4.71% AER if you lock your money away for a 1-year period. Other fixed terms up to 36 months are available too, but this currently offers the highest interest rate.

You can sign up for this ISA online or in the OakNorth mobile app. You can transfer in ISAs from other providers, but this can only be done via online applications.

As with other fixed rate ISAs, withdrawals aren’t permitted within the fixed period without incurring penalties.

Virgin Money 1 Year Fixed Rate Cash E‑ISA⁹

If you prefer to save with a better known banking brand, this 1 Year Fixed Rate Cash E‑ISA from Virgin Money could be worth looking into.

It pays interest of 4.65% AER in exchange for locking your money away for 1 year. Withdrawals aren’t permitted without incurring a charge, and you have to fund the account within the first 30 days. However, you can open the ISA online with just £1. And you can transfer in an ISA from another provider if you wish.

Already bank with Virgin Money? There’s another cash ISA available which has a higher interest rate, but it’s only for existing customers. It’s the 1 Year Fixed Rate Cash ISA Exclusive, and it pays a fixed rate of 5.05% AER.¹⁰

TSB Fixed Rate Cash ISA¹¹

The next big-name bank on our list, TSB, offers a Fixed Rate Cash ISA paying 4.50% AER for 18 months. There are also options to lock your cash away for 2 or 3 years, but these interest rates are slightly lower.

You can transfer in other ISAs, but you can’t make withdrawals for the duration of the fixed term without paying a penalty.

The ISA can be opened online or in branch with a minimum opening balance of just £1.

Halifax ISA Saver Fixed (5 Years)¹²

Lastly, we have the Halifax ISA Saver Fixed. This one has a fixed term of 5 years, so you’ll need to be willing to leave your money untouched for a long time.

It doesn’t pay the highest interest on our list, offering 4% AER. But it could be a good option for those looking for a stable rate in case interest rates drop across the market in the next few years.

You can’t make withdrawals without penalty during the five years. You can open the account online, in branch, by phone or in the Halifax app, and the minimum deposit is £500. You can transfer in ISAs from other providers.

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And there you go - a full roundup of the best cash ISAs in the UK right now, including both easy access and fixed term options. You should have all the info you need to compare what’s out there and choose the one that works best for you.

Also, check out the Wise account in case you manage your money in multiple currencies. You can send, spend and convert your money in 40+ currencies for small, transparent fees* and mid-market exchange rate.

You can also give your money a boost with the Wise Interest feature. It’s not an ISA but offers something different as an investment feature, earning returns on different currency balances. Investments in funds are never guaranteed and your capital can be at risk.

Sign up with Wise today 💰

Interest is offered through Wise Assets. Wise Assets is a trading name of TINV Ltd, a subsidiary of Wise. TINV Ltd is authorised as investment firm and regulated by the Financial Conduct Authority (FCA). Our FCA number is 839689. We do not give investment advice, and you may be subject to pay tax. If you’re not sure, seek qualified advice. You can find more information about the funds on our website.

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Sources used:

1. MoneySavingExpert - Top cash ISAs 2024/25
2. Plum - Cash ISA
3. MoneyBox - Moneybox Cash ISA
4. Zopa - Smart ISA
5. Cynergy Bank - Online ISA
6. Marcus - Cash ISA
7. Shawbrook - 1 Year Fixed Rate Cash ISA
8. OakNorth - Fixed Rate Cash ISA
9. Virgin Money - 1 Year Fixed Rate Cash E‑ISA
10. Virgin Money - 1 Year Fixed Rate Cash ISA Exclusive
11. TSB - Fixed Rate Cash ISA
12. Halifax - ISA Saver Fixed

Sources last checked on date: 29-Apr-2024